$500M Multi-Purpose Hub is Coming to Downtown St. Petersburg

A hundred-year-old furniture store at 1246 Central Ave. is buzzing with new energy. PTM Partners and Dovehill turned the space into an impressive 500,000-square-foot mixed-use complex, marking a big step forward for St. Petersburg's growth.

Phase one features 24,000 square feet of modern offices. New restaurants, including the flavorful Bosphorus Turkish Cuisine and a cozy gelato shop, attract visitors. The new Moxy Hotel towers over recently renovated nearby buildings.

"We are excited to continue to be a part of the further development of downtown St. Petersburg and the EDGE District with this second phase of the EDGE Collective," said Michael Tillman, Chief Executive Officer at PTM Partners, to St. Pete Rising.

Soon, an impressive 20-story tower will join the skyline. It will house 360 apartments above 24,000 square feet of ground-floor retail. A 356-space parking garage will stretch across five floors, while residents enjoy a seventh-floor pool deck retreat.

Old blends with new as the project preserves the building's character while adding modern touches. Brick walkways wind between stores, creating unexpected connections between businesses.

Natural light fills the spaces crafted by Storyn Studio for Architecture. Small alleyways link shops together, bringing a cozy urban atmosphere rarely seen in new developments.

"St. Petersburg is quickly developing its own identity on the national stage as a prime location to live, visit, and invest in," said Nicholas Pantuliano to St. Pete Rising.

Homes will range from snug studios to roomy three-bedroom units, split between a six-story building on Central Avenue and the main tower. Work starts in 2024, with doors opening in 2026.

The EDGE Collective brings 45,000 square feet of retail space to the district. This major project comes from PTM Partners, which oversees $20 billion in developments, working with Fort Lauderdale-based Dovehill.