The developer behind the Moxy Hotel by Marriott under construction in St. Petersburg’s Edge District is making plans for a new connected and walkable mixed-use project that it says will “complement the new Gas Plant District.”
Miami-based real estate firm investment firm PTM Partners has unveiled a conceptual development for the 1100 Block of Central Avenue, stretching to 1st Avenue South and 11th Street to 13th Street, that will be part of the group’s latest concept – the Edge Collective.
The initial phase includes the soon-to-be-completed 163-key Moxy Hotel, a redevelopment of the 110-year-old adjacent building, and the creation of European-style-like side streets that will be lined with smaller retail and commercial operations.
“The idea is to connect the alleyway streets and make this an activated thoroughfare,” said Michael Tillman, co-founder and CEO of PTM Partners.
The alleyway between the Moxy Hotel and Bodega restaurant is one of several sections Tillman wants to redevelop as a walkable environment and gateway to the Tropicana Field site.
“We’ve branded the whole project as the Edge Collective because everything will tie together among the food and beverage, retail and hotel users,” Tillman said.
The second phase calls for a 20-story, 350-unit luxury apartment tower, which would be built at the site of the shuttered Dr. BBQ restaurant, located at 1101 Central Ave.
The development would span across two buildings and offer studio-to-three-bedroom-units. There would also be 45,000 square feet of commercial and retail space and 260 parking spaces.
“We are being mindful in the design and density. When we planned the hotel, we built it further from the street so it wouldn’t tower over Central Avenue,” Tillman said. “We have the same intention with the tower.”
The first phase of office space in the tower, approximately 16,000 square feet, will be come online by the second quarter of 2024.
Per the plans, the team has started renovating the 30,000-square-foot building neighboring the Moxy Hotel at 1246 Central Ave.
It will be converted to 8,000 square feet of restaurant space and 16,000 square feet of offices on a second floor.
“This is such a beautiful building we want to preserve. We noticed there were lots of windows, but they were completely center-blocked,” Tillman said.
PTM Partners is building a new elevator for the office level and will also install steel stairs and a catwalk leading to private office suites.
“With the Gas Plant redevelopment, office space is going to be a natural amenity,” Tillman said.
There isn’t a final estimated cost for the entire project; however, Tillman said it will be north of $100 million.
The group submitted the site plan to the city. Tillman said he expects the plans to go before the St. Petersburg Development Review Commission and the City Council for final approval.
PTM Partners is working with Petersburg-based Storyn Studio for Architecture, which is the same group designing the Moxy Hotel.
Tillman said the firm is also gathering feedback and input from the Edge Business District Association members.