ST. PETERSBURG — Crews broke ground this week on Snell Isle on two nine-story condominium towers scheduled to open next year.
Water Club, at 1325 Snell Isle Blvd. NE, will house 84 condos ranging from 1,700 to 1,900 square feet and almost a dozen two-story townhomes with private two-car garages. Prices will start at about $500,000.
West Palm Beach developers the Kolter Group revived the long-stalled project last year on hopes of a resurgent market. The complex was designed in 2006 as a pair of 12-story towers with 5,000-square-foot penthouses, selling between $1 million and $3 million.
"This is the ideal time," Kolter vice president Bob Vail said. "The overall economy has improved, real estate inventory continues to decline, while the pent-up demand for luxury condominiums in the downtown St. Petersburg area continues to grow."