Condos begin closing in downtown St. Pete's newest tower
By Henry Queen
Tampa Bay Business Journal
Published: Sep 11, 2024

Reflection, an 18-story condominium tower in downtown St. Petersburg, is now open.

City leaders received their first look at the building during an event on Tuesday. On the same day, 17 buyers closed on condos in the 88-unit tower. The prices ranged from $724,000 to $1.83 million, according to property records.

The project — developed by St. Pete-based HP Capital Group — overlooks Mirror Lake at the intersection of Third Avenue North and Eighth Street North. Construction began in 2022, and the building topped out in September 2023.

HP Capital Group partner Fred Hemmer said he is signing contracts every day and expects 30 more buyers to close by the end of the month. There are 17 units still on the market, he said. Three of those are on the 17th floor. (The 18th floor is dedicated entirely to community amenities.)

Keller Williams marketed the condos for sale.

Hemmer expressed pride in the completion of the project, which he said was impacted by the supply chain and interest rate effects of the Covid-19 shock.

"We've done a good job in light of the circumstances," Hemmer said.

The Mirror Lake community offers more of a neighborhood feel compared to other downtown towers closer to the St. Pete Pier, Hemmer said. Over 70% of the condo buyers at Reflection will live there full time, Hemmer said.

The two retail spaces on the ground floor of the Reflection have not been filled, but Hemmer said the area will be attractive to retailers as it continues to grow. A nearby seven-story condo building was recently approved by city leaders in a deal that will preserve a historic home.

Elsewhere in St. Pete, HP Capital Group partnered with Chicago-based Tandem Partners to build a 19-story apartment building on First Avenue North in the Edge district. Construction has yet to begin.