Size matters: 5-story Castille Urbana condo is a hit

Five units remain, of the 40 originally available, at downtown’s Castille Urbana residential condominium building. 

Completed and opened in February, the five-story Castille Urbana (600 3rd Avenue S., St. Petersburg), includes two and three-bedroom floor plans ranging from 1,158 to 1,650 square feet.  

Castille Urbana’s smaller design was chosen to offer a less expensive living experience near the downtown area. “A lot of people want to have a feel of being in a smaller community without hundreds of people coming and going everyday,” said NJR Investment & Development Company LLC CEO and president Neil Rauenhorst. 

When selecting the space for the project, Rauenhorst and his team wanted to ensure that the building was within walking distance to restaurants, shopping destinations and supermarkets. 

The real estate for Castille Urbana was acquired approximately four years ago, Rauenhorst said. NJR unveiled its plans for the building in December 2021. 

University of South Florida School of Public Affairs associate professor Elizabeth Strom’s research has focused on urban development, among other topics. She believes Castille Urbana and similar sized projects are a benefit to St. Petersburg. 

“I think it’s good to have a diversity of building types and options for people who are buying or renting,” Strom said. “I think that just leads to a healthier, more prosperous and democratic kind of community.”

There are financial benefits for the developers as well. 

“If you build above five or six stories, everything becomes more expensive,” Strom continued. “From a developer’s point of view, the economics may work better to have a smaller building that you can build at a lower cost.” 

The project joins similar initiatives from NJR including another 40-unit condominium, Domus Urbana, 644 3rd Avenue S., and the sold-out 20-unit townhome development, Regent Lane (145 4th Avenue N.). 

Castille Urbana website