Downtown St. Pete's definition of luxury condos shifts as the city evolves
In downtown St. Pete, the definition of luxury has grown to include condos far off the waterfront

By Emma Behrmann
Tampa Bay Business Journal
Published: Apr 17, 2026

When Kolter Urban began planning One St. Pete over a decade ago, the luxury condo tower was a bit of a contrarian play, given its location several blocks from Beach Drive. In those days, luxury real estate in downtown St. Petersburg was still largely defined by one thing: the water.

Buyers were drawn to Beach Drive for its unobstructed views, and anything that strayed too far inland had to compete on price. Condos in that area were smaller, buyers were more seasonal, and even a roughly $1.2 million average price point tested the market’s limits.

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