Allen Morris Opens LEED-Certified Tampa Bay Community

Located in the heart of downtown St. Petersburg, the $73 million, 348-unit community's 103 units are already leased. One of its highlighted amenities include a dedicated gallery space in collaboration with the Morean Arts Center.

The Allen Morris Co. has opened The Hermitage Apartment Homes, a 348-unit luxury multifamily community in downtown St. Petersburg, Fla. The $73 million property marks Allen Morris’ 81st development.

The Hermitage is located at 151 7th St., in the heart of downtown St. Petersburg, close to the Central Arts District, the Waterfront Arts District and a vast array of medical and university campuses, retail options, art galleries and museums.

The eight-story building boasts studios and one- and two-bedroom residences. Interiors include open floorplans, kitchens with granite countertops, two-tone cabinets and stainless steel appliances, as well as washer and dryer units. The property features a dedicated gallery space in collaboration with the Morean Arts Center, with additional artwork throughout the main lobby. Additional amenities include resort-style services, rooftop pool and spa, outdoor grilling area, fitness center, 2,000 square feet of retail, electric charging stations, private storage as well as dining and meeting areas with views of the bay.

The Hermitage Apartment Homes is LEED-certified and was 30 percent pre-leased (103 units) in April, according to Yardi Matrix data. The community is managed by ZRS Management.

The property was subject to a construction loan in the amount of $45 million, provided by TD Bank in 2015.