With a hat tip from Welch, 42-story Art House condos break ground in downtown St. Pete
By Breanne Williams
Tampa Bay Business Journal
Published: Jun 22, 2022

In a move its regional president called “unprecedented and rare,” developer Kolter Urban on Wednesday started construction on the 42-story Art House condominium tower in downtown St. Petersburg — with more than 100 units reserved just three months after presales began.

“It’s indicative of there still being a strong demand for luxury living in downtown St. Pete and Kolter’s projects,” Brian Van Slyke, regional president for Kolter Urban, told the Tampa Bay Business Journal. “This is on par with what we’ve done in St. Pete, and the location is fantastic right on Central Avenue, right in the middle of everything. We’ll have great water and city views.”

Van Slyke said the buyers are split evenly between locals and those from out of state. Construction is estimated to be complete by the end of 2024. Kolter Group bought the 0.4-acre site for Art House in December for $20.45 million, equating to approximately $50 million an acre. The developer also took out a mortgage from Regions Bank in December for just over $13.29 million, according to Pinellas County records.

Art House will include 244 condos with two- and three-bedroom floor plans. Floors two through eight will be a 482-space parking garage, and the street level will include 6,000 square feet of retail and restaurant space along Central Avenue. Van Slyke said Kolter plans to build a restaurant on the ground floor as it would blend well with the other dining spaces on the block.

Wednesday’s groundbreaking, attended by Mayor Ken Welch, celebrated more than a luxury development. Welch praised Kolter for doubling down on its workforce housing contribution. The group is increasing its contribution to the capital improvement fund from $600,000 to $1.5 million. He said Kolter has been “ahead of the curve” when it comes to investing in St. Pete and thanked the developer for its belief in the city.

Kolter’s projects, Welch said, have created hundreds of jobs across a diverse range of industries, from construction to marketing and advertising.

“This adds up to millions of dollars of investment in our St. Petersburg economy,” Welch said.

The ninth floor will have an amenity suite with a club room, pool and spa, game room, outdoor dog park, private dining room, fitness center and a theater. Other amenities include guest suites and coworking space on the first floor called The Hub. Van Slyke said it is important to offer that flexibility to residents and made it a priority to have a professional work environment right outside their doorsteps.

Smith & Associates Real Estate is marketing the Art House condos for sale; Coastal Construction is the tower’s general contractor. SB Architects designed the project and worked with Kolter on ONE St. Petersburg, Saltaire and the Ritz-Carlton Residences in Sarasota. ID & Design International designed the interiors.