The rapid development of a notable luxury condo tower, the tallest residential building on Florida's west coast, is underway in downtown St. Petersburg. This prestigious project, initiated two years ago by Red Apple Development and Suffolk Construction, has made significant progress, with 11 of its planned 46 stories already completed.
This ambitious venture, spearheaded by billionaire John Catsimatidis, is set to redefine the city's skyline. Recently, St. Petersburg Mayor Ken Welch, along with potential buyers, were invited for a firsthand view of the ongoing construction. Mayor Welch hailed the project as a transformative development for the city.
Remarkably, the tower has already achieved over $250 million in residential sales, indicating its high demand. The completed structure will boast 301 condominiums, extensive office and retail space totaling over 100,000 square feet, and an exclusive observatory for residents at its summit.
The sales success, as reported by Red Apple Real Estate during a recent tour, underlines the project's appeal. Catsimatidis highlighted the diverse geographic origins of the buyers and expressed a personal connection to St. Petersburg, enhancing the project's significance for him.
With a height of 515 feet, the building will dominate the St. Pete skyline, offering luxury condos, vast retail areas, and high-class office space. Its construction, led by Suffolk Construction, is progressing at a remarkable pace, with a new floor added every six days.
A range of expert partners are contributing to the development, including Arquitectonica, Celano Design Studio, and Clear Ph Design, with Michael Saunders & Company spearheading sales. The condos, priced over $1 million, will feature premium finishes and amenities, including a 7th-floor deck with a variety of leisure facilities and a 46th-floor Sky Lounge offering breathtaking views.
In addition to residential spaces, the project is also marketing its substantial commercial space, set to significantly impact downtown St. Pete's retail landscape. The office spaces, located above the parking podium, will offer exclusive features and dedicated entrances.
Catsimatidis is actively seeking tenants for the commercial spaces, particularly targeting businesses looking to establish themselves in Florida. He emphasized the search for a high-end restaurant to elevate the local dining scene.
Projected to open in spring 2025, the tower, which commenced construction in October 2021, is not just a residential development but a landmark set to transform St. Petersburg's downtown area.
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