24-story apartment tower to break ground in downtown St. Pete
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 1, 2021

Miami's American Land Ventures plans to break ground on 334, a 24-story apartment tower in downtown St. Petersburg, in the coming weeks.

The tower, which will include 220 luxury units, is at 334 Second Ave. S. in downtown St. Petersburg. Miami-based Coastal Construction, which recently wrapped up the JW Marriott in Water Street Tampa, has been selected as the general contractor.

Completion is expected in 2022.

“The decision to select Coastal Construction was an easy one. Their willingness to develop the GMP [guaranteed maximum price contract] with transparency, and their reputation of quality built projects, made them the obvious choice,” David Fellows, vice president of construction at ALV, said in a statement. “Coastal has built some of the state’s most iconic high rises, from the Porsche Design Tower in Miami to the Surfside Four Seasons Hotel at the Surf Club.”

ALV is no stranger to Tampa Bay. The developer built Arts and Entertainment Residences in St. Petersburg in 2016 and is under construction on an AER in downtown Tampa.

Coastal has built a major presence in Tampa since winning a large chunk of Water Street's first phase in 2018.

Coastal's projects within Water Street include the JW Marriott, residential tower Heron (the ground floor of which will be home to the city's first GreenWise Market) and 20-story office tower 1001 Water Street.

“We are excited to team up with American Land Ventures, and we are thrilled to build a major residential tower in beautiful downtown St. Petersburg,” Coastal's Central Florida President Craig Klingensmith said in a statement. “The city is so vibrant and its future is very bright and full of opportunities. We hope this is the first of many projects for us in the community.”

Mayor Rick Kriseman called the tower "a wonderful addition" to the city.

"It's an ideal location for residents eager to be within walking distance to restaurants and museums -- and they also will be able to buy groceries, fill prescriptions and attend to other necessities without ever starting their car," Kriseman said in a statement.