Kolter Multifamily Plans 600+ Unit Tampa-Area Development
The project would take shape on a former college campus.
Kolter Multifamily has submitted development plans for Alton Skyway, a 619-unit luxury apartment development located in the city of St. Petersburg, Fla. News of the project was first reported on by St. Pete Rising, amid Kolter’s growing development footprint in the Tampa metro.
The proposal calls for constructing an eight-building garden-style community and 5,000 square feet of commercial space on a 17.3-acre parcel.
St. Petersburg’s Development Review Commission will review the application in February 2026.
Tall order
The application states that the project would be constructed in two phases, with the first delivering 342 units and the second bringing 277 units. If approved, Alton Skyway would comprise a mix of one, two- and three-bedroom apartments ranging from 618 to 1,322 square feet.
Community amenities would include two pools and a dog park, and all apartments would have balconies. The proposal also includes a stormwater pond in the center of the property.
Dwell Design Studio will be the project’s architect, with Dix.Hite + Partners designing the landscape and Kimley-Horn serving as civil engineer.
The property is located at 3200 34th St. S., across the street from a Sprouts Farmers Market. The site is within a few blocks of Interstate 275, and downtown St. Petersburg is within six miles. Downtown Tampa is about 26 miles away, while Tampa International Airport is some 22 miles.
History of the property
The property that could one day be home to Alton Skyway previously served as the Allstate Campus of St. Petersburg College, St. Pete Rising reported. The insurance company had previously donated the land to the college in 1989.
St. Petersburg College announced in February 2024 that it would sell the property, with the land coming under contract in October 2024 for $26 million. The same month, the St. Petersburg City Council voted to rezone the property from institutional to planned redevelopment commercial, allowing for construction of a mixed-use property.
Tampa absorbs a delivery wave
Average advertised asking rents in the Tampa-St. Petersburg metro declined 60 basis points through September 2025, reaching $1,789, according to a Yardi Matrix report. The year-over-year figure declined 70 basis points.
READ ALSO: 2025 Rent Growth
Multifamily deliveries in the area totaled about 8,500 units in the first three quarters of 2025, with an additional 18,000 units under construction and 104,500 in the planning and permitting stages.
In June 2025, Kolter Multifamily, an affiliate of The Kolter Group, began construction on Alton Palmetto, a 276-unit, garden-style community in Palmetto, Fla., located in the Sarasota-Bradenton submarket. The first units in that development are expected to be completed by fall 2026.
