ONE St. Petersburg tops city's building boom
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05 / 05 / 15
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There are new shops, new restaurants, new hotels, and soon lots more new homes for those wanting to live in the center of it all

There is no denying downtown St. Petersburg is undergoing revitalization. There are new shops, new restaurants, new hotels, and soon lots more new homes for those wanting to live in the center of it all. As development booms in downtown, developers have moved in with construction crews ready to build anew on some of the city's most prime real estate.

Sometime in 2016, several new condos and apartment buildings are scheduled to complete construction: The Salvador, Beacon 430, Rowland Place and The Hermitage, just to name a few. One of the condo buildings set to open early next year that is unique from the rest is ONE St. Petersburg, located on First Street and First Avenue North. Unique because it combines real estate, hotel space and retail in one location.

"The building encompasses a whole city block," says Dave Traynor, VP at Smith and Associates Real Estate. "This includes 253 luxury tower residencies and approximately 16,000-square-feet of retail. A separate building, but on the same block, will be a 174-room Hyatt Hotel."

ONE St. Petersburg will be 41 stories and just over 450 feet high, giving residents a great view of downtown and the water. According to Traynor, the $280 million investment is slated to be the tallest building in downtown. While in the pre-construction phase at the moment, units have already been sold.

"We are in the process of selling units right now," says Traynor. "The Kolter Group will be handling the construction."

The condo building, a contemporary design by internationally acclaimed SB Architects of San Francisco and Miami, will feature one-, two- and three-bedroom units, plus nine penthouses. Prices for the units start from the high $600s and go up to over $3 million. Amenities such as a fitness complex, resort-style pool, lounges and game room are expected to attract residents.

Residents will be able to walk outside for lots of choices in shopping and dining.

"There will also be a combination of spectacular restaurants with unique shops,"he says. "We are very excited about this project."

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