Florida.Simms.com

Choose Your Lifestyle

Categories

Translator

Archives

Cranes reappearing in downtown St Pete

Construction cranes are back in downtown St Petersburg

Construction Cranes are Back

Cranes are reappearing in downtown St Petersburg as hundreds of rental apartments are planned for downtown St Pete.  After a few years of stopped high-rise condo projects, it’s refreshing to see activity on some of the cleared, empty lots.  It’s a sign of spring and birds as we watch the construction.

This crane is at the corner of 6th St S and 4th Ave S  where Campbell Landings are going up. Plans are for this to be a 4 story building with 96 units of senior housing. The 1 and 2 bedroom units will be for those 55 and older. You can expect 1 and 2 bedroom units, from 708 sq ft to 915 sq ft. One uncommon amenity planned is a vegetable garden for the residents. Speculation is that units will rent for $280 – $678/month. It’s nearly impossible to find anything new in downtown St Pete for those rental prices!

Construction equipment and a crane are also at work on Bayway Apartments, which are being built across from the Hotel Indigo, in the 200 block of 3rd Avenue N. 324 units are planned, with 8 stories. Plans call for 233 1-bedroom units, 74-2 bedroom units and 17 studio units. They are adjacent to the Huntington Townhomes.

Land clearing and preparation is going on for Urban Edge, a 5 story development with 125 units planned. It’s on the south side of 4th Avenue S between 3rd and 4th Streets S – just west of The Madison. 40 units are planned to be at market rate, from $1,600/mo to $2,000/mo and 8t will be affordable units for seniors.

Planned, but not yet out of the ground are another 300 units at Sol, at 4th St S and 4th Ave S.  Plans are to build a 4 story block with 1 to 3 bedroom units, 600-1,200 sq ft, with rents possibly in the $800 – $1,800/month range.

Rentals are scarce right now in downtown St Pete condo buildings – there are only 6 condo rentals currently active in the MLS (in the area from 4th St to the bay, 5th Ave N to 5th Ave S). Some of our clients are buying downtown condos as an investment and renting them out – we often have found tenants  even before the property has closed.

Only caution – if too many units come on the rental market at the same time, it could be a temporary glut. The pendulum never stops in the middle.

Print Friendly
  1. Bowen Arnold

    We are the developers of Campbell Landings. Your rental information is correct. Units are income qualified, but the rental schedule is as follows:

    5 1/1s @$280
    5 1/1s @$460
    39 1/1s @$560

    5 2/2s @$330
    5 2/2s @$550
    37 2/2s @$680

    You have a terrific site, and we appreciate your support of Downtown St Pete! Feel free to contact me with any questions. We will have a website up soon with floor plans, rent levels etc.

Leave a Reply

Add to Technorati Favorites Directory of Real Estate Blogs Real Estate Blogs - Blog Top Sites

Copyright © 2007 Florida Simms     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs