West Palm Beach developer, The Kolter Group, has revealed plans for a 13-story hotel and 41-story condo tower on the Tropicana block on Central Avenue, a $120 million project.
Tentatively named Tropicana Block, the 800,000-square-foot proposal includes a 456-foot-high tower with 253 condo units (rumored to be named “ONE“) sitting atop 15,000 square feet of street-level stores and restaurants. It would be adjoined by parking garages to a 152,000-square-foot hotel with 174 rooms.
The 2.2-acre lot is located one block west of Beach Drive, between Central Avenue and 1st Street North.
As many other new housing developments pop up in downtown St. Pete, including the $65 million Hermitage apartment building, and Bliss, an 18-story luxury condominium development, Brian Van Slyke, a development executive with Kolter, said sales records show there is still a strong demand for condos and that those that become available are snapped up quickly.
Some of the amenities planned for residents in the condo tower will include a swimming pool on the 7th floor, a gym, yoga studio and games room. The company has yet to announce pricing, but already has moved a sales trailer onto the property and hopes to open for interested residents soon. Rumors are circulating that the pricing may be around $500/per square foot for the condo units. Kolter also constructed Water Club, two 9 story waterfront towers on Snell Isle.