Wednesday, October 17, 2018
Real Estate

25-story tower with 100 residential units planned near St. Pete’s Sundial

ST. PETERSBURG — A 25-story mixed-used tower that would be among the tallest buildings in Pinellas County is planned near the Sundial shopping and entertainment complex in downtown St. Pete.

Located at 232 2nd St. N, the tower would replace a parking lot and a building that now houses the Fit2Run runners shoe and apparel store. The proposal calls for 100 residences plus 7,000 square feet of ground-level commercial space; 218 parking spaces on levels two through six; and a swimming pool and "amenity space" on levels seven and eight.

The application to the city does not say whether the living units would be rentals or condos. The building would soar 299.61 feet, which would exceed the height limits of the Albert Whitted Airport "horizontal zone’’ and require a determination from the Federal Aviation Administration that it would pose no hazard to aircraft.

EARLIER COVERAGE: Lilly Pulitzer shop is coming to St. Petersburg Sundial this year

Loan Ranger Acquisitions, one of entrepreneur Bill Edwards’ companies, bought part of the tower site six years ago for $1.05 million. Loan Ranger is listed as the applicant for the project, although lawyer R. Donald Mastry, acting as agent, said he understands that the site will be sold and developed by another party.

Four years ago, Edwards redeveloped the struggling BayWalk complex nearby into Sundial with several stores, restaurants, the Locale Market and an AMC movie theater.

The 23,270-square-foot tower would be across 2nd Street from the theater and catty-corner to Locale. Designed in a modern style, the building would set back from the north and west property lines to allow for green open space. Short-term bicycle parking is proposed along 2nd Street N.

The area of downtown St. Petersburg near Sundial has seen a rush of activity in the past few years. The 11-story, 92-room Galaxy hotel is under construction directly north of Sundial.

In 2014, Edwards sold a block south of Sundial that is now the site of a new Hyatt Place hotel and the soon-to-be finished ONE St. Petersburg condo tower, which at 41 stories will be the tallest residential tower on Florida’s west coast. Across from that is the new James Museum of Western and Wildlife Art.

Edwards’ company is seeking streamline site plan approval of the tower, which would spare it from public hearings unless an appeal was filed. Included with the application are letters in support from Edwards and from Feldman Equities, which owns the nearly Morgan Stanely office building.

Contact Susan Taylor Martin at [email protected] or (727) 893-8742. Follow @susanskate.

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