Boutique condo tower begins construction in downtown St. Pete
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 18, 2022

Construction is underway at The Nolen, a boutique luxury condominium in downtown St. Petersburg.

The condominium is located at Fourth Avenue NE, near The Vinoy Renaissance and North Straub Park. DDA Development is the developer. The project team is comprised of Backstreets Capital, PLACE Architecture, Melissa Kelly Design Studio, Ellison Construction and Smith & Associates Real Estate. All are based in the Tampa Bay area.

The 23-story tower has 31 condos. Floors five through 15 will have two units per floor, and floors 16 to 23 will have one unit per floor, plus a penthouse unit. Ellison Construction of Tampa is the general contractor.

DDA announced in January that 50% of the condos were presold; on Tuesday, that figure had climbed to 65%. Prices start at $2 million. The team secured a $45 million construction loan with CIBC U.S., according to a representative for the developer.

Construction is expected to take 20 months.

“The Nolen offers new buyers an exclusivity unrivaled in this market,” David Moyer, director of sales at Smith & Associates Real Estate, said in a release. “With only two residences per floor, robust amenity features and high-end finishes that are rarely available in the St. Pete condo market, the building strikes the right balance of luxury and privacy with a connection to the vibrancy of Beach Drive.”

The development team purchased the land for The Nolen for $7 million in December 2021, according to Pinellas County property records. The development team relocated a historic 1912 Bay Gables home from the property in August. The other home on the property was demolished.