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Historic Groundbreaking in Downtown St. Petersburg

Mayor Rick Kriseman and Community Leaders Celebrate the $90 Million Economic Impact of ONE St. Petersburg at the 41-story Tower's Groundbreaking on March 4, 2016
 
Mayor Rick Kriseman and city officials will celebrate the historic groundbreaking of the 41-story condominium tower, ONE St. Petersburg, on Friday, March 4, 2016. Once completed, ONE will be the tallest building in Downtown St. Petersburg and include 253 luxury condominium homes, a 40,000 square foot elevated resort deck featuring a fitness center, swimming pool, private cabanas, whirlpool and spa, and a 173-room Hyatt Hotel with over 17,000 square feet of retail space.
 
"The decisions we make today will shape Downtown for generations to come. ONE St. Petersburg will be a defining project for the next era of Downtown St. Petersburg, adding to the vibrancy of this great city, said St. Petersburg Mayor Rick Kriseman. “ONE St. Petersburg highlights what St. Pete has become – a pinnacle for contemporary downtown living. We are creating an urban core that invites you to live, work, and play all year round.”
 
ONE St. Petersburg was developed by the Kolter Group and designed by the world-renowned firm, SB Architects. The design introduces a new standard of contemporary condominium living with stunning water views and luxurious amenities. With sales topping $110 million to date, ONE St. Petersburg is the #1 selling condominium in the Tampa Bay Area. “Since we began sales at ONE in July 2015 every other day someone decided to make ONE their new home,” said Dave Traynor, Director of Development Services at Smith and Associates Real Estate.
 
The groundbreaking is 90 days ahead of schedule, and the entire project is expected to be an economic boom to St. Pete. “We are thrilled to begin building this iconic tower that will redefine St. Petersburg’s skyline and help further establish St. Petersburg as an international destination,” said Bob Vail, President of Kolter Urban, Kolter Group about the significance of the groundbreaking event.
 
Construction will generate over $90 million in employment and labor wages, primarily for Tampa Bay area businesses, and employ between 350 and 500 workers on a daily basis. The completed project will create 150 full-time employment positions and increase the property tax revenue to the City of St. Petersburg by over $5.5 million annually. “ONE St. Petersburg is one of the biggest projects the city has seen in years and it is going to make a positive impact,” said St. Petersburg City Council Vice-Chair and Business, Finance & Taxation Committee member Darden Rice. “The impact will be felt in the jobs it will create and the tax revenue it will generate. This project will only increase the financial health of our city.”
 
Spearheading the construction is KAST Construction Company and Decorators Unlimited will complement the sleek, modern aesthetics of the building with modern, luxurious décor. ONE St. Petersburg will include 253 luxury condominiums with homes ranging from 1,400 square feet to up to 2,500 square feet and prices starting at $600,000. Smith & Associates Real Estate is the exclusive listing agency for ONE St. Petersburg. “Downtown St. Pete is an attractive residential destination. People want to live in a walkable city, close to shops, culture, green spaces, and restaurants, said Bob Glaser, President, and CEO of Smith & Associates. “ONE will complement the booming upscale urban living that is defining this city.”
 
In addition to the residences, there will be a 174-room Hyatt Hotel, slated to open in 2017, restaurants, bars, meeting spaces and retail space. For more information on ONE St. Petersburg, visit www.onestpetersburg.com.

ONE St. Petersburg's Historic Groundbreaking:
Friday, March 4, 2016
100 1ST Avenue North
ST. Petersburg, FL 33701
Open to the Public with City Officials Invited
10 am - 12 pm