Categories: Know

Luxury condos, affordable apartments move forward after City Council votes

The St. Petersburg City Council has given the go-ahead to two very different housing developments for the city.

Meeting as the Community Redevelopment Agency, city council members found that Saltaire, a 35-story luxury condominium development, was consistent with plans for downtown development. The CRA also authorized a city loan for The Shores Apartments Ltd., a 51-unit affordable housing development in the South St. Petersburg Community Redevelopment Area.

Neither measure drew any comment from the public and both were approved unanimously.

Downtown high-rise

Saltaire, at 333 1st St. S., is being developed by The Kolter Group, the developer behind One St. Petersburg. With a projected cost of $136 million, the project will have 192 condo units and 9,681-square-feet of commercial space. It will be built on 1.77 acres that now is the parking lot for the Hilton Hotel. Saltaire and the Hilton will share a parking garage.

“Currently the existing surface parking lot is an under-utilized piece of land that does not devote any activities to the urban fabric of downtown,” said Corey Malyszka, urban design and development coordinator.

The ground floor of the building will include a residential lobby and retail space, as well as back-of-house areas and the entrance to the parking garage. Parking will be on the second through sixth floors, and the seventh floor will have indoor and outdoor amenity space. There will be some residential units on the lower floors, but most of the condos will be above the seventh floor.The parking garage will have 596 spaces, shared by residents of Saltaire and guests at the Hilton and with a covered walkway to the Hilton. During construction, Hilton guests will park offsite, with valet service provided and 110 spaces currently reserved at the Mahaffey Theater garage, Malyszka said.

Home ownership opportunity

The Shores Apartments is an $11.6 million project being developed by The Richman Group of Florida at the southwest corner of 26th Avenue South and 31st Street South. It will include 51 affordable apartments, 45 of them for households with incomes at or below 60 percent of the average median income for the area, and six of the apartments for households at or below 35 percent of the average median income.

A family of four with a household income of $40,140 would pay no more than $1,044 a month for a three-bedroom apartment under current guidelines.

The one, two and three-bedroom apartments at The Shores will range in size from 650 square feet to 1,150 square feet.

There also will be a clubhouse, cybercafé/coffee bar, swimming pool and other amenities. The building will meet the bronze certification for the National Green Building Standards. Resident programs will include an after-school program for children, adult literacy tutors and a home ownership opportunity program that provides a financial incentive of 5 percent of the rent paid as a gift or grant toward a home purchase.

City council members agreed to loan the developer $567,000 that can be used as a local contribution toward the project and will improve its chances of being awarded state tax credits. The developer will repay $8,197 a year for 20 years, with the remaining balance of $403,560 to be forgiven in year 21.  The city’s contribution come from tax increment financing from the South St. Petersburg Redevelopment Trust Fund.

Construction is expected to begin in the third quarter of 2020, with the project completed about a year later, a spokesman for The Richman Group told the council.

Margie Manning

Margie started her journalism career as a radio news reporter in St. Louis, before putting down her microphone and picking up a pen to work at the St. Louis Business Journal. Unable to resist the call of warm weather and beaches, Margie took an entrepreneurial detour to run an ice cream shop in Treasure Island with her husband. Before joining the Catalyst, Margie spent 14 years at the Tampa Bay Business Journal where she wrote about business successes, failures and the exciting world of innovation and start-ups. Her writing coaches are Bonnie the Dog and Coffee the Cat.

View Comments

  • We Are Adding To The Sewage Problem...How much are these developers going to pay towards infrastructure? I see the Tax Credits To Lure The Wealthy Here At The Expense of the Rest Of Us. Pity!

  • So let me get this right! "We" the public did not comment on neither project and that is because again"we" the public knew nothing about these projects and even if we did and added our input it would not have made a difference if the public disapproved the projects. Also I see that the luxury apartments will be built downtown; while the affordable apartments will be built on the south side. Shame on you!!

    • Luxury apartments are being built around the corner on 34th Street and 38th Ave So. We need affordable housing on the Southside , however $1,000 a month rent??? That is a house note. anyone that can afford that should seek to purchase a home. First time home buyers class.

    • @Evelyn Rhodes, I totally agree. Theres alot of land they're using for self gain, /o the surrounding residential areas opinions!! Its a clear objective to still neglect the urban/rural areas. Did you know they are placing high rises in place of old Kmart? Bought the land of the olf Flamingo/Howard Johnson on 34st south for high rise condos as well? My question is: Where is the centers for the youth? Skating ring? Movies? Bowling alley? Free mentors? I can even detest to walmart even has different prices ($1-$3 less) when compared southside to Bay Pines. Its ridiculous and an ongoing cycle to keep the south side behind. We're forced to settle.

      • My question is who will live in these 'Luxury' condos/apartments???People that work downtown cannot afford to live there.

Recent Posts

Protestors take to St. Pete streets to demand action on climate change

About 300 activists gathered at St. Petersburg City Hall Friday morning, calling for action to combat climate change. The St.…

1 day ago

Rosenstiel: More than election outcomes, the Electoral College has pervasive affects on American life

The ramifications of the current state-based “winner-take-all” electoral college system go far beyond any one presidential election, according to Patrick…

1 day ago

St. Pete looks for new ideas for Tangerine Plaza

The city of St. Petersburg is taking another crack at generating developer interest in Tangerine Plaza, a city-owned retail center…

1 day ago

Webb’s City legacy pushes deadline on new office building

The St. Petersburg City Council has given United Insurance Holdings Corp. an additional six months to complete due diligence on…

1 day ago

The artist up close: Charlie Parker

Sure, his recent hip replacement procedure slowed him down, but St. Pete master potter Charlie Parker is on the mend,…

1 day ago

Top Chef star, Tampa restaurateurs bring high-end Italian concept to 200 Central

Nocturnal Hospitality Group plans to open what it says will be Pinellas County’s first celebrity-chef driven restaurant at 200 Central…

2 days ago