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Tampa Bay-Lakeland
Business Observer Tuesday, Aug. 11, 2020 3 months ago

Developer moves ahead with major multi-use project

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Red Apple Real Estate opens sales gallery for downtown St. Petersburg tower.

ST. PETERSBURG — The COVID-19 crisis has not impeded Red Apple Real Estate’s plans for a transformative, multi-use tower in downtown St. Petersburg. 

According to a press release, the New York-based property developer has opened a sales gallery for the project, which will offer 1.3 million square feet of residential, retail, hotel, meeting and event space. Located at 400 Central Ave., in the heart of downtown St. Petersburg, the 46-story tower also reached another key milestone recently when the Federal Aviation Administration issued a “No Hazard Letter” regarding its height. 

“We are thrilled that the 400 Central project continues toward marketing and construction,” states John Catsimatidi, founder of Red Apple Cos., in the release. “As a large, well-capitalized family owned firm with multiple businesses, Red Apple has the ability to look beyond temporary events and make long-term business commitments. I am optimistic about the future of St. Petersburg, a city where I have had family roots for over 30 years, and so we are continuing on all fronts with our plans to develop this iconic addition to the St. Petersburg community.”

When fully built out, the release states, the project will include 300 luxury condominium residences, a 223-room boutique hotel, 25,000 square feet of retail and restaurant space along Central Avenue and more than 20,000 square feet of Class A office space. Residential amenities will include a fitness and wellness center, co-working space and board room, library, theater room, private dining room with an entertainment area, resort-style pool and spa, putting green, bocce court, outdoor kitchen, dog walking area and fire pit.

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