DevMar Development has purchased several properties in downtown St. Petersburg where it plans to build Sky St. Pete, a 20-story residential tower.
The tower will rise at 1624, 1642, 1650 and 1662 Burlington Ave. N. The developer bought the site at 1624 Burlington Ave. N for $4.5 million from Valrico-based Koterba Investments FL LLC, according to a Pinellas County deed.
Mark DeMaria, CEO of St. Pete-based DevMar, confirmed to the Tampa Bay Business Journal that the other parcels have closed as well, though a deed has not yet been filed.
The tower is DevMar’s third project in St. Pete and lies one block away from Vantage St. Pete, which opened in 2020.
“We are just excited to further develop this area right where Vantage is and where two other great projects have completed recently,” DeMaria said. “This area is right between the Grand Central district and the Edge district and it’s filling that gap with residents that can occupy both districts.”
The Development Review Commission approved plans for the tower in October 2022. The tower will have a five-story podium as its base that will include a parking deck, lobby and a coworking space. The parking garage will be on floors two through five and will be accessible from 17th Street North.
Fifteen stories of apartments will be stacked on top of the podium and will include a mix of studios, one-bedroom and two-bedroom units.
Resident amenities include a splash deck, spa and grills, pool, bike storage and a sky lounge. DeMaria said they are evaluating whether they will have the the pool amenity built on the 20th floor roof deck or the roof of the parking garage.
Michigan-based Fusco Shaffer & Pappas is the architect for the project. Construction is expected to begin in July and is estimated to be complete in 24 months.
DevMar is also behind The Metro, a seven-story, 100-unit residential development at First Avenue North and 11th Street North.