Delray Beach-based developer Kolter Group is moving forward with the plans for project at 200 Central Avenue, a 41-story mixed-use building planned to rise on an existing grade-level parking lot in Downtown St. Petersburg. Despite some hesitation with the overall design, the city’s Development Review Commission ultimately gave the green light for project and site plan modifications requesting floor area ratio bonuses. Designed by SB Architects, the firm behind the design of Kolter’s One St. Petersburg and Saltaire towers, the structure will rise approximately 480-feet including the decorative crown, and yield 248 residential units, 6,100 square feet of ground floor retail, and 482 parking spaces.
During the meeting, Trenam Law shareholder Don Mastry stated “This commission has approved similar situations such as 41-story One St. Petersburg building across the Ponce De Leon Hotel and Catsimatidis’ Red Apple Group’s project,” quickly defending the design for the tower, assuring it blends in with the neighborhood’s existing towers and projects underway. “We’ve put columns because there are columns on the outbound of the facade on that block,” said Brian Van Slyke, Regional President of The Kolter Group.
The tower is designed in a very similar fashion to One St. Petersburg and Saltaire, clad in impact resistant glazed glass and smooth texture cement plaster. All units will have balconies enclosed with aluminum railings and glass panels. The parking garage will be covered by a textured mesh screen. At 480-feet, the development will stand as the second tallest tower after the 515-foot-tall 400 Central development by Red Apple Group, which recently broke ground.
The development will yield 248 two and three-bedroom residences, and penthouses in the upper floors, spanning as large as 3000 square feet. Residents will have access to amenities on the 9th floor including a wellness and fitness center, a massive pool deck and spa, social gathering areas, two guest suites, a game room and movie room along with a golf simulator. Thanks to the transition to work-from-home, the project will also include sevetal co-working spaces.
The project is estimated to cost approximately $140 million and would take between 24 to 36 months to complete after breaking ground. Pre-construction sales will likely launch in Q1 of 2022, followed by ground breaking later in the year. Smith and Associates Real Estate will exclusively handle sales of the residential units at the tower, while Tampa-based United Landmark Associates will handle marketing.