Leasing Begins for Class A Office Space at The Central in St. Pete
St. Petersburg, FL (May 13, 2024) – Ellison Development announced two significant milestones today in the ongoing evolution of The Central, a transformative 2.1-acre project on the site of the former police department in Saint Petersburg’s vibrant Edge District.
The Central, which broke ground in February, will feature a distinguished 12-story office tower boasting 130,000 square feet of Class A office space. Today, Ellison Development proudly unveiled the official name of the tower as “Halcyon” —an appellation derived from the Latin term signifying prosperity and unparalleled success. Construction of Halcyon marks a historic moment for St. Petersburg as it will become the city’s first new Class A office development since the 1980s. (NEW RENDERINGS ATTACHED)
“Halcyon will not only offer high-end finishes and the latest technology, but include highly sought after amenities driven by the lessons we’ve learned in the hospitality space,” said Ellison Development CEO Casey Ellison. “Halcyon is poised to redefine the office experience and offer an ideal environment for employers aiming to reinvigorate their workforce in a collaborative setting.”
Each office space within Halcyon is meticulously crafted to feature a private balcony, offering tenants a tranquil retreat amid the St. Petersburg cityscape. Complementing this luxury, they will also enjoy access to a suite of shared amenities seamlessly integrated with The Central’s Autograph Collection Hotel. Future tenants will be able to immerse themselves in a world of convenience and refinement within the workspace with access to state-of-the-art fitness facilities, catered conference rooms, restaurants, and bars.
In addition, leasing efforts for Halcyon have commenced with Ellison Development appointing Cushman & Wakefield, a global commercial real estate services firm, to exclusively manage all leasing initiatives.
A recent Q1 2024 report from Cushman & Wakefield found positive demand trends for office space in several markets. St. Petersburg currently has a low vacancy rate of 7.4%, significantly lower than the national vacancy rate of 20.2%. The numbers validate the need for investment in premium office spaces in St. Petersburg to meet future demands and growth.
“Halcyon’s location and visionary design will attract forward-thinking businesses to downtown Saint Petersburg, fulfilling the need for Class A office space,” Ellison said.
During the construction process, Ellison Development will commission the United States Green Building Council to seek Leadership in Energy and Environmental Design (LEED) certification for Halcyon. LEED-certified buildings offer a healthier, more satisfying indoor space while addressing community and public health. Effectively, LEED certified buildings use less energy and water, utilize renewable energy sources, and create less waste.
Altogether, The Central will encompass Halcyon, plus a 15-story Autograph Collection Hotel— marking downtown’s first 4-star hotel since the iconic Vinoy, 15,900 square feet of retail space, workforce housing, more than 500 public parking spaces, a standalone glassed jewel box retail space and a monument honoring the Courageous 12, crafted by nationally acclaimed artist Ya La’Ford
Construction of Halcyon is expected to be complete by fall 2026.
