Rendering of Kolter Neighborhood’s proposed 21-story, 62-unit rental tower in downtown St. Pete | Kolter Neighborhood
Plans to plot a 14-story resort on a renowned half of-acre location in downtown St. Pete were changed with a brand fresh proposal for a 21-story luxury rental tower.
The metropolis’s Style Overview Companies Division this week administratively licensed a $60 million rental challenge for a 0.Fifty three-acre location at 232 and 256 2nd Avenue North, located across the avenue from the Sundial browsing center and AMC movie theater.
Proposed by Kolter Neighborhood, one amongst the metropolis’s most renowned high-rise builders, the fresh tower will feature 62 residences, 7,600 square toes of industrial rental for a non-public membership club, and a 133-rental parking garage, more than double the 62 spaces required by code.
Kolter Neighborhood sold the property for $7.5 million in slack 2021.
The positioning beforehand contained a ground parking lot and an nearly 90-300 and sixty five days-veteran constructing that housed Fit2Run, the running distinctiveness retailer that relocated to a bigger storefront at 801 Central Avenue in 2024.
The Fit2Run constructing changed into demolished in March.
A 21-story 62-unit rental tower has been licensed for 232 and 256 2nd Avenue North in downtown St. Pete | Google Maps
In April 2023, the location changed into licensed for a 14-story, 192-room Tempo by Hilton resort with a 127-rental garage. Kolter has shifted a ways from these plans attributable to most in type market prerequisites.
An earlier 2022 proposal, a joint project with Ally Capital Neighborhood that would possibly maybe maybe maybe rep demolished the adjacent Alternate Resort, called for a 35-story residential tower paired with a 13-story resort. The proposal changed into rescinded sooner than receiving approval.
Designed by Coral Gables-based fully 10 Originate, the fresh rental tower will stand 260 toes colossal, nearly 90 toes taller than the beforehand licensed resort.
Unique renderings negate the constructing and its commence rental oriented in direction of 2nd Avenue North and third Avenue North, with a ground-ground foyer, commercial rental, and a fall-off location alongside 2nd Avenue. Several floor of screened parking sit above the bottom ground.
A residential amenity deck can be located on the sixth stage, with residences stacked above. Gadgets will feature huge balconies and ground-to-ceiling dwelling windows with panoramic views of the downtown skyline.
rendering of the east aspect of the proposed 21-story rental tower fronting 2nd Avenue North in downtown St. pete | Kolter Neighborhood
The 133-rental parking garage can be accessed from third Avenue North and the alley on the south aspect of the property. The challenge additionally involves 66 bicycle parking spaces: 62 lengthy-timeframe spots all over the constructing and 4 rapid-timeframe spots alongside the avenue frontage.
The property sits all over the Downtown Heart-1 (DC-1) zoning district, which regulates density through ground location ratio (FAR).
FAR measures how mighty entire constructing rental would possibly maybe maybe maybe also additionally be constructed on a location relative to the dimensions of the property.
The DC-1 zoning district permits projects with an FAR of as much as three.0 by upright. Projects designed with an FAR between 3.0 and 7.0 would possibly maybe maybe maybe also additionally be licensed during the metropolis’s streamlined approval course of, whereas projects exceeding 7.0 FAR require approval through a public hearing course of.
Kolter’s newly proposed rental tower is designed at 7.0 FAR, utilizing 4.0 FAR in bonuses and representing an rep better from the beforehand licensed resort’s 4.31 FAR.
These bonuses embody a 1.0 FAR bonus for contributing to the metropolis’s Housing Capital Improvements Projects (HCIP) belief fund to toughen personnel housing, a 0.5 FAR bonus from the acquisition of switch of development rights (TDRs) from a within the neighborhood designated landmark location, and an extra 2.5 FAR through a aggregate of eligible bonuses much like personnel housing toughen, historic TDRs, LEED certification or identical, streetscape enhancements, or added commence rental.
Station idea for Kolter Neighborhood’s proposed 21-story rental tower | Kolter Neighborhood
One condition that carries over from the prior approval is the preservation of the massive live oak at the northeast nook of third Avenue North. To supply protection to the tree, the builders can be granted a sidewalk variance decreasing the walkway width at that nook from 10 toes to 5 toes.
The formal challenge title and constructing timeline have not been announced.
The tower would be basically the most in type addition to Kolter Neighborhood’s rising Tampa Bay portfolio. The crew has constructed several luxury high-rises in downtown St. Pete, including Saltaire, Art House, and One St. Petersburg, and is currently constructing One Tampa, website to alter into Tampa’s tallest residential tower.
Kolter Neighborhood additionally recently bought the Hilton St. Petersburg Bayfront at 333 First Avenue SE for $96 million. The 15-story resort is expected to indirectly be demolished to rep manner for but some other rental tower.
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