Investors Offer Hip, Urban Condos For Rent In Downtown St. Petersburg

A group of Canadian investors have made it possible for The Sage Condominiums in St. Petersburg to begin renting units that offer urban amenities such as a fifth-floor terrace pool, club house with bar, media lounge and art program for under $2,000 a month.

The Sage, located on the corner of 4th Avenue and 4th Street S., sits within walking distance of downtown St. Petersburg and the University of South Florida's St. Pete campus. Despite its amenities, convenient location and panoramic views of Tampa Bay, units were not selling as well as expected. Enter Canada.

"Seventy-five condominium units were purchased by Bayshore Investors, LLC, a partnership formed by Southwest Properties Limited and Armco Capital Incorporated of Halifax, Nova Scotia, Canada," explains Gordon Laing, Southwest's president and CEO.

Laing says his interest in The Sage stems from the region's positive growth. "Tampa Bay is one of the largest metropolitan areas in Florida, with strong employment opportunities and vibrant recreational and shopping amenities," he says. "In particular with The Sage, it's ideally located near the University of South Florida and Bayfront Medical Center, as well as the waterfront, shops and restaurants."

Pashé Douglas-Sampson recently moved to St. Petersburg to start her occupational therapy career. She chose The Sage after a search around town. She was the first rental resident.

"I used to live in Miami and am used to living in towers and condos. I wanted to find something similar. When I first came here I didn't notice this building. But once I went inside I knew it was where I wanted to live. I really, really love the structure, the floorplans. And the pool has a great view of the city."

Writer: Missy Kavanaugh
Source: Gordon Laing, Southwest Properties Limited; Pashé Douglas-Sampson, The Sage Condominiums
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