Red Apple Real Estate expects to start construction on 400 Central, a 1.3 million square foot multi-use development in downtown St. Petersburg, in 2021.
The company has leased space for a condominium sales gallery across the street, at 465 Central Ave., and design work now is underway, according to a news release.
Foundation plans have been filed with the city of St. Petersburg and plans are underway for the permitting of preliminary site work.
The project includes a 46-story, luxury residential condominium tower, called The Residences at 400 Central, with 300 luxury homes. It also will have a 223-key full-service boutique hotel with more than 15,000 square feet of meeting and event space, 25,000 square feet of retail and restaurant space along Central Avenue, and more than 20,000 square feet of Class A office space.
It will be the tallest building in St. Petersburg.
The Federal Aviation Authority has given the project the go-ahead, issuing a “no hazard letter” regarding the height of the project’s 46-story condo tower.
The St. Petersburg City Council approved the $300 million development in January, prior to the Covid-19 pandemic and the potential chilling impact it has brought to hotel and office construction, as travelers and workers stay home.
“As a large, well-capitalized family owned firm with multiple businesses, Red Apple has the ability to look beyond temporary events and make long-term business commitments,” John Catsimatidis Sr., founder of Red Apple Companies, said in the news release.
“I am optimistic about the future of St. Petersburg, a city where I have had family roots for over thirty years, and so we are continuing on all fronts with our plans to develop this iconic addition to the St. Petersburg community.”
The tower is being developed by New York-based Red Apple Real Estate. Design of the project is being led by Arquitectonica, a Florida-based firm.