St. Pete’s first car condo community nearing finish line
On a pad of land off Interstate 275 and Gandy Boulevard, a construction crew has raised the concrete walls for what will be a new-to-market luxury car condo community.
The complex, dubbed Motocave, will have 43 high-end spaces to store motor vehicles. The units can become “man caves,” filled with pool tables, TVs and lounge chairs in a steel-fabricated mezzanine.
Prominent real estate developers Bowen Arnold of Tampa-based DDA Development, Scott Clendening of St. Petersburg Commercial Partners Realty, and Matt Mosk of Largo-based Mosk Development Co., one of the largest industrial and commercial developers in Pinellas County, are working together to develop Motocave.
“The surrounding car condo communities are either completely or nearly sold out,” Bowen said. “One of the most unique aspects of this site is that it’s 15 minutes from downtown St. Pete and South Tampa.”
A rendering of the Motocave development.
He described the 3.75-acre site, which sits adjacent to the St. Pete Housing Authority HQ, as a secluded yet easily accessible area.
The complex will be finished by the first quarter of 2024. To date, over 50% of the units have sold. The majority of the buyers are local car collectors and/or have a second home in the area.
“All these luxury condos under development in the city have limited spaces,” Bowen said. “Those who are affluent and have multiple vehicles need a place to store them.”
Typically, landlords of residential communities only offer one to two parking spaces.
The Motocave units, which are roughly 1,000 square feet and priced $315 per square foot, can accommodate several vehicles.
“We have seen the demand for customized units and RV owners,” Bowen said. Several units will be dedicated to house the larger vehicles.
Construction started in 2022 with Atlas Building Company serving as the general contractor. Atlas is the same GC group that worked on Wheel Base, another luxury car condo complex in Sarasota.
Motocave will have a wraparound concrete wall and will be gated.
Vertical construction at Motocave.
Unit owners can lease their space to other users as long they abide by the guidelines from the condo association.
There will also be a two-story clubhouse at the property, which will have a detail bay available for users or independent detailers to wash vehicles.
The entire project was previously estimated to cost roughly $8 million, but Bowen said the cost is nearing $12 million due to market conditions.
Other nearby condo car concepts include the Motor Enclave in Tampa and the Luxe Dream Garage in Lakewood Ranch.
Although it’s not considered a car condo complex, Car Locker, a combined luxury car storage facility, detailing and consignment shop, opened at 1900 13th Ave. N. in St. Petersburg late last year.
