New Mixed-Use Tower in Downtown St. Petersburg Receives Approval

The City of St. Petersburg’s Design Review Commission (DRC) has given unanimous approval to the mixed-use tower planned by Clearwater-based developer Valor Capital. The City of St. Petersburg City Council, acting as the Development Review Agency, found that the project is consistent with the city’s Intown Redevelopment Plan (IRP) on January 3. The 25-story building, rising to 325 feet, will include 152 residential or hotel units, along with a 130-space parking garage and 4,893 of ground level commercial space. In addition to the commercial space, the lowest floor will include a 4,000 square foot lobby and 4,000 square foot open space plaza. The building will be hotel-condo hybrid, some of the units will be utilized as short-term rentals while others will be occupied by long-term residents. Community amenities would include a pool, fitness center, rooftop bar and pet spa. The developer plans to break ground in 2024, with construction anticipated to be completed in two-and-a-half to three years.

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