Miami developer pays $14.75M for land in St. Pete's Edge district
By Breanne Williams
Tampa Bay Business Journal
Published: Feb 8, 2024

The Miami group behind Edge Collective, a mixed-use project in St. Petersburg’s Edge district, has paid $14.75 million for an assemblage of parcels for the development’s second phase.

An entity linked to PTM Partners closed on several parcels in the 1100 block of Central Avenue on Jan. 31, according to Pinellas County property records. The sellers were Tricera Capital and Eastman Equity.

The first phase of Edge Collective includes the Moxy Hotel and the renovation of a historic office and commercial building. Phase two will include 350 residential units via a 20-story tower and a seven-story building. The project will also include 20,000 square feet of retail space and 350 parking spaces.

Nicholas Pantuliano, chief development officer and chief operations officer for PTM, told the Tampa Bay Business Journal that Central Avenue is one of the best urban corridors in the country.

“It has everything that downtown would want,” Pantuliano said. “When you start to look at it, even from a functional standpoint, you have this really great pedestrianized Main Street. Then, as you go north and south, it becomes much more arterial with some more horsepower.”

Pantuliano said PTM intends to “thoughtfully curate” retailers for the project and hopes to identify tenants that align with the vision of the Edge district. Attracting local businesses will be a priority, and he said they will work with the Edge Business District Association.

The Edge district — much like the Grand Central, Innovation and Warehouse Arts districts — has its own unique character. Pantuliano said PTM wants to amplify that sense of place by building something that becomes a foundational part of the community.

The goal, he said, is to have people stay at Moxy and walk across the street to the Historic Gas Plant District for a baseball game. Then they can come back to the Edge district for dinner and drinks or meet up with friends for a market or event at the hotel.

Construction on the Moxy Hotel is expected to be completed in the next five to six weeks. The hotel team will then need six to eight weeks to officially open the hotel. He said the group plans to begin construction on phase two by the end of 2024 or early 2025.