$43M redevelopment of downtown St. Pete's Fit2Run faces critical vote
By Breanne Williams
Tampa Bay Business Journal
Published: Apr 3, 2023

The redevelopment of downtown St. Petersburg's Fit2Run into a 14-story hotel faces a critical vote this week.

The Development Review Commission on April 5 will vote on whether to approve Kolter Group’s site plan for a 14-story Tempo by Hilton hotel at 232 and 256 Second St. N. According to city documents, the $43 million project will have 192 hotel rooms and a 127-space parking garage. The hotel flag will be a first for Tampa Bay. The site is currently home to the retailer Fit2Run and a parking lot.

The garage entrance will be accessed from Third Avenue N. The ground floor will feature the lobby, back-of-house facilities, and two entrances to the garage and ground-level parking spaces, according to city documents. Parking will be from the second to fourth floors and the fifth floor will feature hotel amenity space. The hotel rooms will run from the sixth to 13th floors, and the 14th floor will be hotel amenity space.

Kolter purchased the properties in 2021 for a combined $7.5 million. Scott Webb, president of Kolter Hospitality, previously told the Tampa Bay Business Journal Kolter hoped to demolish the existing building and begin construction on the hotel by late 2023 or early 2024. Construction for the project is estimated to take 18 to 20 months.

The hotel will have a rooftop bar and pool. The development will be a block away from Sundial and 0.3 miles from North Straub Park and the St. Pete Pier.

Kolter Hospitality is also behind the Hyatt Place in downtown St. Pete. Webb said Kolter has “a lot of faith” in Florida's West Coast. Kolter Urban, the developer's luxury condominium arm, is also behind ONE St. Petersburg, Saltaire and Art House luxury condominiums.

Orlando-based L2 Studios Inc. is the architect for the project. Kolter is working with Hilton on interior designs for the hotel.