One of the EDGE District’s most highly-anticipated projects is now officially set to come to life.
PTM Partners and DoveHill Capital Management announced today that they have secured a $42 million construction loan, officially closing the deal on May 17th. This announcement means that developers are ready to begin construction immediately on the EDGE District’s first lifestyle hotel, the Moxy Hotel by Marriott. The hotel will be the anchor of the Edge Collective, which also includes a four-story, 17,000-square-foot mixed-use development with retail, restaurant, commercial and public spaces.
With architecture by local firm Storyn Studio, the-163 key Moxy Hotel will be complemented by an outdoor garden and retail paseo, as well as a refurbished four-story building with 17,000 square feet of ground level retail and restaurant space, plus commercial space above. The project is located at 1234-1246 Central Avenue on the property between Bodega On Central and Ferg’s Sports Bar & Grill.
The hotel itself will also feature a rooftop bar and restaurant with views of Downtown St. Pete, as well as a rooftop pool, along with a lobby bar and café.
According to Storyn Studio, The Edge Collective will include “a European-inspired, full-service food hall managed by the team behind the Hall on Franklin in Tampa; a midblock paseo with unique experiential features; a 7,000-square-foot outdoor garden; and 4,500 square feet of dedicated retail space.”
The food hall-style pop-up market currently at The EDGE Collective will continue operations and become a permanent part of the final project once completed.
After initial delays, The Edge Collective is moving forward with construction
Original plans for the project had been delayed, and the announcement by PTM Partners, one of the leading Opportunity Zone-focused development firms in the country, and DoveHill Capital Management, a vertically integrated hospitality real estate developer, owner and operator with extensive experience in Florida, signaled that the development is now a full go.
“In partnership with DoveHill, we are confident that all of the components are now in place to bring our vision of the Edge Collective to fruition,” said Nicholas Pantuliano, Chief Development Officer and Chief Operations Officer of PTM. “The mixed-use development will offer an innovative and inclusionary destination for the community and tourists to experience, which will further complement the neighborhood’s dynamic offering.”
Groundbreaking details are expected to be shared soon. Stay tuned to I Love the Burg for more updates on The Edge Collective.