ST. PETERSBURG — The 10-acre development on the edge of Historic Kenwood is heading toward completion. Work is beginning on the final phase of the project, which when finished, will include six apartment buildings.
The newest will be a converted office building that will be known as the Steel Lofts and feature 12-foot ceilings. This last phase also includes a new four-story apartment building to be called the Wood Lofts. Frank Guerra, founding principal of Altis Cardinal, which developed the project, said he expects residents to begin moving in during the last quarter of 2020.
PREVIOUS COVERAGE: Altis Cardinal builds what it describes as hip, cool apartments on the edge of Historic Kenwood
The groundbreaking was recently held for a new gym and leasing office. The entrance of the new leasing office will be off Third Avenue N, in keeping with the name of the apartment community, Elements on Third.
When complete, the project, designed by Place Architecture of St. Petersburg, will consist of a total of 431 apartments. Guerra, whose South Florida firm bought and demolished the infamous Mosley Motel, said he is pleased with the change that Altis has brought to the area between 34th and 31st streets and Fifth and Third avenues N. The firm made its first purchase in the city in 2012.
St. Petersburg "was an area that we identified that we wanted to be," Guerra said. "The growth was identifiable and it was a very dynamic younger demographic that was growing faster than other portions of the demographic and our product is a perfect fit for that younger dynamic."
Altis Cardinal also submitted one of seven proposals to redevelop St. Petersburg's former police headquarters.