Developer plans 20-story apartment tower in St. Pete
By Breanne Williams
Tampa Bay Business Journal
Published: Jun 16, 2022

DevMar Development has submitted plans to build a 20-story apartment building in downtown St. Petersburg.

The group is planning to construct Sky St. Pete — an estimated $94 million project — near its 11-story Vantage St. Pete apartments. The development will sit on 0.73 acres.

Plans show a five-story podium with amenities like a coworking space and lobby on the first floor, as well as parking. A 15-story tower will be on top of the podium, which will include 246 residential units.

Mark DeMaria, CEO of DevMar, told the Tampa Bay Business Journal the sixth floor will be an amenity floor with a rooftop deck. It will feature a lounge, pool, splash deck, spa and grills. The 20th floor will have a large sky lounge where residents can look out at the St. Pete downtown skyline and enjoy views of the bay, as well as a gaming area.

“There are some highly desirable places to live in the country, and St. Pete is becoming one of those,” DeMaria said. “That’s the driver, to meet the demand. We like each of our projects to have their own personality. Our properties take on the spirit of what St. Pete is, and I think this project will reflect that as well.”

Sky St. Pete, planned for 17th Street N and Burlington Avenue N, lies north of the Edge District across from Booker Creek. According to DeMaria, the apartments will include 86 studios, 103 one-bedroom and 57 two-bedroom units. The two-bedroom units will be broken down into two beds, two baths and two beds, one bath.

There will be a total of 241 parking spaces and bike parking on site. DeMaria said this was one of the “most optimal places to develop” in St. Pete due to the zoning and its proximity to Central Avenue. Construction is estimated to take 28 months.

DeMaria said they were fully leased within approximately seven months on their neighboring development. The demand for residential has only grown since then, and he expects there to continue to be a need for multifamily developments in St. Pete as the city attracts more residents and businesses.

“St. Pete is exactly the kind of city people want to move to,” DeMaria said. “It’s a great city for entrepreneurs, there’s great dining and entertainment, and it’s such a desirable place to live. Plus, in your backyard is St. Pete Beach, which is constantly being rated as one of the best beaches in the country. You walk downtown and on Central, and you don’t see massive chains, you see small businesses, and that’s what millennials and Gen Z prefer. That’s why so many quality projects keep being built here.”

Residential homes currently on the property will need to be demolished for the project. The development will be presented at the St. Petersburg Development Review Commission Aug. 3.

DevMar is also building The Metro, a seven-story 100-unit residential development expected to open in early 2023 at First Avenue N. and 11th Street N.