Catalyst, 10-06-21

Kolter Group plans to build 41-story condo tower in downtown St. Pete

Artist rendering of ONE St Petersburg

Published By Veronica Brezina, St Pete Catalyst

The Kolter Group, the developer behind the ONE St. Petersburg condo building, plans to deliver another luxury condo product in downtown St. Pete.

The group filed plans in September to build a 41-story condominium tower on a surface parking lot adjacent to the 200 Central office building. The project is currently unnamed.

A rendering of the Kolter’s new 41-story condo tower at 200 Central Ave. The development will have a contemporary style. City of St. Pete documents/ SB Architects.

A rendering of the Kolter’s new 41-story condo towerA rendering of the Kolter’s new 41-story condo tower at 200 Central Ave. The facades feature floor-to-ceiling sliding glass doors, green-laminated glass windows and large balconies for the residents. City of St. Pete documents/ SB Architects.
“We began to work on this earlier this year,” Brian Van Slyke, Regional President of The Kolter Group, told the St. Pete Catalyst in an exclusive interview. “There will not be a physical connection between the 200 Central building and this project [such as a pedestrian bridge], but they will work together.”The 200 Central building houses the Industrious co-working hub, fintech firm Dynasty Financial Partners and is where Cathie Wood’s ARK Investment Management firm will be located.

The project, estimated to cost roughly $140 million (in today’s market), calls for 248 units on the site that’s currently a parking lot owned by 200 Central. Kolter is under contract to purchase the site.

“Kolter has been a leader in condo development in St. Pete over the last decade. We have unique insight into what condo buyers want,” Val Slyke said, explaining the group wanted to offer a variety of different floorplans and that the site is ideal as it’s situated on Central Avenue and is two blocks from Beach Drive.

The units will be as large as 3,000 square feet and will offer two- to three-bedroom floorplans. The penthouses will be on two floors.

The Kolter Group is working with San Francisco-based SB Architects, which designed Kolter’s 41-story ONE St. Petersburg tower, the Saltaire waterfront condo development and the 18-story Ritz-Carlton Residences.

 

A rendering of the Kolter’s new 41-story condo towerA rendering of the Kolter’s new 41-story condo tower at 200 Central Ave. The facades feature floor-to-ceiling sliding glass doors, green-laminated glass windows and large balconies for the residents. City of St. Pete documents/ SB Architects.

The project will include co-working space for residents as a large part of the workforce has fully transitioned to the work-from-home model.

The 482-space parking garage will be on levels two through eight. It will be concealed behind textured screens.

The amenities will be on the ninth-floor level and include wellness/fitness spaces, a large pool deck, spa, social spaces, two guest suites, and a game/movie room with a golf simulator.

There will be 6,100 square feet of ground-floor retail space, which will face Central Avenue while the residential entrance will be on 1st Ave. South.

 

The site plan of Kolter’s new condo tower

Smith and Associates Real Estate will act as the brokerage firm for the condo sales and ULA out of Tampa will handle the marketing. The group has not selected a broker for the commercial space.

The Kolter Group expects the site plans to go before the St. Petersburg Development Review Commission in November or December.

The goal is to launch the sales at the start of 2022 and begin construction in the fourth quarter of next year.

A project of this magnitude would typically take two to three years to complete.

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