Tampa-based Sight Real Estate is in the planning stages of developing a new luxury townhome project in St. Pete’s growing Warehouse Arts District.
The project, dubbed Canvas City Homes St. Petersburg, is a 10-unit residential development at 2700 5th Ave. South. The site is currently vacant.
Canvas City Homes St. Petersburg will have a modern industrial style architecture, which is influenced by the dozens of artist studios and galleries in the district, many of which were once industrial spaces.
“We are taking inspiration from the local artists in the district,” said Chase Moore, director of sales and marketing at Sight, describing how the “Canvas” name derived from creating something new from a blank slate. He said the developer wants to integrate local art into the community, and will include a sculpture in the courtyard.
“This is the only new construction for multifamily near this location in the Warehouse Arts District, and it’s close to the Pinellas Trail,” Moore added.
The community will have two floor plans for its three-bedroom units, which start at $525,000, with end units priced at $550,000. The units will either be 2,040 or 2,070 square feet and will feature quartz countertops in the kitchen and baths, dual vanity sinks in the primary baths and Whirlpool stainless steel appliances. All of the units have a balcony and a two-car garage.
The unit sales will launch in mid-April. The group is expecting to break ground in the next several months and construction is projected to take place over 18 to 24 months, which takes into account the current supply chain issues, Moore said. The developer is in the process of final negotiations with a construction firm.
The group has worked on multiple local projects in Tampa Bay such as Six Point Row at 2611 1st Ave. North in St. Petersburg, a 19-unit townhomes community that’s under construction.
The group also completed a renovation of the Puckett’s warehouse at 2430 5th Ave. South in St. Pete, which will become a multi-tenant building.
Additionally, Sight is working on a sister 80-unit project in Tampa’s Ybor City neighborhood, which will be named Canvas City Homes Tampa, Moore said.
In Tampa, Sight is also developing modern townhomes outside Bayshore Boulevard with unit prices starting in the low $600,000s.