In case you haven’t noticed, downtown residential development is booming in St. Petersburg. Three apartment buildings are completed, four others are in various stages of construction and six condo projects are underway.
So how do developers know if they haven’t overestimated the demand? The answer is – they don’t. Dave Goodman, the city’s economic development director, agrees that there is no way to perfectly project supply and demand, but he says, “all signs point to a pent-up need for downtown housing in various price ranges.”
The attraction to downtown is undeniable. More and more people – from young professionals, to empty nesters to retirees want to live in a walkable, urban environment. They want to enjoy the offerings of the reimagined retail venue of Sundial, the numerous restaurants, museums, art galleries and entertainment outlets as well as the natural beauty of the city’s waterfront parks.
The development boom includes:
The Arlington, The Hermitage, Campbell’s Landings, Beacon 430, Harbour’s Edge, 330 Third, Urban Landings, The Salvador, ONE (1st at 1st. Ave., N), Modera Prime, O.N.E. (131 Fourth Ave., N), Rowland Place and Bliss.
If you are interested in knowing more about these projects, please call The Mesimer Team at 727.686.2859.