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Birchwood Inn in downtown St Petersburg

Birchwood Inn, the newest old hotel in downtown St Petersburg is getting close to opening. Articles have said it will open in May – when I drove by last week and saw mattresses outside for the rooms, I knew it was close.

Chuck and Kathy Prather have been “renovating” the hotel since they bought it in 2011. They gutted it to its shell, have been rebuilding it to historic dimensions and then adding 2 stories. The boutique hotel will have 18 rooms, a restaurant and a rooftop lounge. I can’t wait to see the views from there.

The hotel was built in1924 as Lantern Lane apartment hotel. In the 1960s the Grayls purchased it and changed the name to Grayl’s Hotel. Grayl’s was given a historic designation by the city of St Pete.

We look forward to welcoming our new neighbor, Birchwood Inn.

Birchwood Inn progressing in downtown St Petersburg  11/13/12

 Hotels find rooftop bars are very popular – Birchwood Inn in St Petersburg  7/16/12

From Grayl’s to Birchwood Inn 5/14/12

Downtown

 

 

 

 

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Downtown St Petersburg Condos Rental Market Report April 1, 2012

Downtown St Petersburg Waterfront View

Downtown St Petersburg Waterfront View

 

Downtown St Petersburg  Condos Rental Market Report as of April 1, 2012

There were only 13 condo units availablefor rent in downtown St Petersburg on the first of April 2012, ranging in price from $900 to $5,000/month. The number of available units has decreased significantly over the last 2 years – a year ago there were 26 to choose from and two years ago there were 29.

The decreasing inventory in rentals and sales means higher prices, the usual response to Supply and Demand. The market is hyper local, though, and whether prices are going up or down will depend on the specific building. For more information on a particular condominium, contact The Simms Team at ALVA International, Inc. (727) 341-8400.

Most leases are for a minimum of one year.  Some condos will allow a shorter rental but only allow one rental per year. The exception to this is Signature Place, which has a minimum rental period of one month and allows 3 rentals per year.

During March 2012 there were 9 condos leased, which indicates a supply of less than 6 weeks.  Year to date 19 downtown St Petersburg condos have leased, ranging in price from $850/month to $5,500 per month.

Note: These statistics are taken from the My Florida Regional MLS, which does not include all rental transactions that take place. For this report, “downtown” is defined at the area from 5th Avenue N to 5th Avenue S, from 4th St to Tampa Bay, including both sides of the border streets.

 

 

 

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