This artistic rendering of St. Pete’s nighttime skyline shows how the 41-story ONE St. Petersburg high-rise will transform the cityscape.


THE 41-STORY ONE ST. PETERSBURG PROJECT WILL HOUSE LUXURY CONDOMINIUMS, A HOTEL AND MULTIPLE RETAIL VENUES.


millions in sales tax, producing many immediate and long-term economic benefits to the city and surrounding area. During construction, construction employment and labor wages will generate over $90 million (primarily for Tampa Bay area businesses); approximately $2.5 million will stem from building and hotel impact fees. Building materials will yield about $3.6 million in sales tax. The mayor of St. Petersburg, Rick Kriseman, says: “Not only will ONE St. Petersburg enhance our thriving downtown, but the jobs and [tax revenue stream] it will create will only increase the financial health of our city.”


Post-construction, the city’s annual property tax revenue stream will swell to over $5.5 million, and also increased hotel bed impact tax earn- ings (upon stabilization) will yield approximately $500,000 each year.


Other key project partners include The Kolter Group (developer), KAST Construction Company (general


contractor), and Unlimited (interior designer).


Brie E. Bennett is a contributing author located in Dallas, Texas.


The Decorators


POWERED BY THE BLUE BOOK NETWORK - ORLANDO & NORTH FLORIDA / SPRING 2016


11


COURTESY OF SB ARCHITECTS


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