Kettler, a partner in Ybor City's Gas Worx, buys St. Pete assemblage
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 22, 2022

Kettler, which made a splashy entrance to the Tampa Bay market with its involvement in Gas Worx, has acquired just over an acre in St. Petersburg's Edge district.

The Washington, D.C.-based developer confirmed to the Tampa Bay Business Journal that it has assembled 1.06 acres on First Avenue North between 13th and 11th streets north. It paid a total of $20.8 million for the assemblage on Nov. 8, according to deeds filed in Pinellas County Nov. 17.

Valley National Bank provided a $13.225 million mortgage for the transaction, according to county records. Valley National Bank also provided a construction loan for the first phase of apartments in Gas Worx.

A Kettler representative declined to say what the developer has planned for the property. Kettler, the representative said, is "looking for additional opportunities to develop and redevelop properties throughout Central Florida."

An acre in an up-and-coming urban neighborhood like the Edge district will almost certainly be the site of a mixed-use development with residential units and commercial space. The Edge district has been transformed in recent years, and Kettler's site is within walking distance of Tropicana Field. The 86-acre, city-owned Trop property is on the verge of redevelopment; proposals for the redevelopment are due to city hall by Dec. 2.