New Florida Condo Development Breaks Ground

St. Petersburg, Fla.—The Kolter Group is developing ONE St. Petersburg, a planned 41­story condominium tower in St. Petersburg, Fla., set to open in 2017.

Designed by SB Architects, once completed the property will include 253 luxury condominium homes; a 40,000-square-foot elevated resort deck featuring a fitness center, swimming pool, private cabanas, whirlpool and spa; and a 173­room Hyatt Hotel with over 17,000-square-feet of retail space.

The homes ranging from 1,400 square feet to up to 2,500 square feet and prices begin at $600,000. Smith & Associates Real Estate is the exclusive listing agency for ONE.

“ONE St. Petersburg will have the best panoramic views of the city being that it is the highest building in the downtown district,” Dave Traynor, Smith & Associates’ vice president of real estate and developer services, told MHN. “This landmark building will occupy one city block with residences, retail shopping and a Hyatt hotel.”

To date, sales have topped $110 million, making ONE St. Petersburg the top-selling condominium in the Tampa Bay Area.

According to Traynor, there has been extremely low resale inventory and nothing new in high-rise construction for several years.

St. Petersburg is the most walkable small city in Florida with amazing restaurants, shops and museums all within close proximity. Data shows that it’s a city attracting buyers from all over the world looking for walkability, outdoor cafes, sunshine, and water vistas.

“Smith & Associates is a boutique real estate firm that is highly invested in the fabric of the community,” Traynor said. “Not only do we work here, but we live and raise our families here too. ONE St. Petersburg appeals to building a great neighborhood so that St. Petersburg is not just the place you go to for work, but it is where you work, live, and play.”

The groundbreaking was 90 days ahead of schedule and the entire project is expected to be an economic boom to St. Pete, generating more than $90 million in employment and labor wages through construction, and creating 150 full-­time employment positions once finished.