Developer launches presales for 42-story condo tower in downtown St. Pete
By Breanne Williams
Tampa Bay Business Journal
Published: Feb 1, 2022

The South Florida developer behind a new 42-story condominium tower in downtown St. Petersburg has started pre-selling the units.

Kolter Urban, based in Delray Beach, has launched sales for the 244 residences at the Art House at 200 Central Ave. The units include two- and three-bedroom units, ranging from 1,380 to 2,637 square feet, and are priced from the $800,000s.

The developer has altered its plans slightly from when Art House was first announced. The top three floors will now house 12 penthouse units. The initial plan called for two floors of penthouse units. The units will have floor-to-ceiling windows and terraces that have a view of the downtown skyline and Tampa Bay.

Construction is slated to begin in May, with an expected completion date of late 2024. Smith & Associates Real Estate is marketing the condos for sale; a sales gallery for the tower is open at 330 Beach Drive NE.

Kolter has become one of the Tampa Bay region’s most prolific condo developers. The developer was behind ONE, a 41-story tower in St. Pete that was seen as pioneering when Kolter bought the site in 2014, as well as Saltaire in St. Petersburg and Hyde Park House and a forthcoming tower in downtown Tampa.

“The market remains strong, and there is continued interest in St. Petersburg and in particular living downtown,” Brian Van Slyke, regional president for Florida’s West Coast for Kolter Urban, told the Tampa Bay Business Journal. “We’ve gotten very strong registrations on our website already ahead of launch. There’s been continued interest in condo living in downtown St. Pete.”

A ninth-floor amenity suite includes a pool and spa, club room, private dining room, fitness center, theater, game room and outdoor dog park. Guest suites will also be on-site, as will The Hub, a coworking space on the first floor for work-from-home residents. The Hub will feature a communal space, private and semi-private cubicles, privacy pods and a conference room. There will be approximately 6,000 square feet of street-level retail and restaurant space with frontage on Central Avenue.

Van Slyke said there is a continued demand for the luxury lifestyle that can only be offered in a thriving downtown. Kolter, he said, has not set any particular expectations on reservations, and they “remain confident” in the market.

He said Kolter has a track record of starting projects quickly after launch and is not subject to meeting a threshold of presales before they break ground.

As for the ground-floor retail, Van Slyke said Kolter would love to see a restaurant go in the space. There are various dining options on the block, so he believes it would be a great fit for the area.

The project was designed by SB Architects, and ID & Design International did the interiors. Tampa-based United Landmark Associates oversees marketing. According to a release, Art House will have “designer finishes, features and appliances that allow residents to uniquely personalize their retreat.”

“Kolter Urban is thrilled to launch Art House and further elevate the thriving community of St. Petersburg,” said Bob Vail, president of Kolter Urban. “We have been extremely bullish on St. Petersburg for years and have earned a reputation for delivering amenity-rich, luxury condominiums to market.”

The Kolter Group purchased the 0.4-acre site at 200 Central Ave. where Art House will rise for $20.45 million in December, breaking the sales price down to approximately $50 million an acre.

Kolter took out a mortgage from Regions Bank in December for just over $13.29 million, according to Pinellas County records.