St. Pete apartment project gets construction loan
April 9, 2020 - Newmark Knight Frank, a commercial real estate advisory firm, arranged a $16.1 million construction loan for Gallery 3100, a planned 122-unit, four-story multifamily community in St. Petersburg. Gallery 3100 is being built at 3100 Central, on the site of a former SunTrust Bank branch, by a joint venture between Mosaic Development LLC and The Brookview Cos., and will include one- and two-bedroom floor plans ranging in size from 663 to 1,098 square feet, a news release said. The community will also offer 17 workforce housing units. Construction is expected to be completed in spring 2021. Matthew Williams and James Maynard of NKF arranged the loan through Synovus Bank, the release said.