ST. PETERSBURG — Despite barriers caused by the pandemic, the people behind one downtown development say they continue to make progress toward breaking ground.
In November, New York-based Red Apple Real Estate announced the $300 million project on the 400 block of Central Avenue that would include a 46-story residential condominium tower. Now, Red Apple has announced it has filed foundation plans with the city of St. Petersburg for review and has plans underway to obtain preliminary worksite permits.
The 515-foot-tall residential tower in the development would exceed the height of ONE St. Petersburg, which stands at 456 feet, and would be the tallest building in St. Petersburg. The tower was recently approved by the Federal Aviation Administration, Red Apple announced Tuesday.
“We are thrilled that the 400 Central project continues toward marketing and construction,” said John Catsimatidis Sr., the founder of Red Apple Companies. “As a large, well-capitalized family owned firm with multiple businesses, Red Apple has the ability to look beyond temporary events and make long-term business commitments.
“I am optimistic about the future of St. Petersburg, a city where I have had family roots for over 30 years, and so we are continuing on all fronts with our plans to develop this iconic addition to the St. Petersburg community.”
Red Apple recently leased space for a gallery at 456 Central Avenue, across the street from the development, where buyers can view condominium designs.
Developers initially hoped to break ground in the spring of 2020 but now say construction is planned to begin in 2021.
The mixed-use development will also include a 20-story hotel, an 842-space parking garage, 25,000 square feet of retail and restaurants, and 20,000 square feet of office space.
The residential tower will include 300 condos and a glass-enclosed observatory on the 46th floor. It will also feature co-working space, a boardroom, a library, a private dining room and a theater room. The seventh floor will also include an outdoor terrace with a putting green, dog walking area, bocce court, pool and spa, among other amenities.
The city’s Development Review Commission approved site plans in early December of 2019.