Luxury branded condos? St. Pete's Feldman Equities shares more details on City Center parking garage redevelopment
By Breanne Williams
Tampa Bay Business Journal
Published: Jul 10, 2024

St. Petersburg-based Feldman Equities has revealed it is in talks with two partners to redevelop a parking garage in downtown St. Pete into luxury condominiums.

The potential redevelopment of the prime downtown property went public on July 1 after Feldman Equities sent a letter to its tenants at the City Center office tower addressing social media posts about the potential demolition of the six-story garage adjacent to the tower.

City Center building management told tenants that only the garage was being considered for redevelopment, and the office tower — which is undergoing an extensive renovation — would remain fully operational.

Feldman on Tuesday revealed that its project may include branded condos, which would be a first for downtown St. Pete if the redevelopment comes to fruition. Tampa has multiple branded residential condos, including the Ritz-Carlton Residences, Tampa Edition and Pendry Tampa.

“Property Markets Group, City Office REIT and Feldman Equities are actively finalizing plans to bring a five-star, luxury-branded condominium project to St. Petersburg, which will continue to enhance the vision city officials and community leaders have for the city,” Mack Feldman, vice president of Feldman Equities, said in a statement.

The parking garage sits on the corner of Second Ave. S and Second St. S in the heart of downtown St. Pete. The property lies a block from Al Lang Stadium, Demens Landing Park and the Mahaffey Theater. It is also adjacent to Saltaire, the luxury condominiums built by South Florida-based Kolter Urban.

“We are committed to working alongside key stakeholders to deliver a high-quality, architecturally significant development that will become a signature property in St. Petersburg," Feldman said.

Feldman Equities also owns Castille at Carillon, the Morgan Stanley Tower and First Central Tower in downtown St. Pete and Park Tower in downtown Tampa. PMG is behind multiple luxury condominium projects, including the Sage Longboat Key Residences, One Park Sarasota and One Park West.