Kolter, the developer known for their success at Water Club Snell Isle and ONE St. Petersburg, has just announced that they have plans for another luxury condo project in downtown St. Petersburg, promising breathtaking water views.
Preliminary plans call for a 35-story condominium building containing approximately 200 residences as well as retail on the ground floor. The project is to be located at 300 1st Street South, which is currently being used as a surface parking lot for the Hilton St. Petersburg Bayfront hotel.
Kolter is currently under contract to purchase the land, and while still in it’s due diligence period, the company is hoping to close on the land later this year.
Per our friends at StPeteRising, Kolter hopes to submit site plans to the city and launch a pre-construction sale campaign in the Spring. Construction would likely begin shortly thereafter. With an estimated 30-month construction cycle, the tower is tentatively scheduled to open in 2022.
While pricing for the units has not yet been determined, we expect that the level of quality and finishes will be similar to that of ONE St. Petersburg. Like ONE, this project will benefit from unobstructed water views, which are expected to attract luxury condo pricing.
If you’d like to know the minute new construction pricing is released for this project, please fill out the form below and we’ll be in touch.