Plans call for a mixed use project, including a residential condominium, hotel, retail and parking. Kolter will close on the acquisition of the block from an Edwards Group affiliate next month and will develop the two-tower complex. The project is expected to break ground in the first quarter of 2015 and be completed by the end of 2017.
The Kolter group is a private investment firm that is focused on real estate developement, investment and construction. Since 1993 this group has sponsored over $10 billion of real estate transactions across multiple asset classes and geographies. Recognized as one of Florida's leading developers, Kolter brings more than 17 years of experience in Florida development and construction to each of its communities. Its team of seasoned executives has nearly 200 years of collective real estate experience and together they have sourced, developed, invested or financed over $16 billion in real estate transactions.
The block is regarded as vital, pivotal and premium in the booming economy of St. Pete. Bobby Julien, CEO of the Kolter Group remarked, "We love St. Pete, the city's downtown is emerging as one of the nations special urban centers, and we are excited to be a part of its future." Cheers to a now burgeoning skyline and an open door to the rest of the world anxious to find their place in the Sunshine City.
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