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St. Pete developer plans condominiums on empty lot downtown
A 40-unit residential condominium building is planned for what is now a vacant lot on 3rd Avenue South in downtown St. Petersburg.
NJR Investment and Development Company LLC and its affiliate NJR Construction Group LLC just took the wraps off Domus Urbana, a 40-unit residential condominium building that will be constructed at 644 3rd Ave. S. The project will break ground this fall and is expected to be complete in early 2022.
The two and three-bedroom condominiums will offer “high-end elegance at an accessible price point,” a news release said. Prices will start in the mid $300,000’s. The condos will feature premium appliances, designer finishes, stylish flooring and expansive balconies, according to the Domus Urbana website. It also will have a health and fitness center, dog park and washing station, outdoor patio and indoor community room.
It’s close to where residents can work, dine and play, the news release said.
“Domus Urbana represents elegance and style at an attractive price point. For our prospective homebuyers searching for a new home in a walkable neighborhood, this property will be the perfect fit,” said Neil Rauenhorst, developer and president of NJR Investment and Development Company LLC.
NJR Investment, a real estate private equity firm, recently relocated its main office to St. Petersburg from Tampa, said Natalie Gomez, director of administration and controller. That office, at 460 3rd St. N., houses the sales office for Domus Urbana. It’s also the address for Great Northern Equity LLC, which bought the 3rd Street South property for $2.3 million in February 2019, Pinellas County property records indicate. An apartment building that was on the property was demolished in October 2019.
NJR previously built Regent Lane Townhomes at 131-145 4th Ave. N. in downtown St. Petersburg.
Those interested in learning more about Domus Urbana can schedule a virtual tour or reserve an appointment at the Domus Urbana sales gallery, by calling (727) 515-5556 or visiting www.domusurbanastpete.com.
