The residential real estate boom in downtown St. Petersburg is going strong as two new buildings get ready to rise along the ever growing skyline.
This month the NRP Group, which built Beacon 430
on Third Avenue, started construction on a nine-story residential building. Situated across the street from the Tampa Bay Times building, the new structure will have an internal parking garage for residents and 200 spots for Tampa Bay Times employees.
“This will be a luxury residential building with 366 units,” says Kurt Kehoe, VP of the NRP Group, LLC
Kehoe says the building, which has yet to be named, will have studios, one-, two- and three-bedroom units. The units range from 570 square feet to over 1,550 square feet.
“There is very little property that can be developed in the business district of St. Petersburg, but we wanted to move on this as soon as possible,” he says. There is a lot of interest in downtown with the walkability so it made a lot of sense to move on this property when we did.”
The building will have a rooftop pool with views facing East toward Tampa Bay, as well as a rooftop fitness area and club room adjacent to the pool.
“We did a secondary pool in the courtyard that will be ground level that will have large sitting areas, a lounge and another club area.”
Construction is expected to be completed in early 2018.
A few blocks away from the NRP project, another building is under construction, which is expected to be completed this year.
AER St. Petersburg
is a luxury apartment tower with 18 stories and 358-units. The $85-million project features 600-square-foot studios to 1,500-square-foot three-bedroom units.
Amenities at AER include interactive audio visual and social media venues, fitness center, business center, pool, clubroom with exhibition kitchen, observation deck and on-site parking garage.