41-story condo planned for prime downtown St. Pete property
City Center Orlando loader
09 / 17 / 14

A West Palm Beach developer has revealed plans for perhaps the most prime piece of undeveloped real estate in the city's downtown.

The Kolter Group is planning a 13-story hotel and 41-story condo tower on the Tropicana block on Central Avenue, a $120 million construction project that will transform the eastern end of Central Avenue and suggests that the downtown development boom is still gaining pace.

Tentatively named Tropicana Block, the 800,000-square-foot proposal includes a 456-foot-high tower with 253 condo units 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, a major addition to downtown's limited accommodation options for visitors.

Speculation about the future of the 2.2-acre lot located one block west of Beach Drive, between Central Avenue and First Street North, has been high since local developer and Tampa Bay Rowdies owner Bill Edwards flipped the property in June, making a $5 million profit in little more than three months when he sold it to a subsidiary of Kolter, county records show.

Primarily used for parking, the lot is something of a developer's dream. Close to the city's waterfront, it will offer Tampa Bay views from upper floors and is zoned to allow the city's highest density of development.

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