Kolter sells parking garage back to Hilton as part of Saltaire development deal
By Breanne Williams
Tampa Bay Business Journal
Published: Mar 9, 2022

Saltaire, a luxury condominium tower under construction in downtown St. Petersburg, has reached another milestone: Developer Kolter Urban has transferred the ownership of the parking garage it built on the site back to the Hilton St. Petersburg Bayfront.

A deed filed on March 9 shows Kolter legally transferred ownership of the parking garage to the hotel and paid Hilton $4 million as part of the original deal.

South Florida-based Kolter purchased the Hilton's surface parking for the development of the 35-story, 192-unit Saltaire. Kolter then — as part of the original deal — built a parking garage for condo residents on the property, and the garage includes spaces dedicated to hotel guests.

During construction, the developer has been offering valet services to hotel guests.

Saltaire sits on its own podium with its residential parking below it. The residents have their own entrance to their parking and the hotel garage is in its own area. The hotel has ownership of its parking facility while the retail and condo functions on the ground floor of the structure remain under Kolter's control.

Kolter has become one of the most active condo developers in the Tampa Bay region. In St. Pete, it's also building the 42-story Art House, where presales are currently open. In Tampa, its active projects are Hyde Park House and a yet-to-be-named downtown tower on North Tampa Street.