$100 million apartment tower in St. Pete's Edge district moves forward
By Breanne Williams
Tampa Bay Business Journal
Published: Jul 21, 2023

Plans for a $100 million mixed-use tower in St. Petersburg’s Edge District have received unanimous approval.

City commissioners, acting as the Community Redevelopment Agency, approved the project Thursday evening. The tower, which will be built at the northwest corner of First Avenue North and 11th Street N., will be 21 stories high. It will have 310 residential units, 6,766 square feet of commercial space, 351 square feet of office space and a 360-space parking garage.

The approval comes as the multifamily market in Tampa Bay has plateaued. Developers and apartment investors say the decade-long boom has finally slowed.

The developer, Virginia-based Kettler, will build the tower on the existing surface parking space and a portion of the existing commercial spaces on the property. At the site, 24,649 square feet of office space and 8,177 square feet of commercial space will remain, according to the application.

The remaining buildings are currently home to Zubrick Magic Theatre and the MÜV dispensary. The building that was home to the Deep Blue Fitness gym will be demolished.

Kettler purchased the property in November 2022 in several transactions that totaled approximately $20.8 million, according to deeds filed in Pinellas County.

The plans will still need to go before the Development Review Commission. The development team includes civil engineering firm George F. Young and BDG Architects.

Kettler has several other projects in Tampa Bay. In March it was announced Kettler would join a partnership of St. Petersburg-based Eastman Equity, led by Jonathan Daou, and St. Pete-based Blake Investment Partners, led by Blake Whitney Thompson, for a project in St. Pete’s Union Central district.

Kettler is also a partner in Gas Worx, a mixed-use district in Tampa's Ybor City.