With demand sturdy and land at a premium in Downtown St. Pete, actual property builders are more and more turning to small parcels of land for big-scale tasks. Most just lately, The Bezu, which was introduced final week at 100 Fourth Avenue North, is a proposed 24-story luxurious condominium constructing at the positioning of the beforehand proposed Brownstones townhome undertaking. That undertaking, which was delayed for numerous causes, proposed 4 giant townhome models paying homage to New York Metropolis’s brownstones. This new tower proposal is far denser in land use and includes a modern, fashionable constructing with 24 residences.
The Bezu, which is a play on the French phrase “bisou” that means kiss, guarantees to be an intimate boutique rental tower with 5 flooring of parking topped by seven flooring containing two rental models every and 9 flooring that includes one rental unit every. The high three flooring will characteristic a single penthouse unit with a personal rooftop infinity pool.
Architectonics designed the constructing whereas Huda Ben-Ghuzzi designed the interiors. “Know-how merges with nature like two individuals partaking in a kiss… delicate and easy, but highly effective and electrical,” says Ben-Ghuzzi about her thought course of when designing the interiors. With options corresponding to constructed-in espresso machines and textured accent partitions, the residences have a uniquely fashionable European really feel.
Arclight Growth Group is spearheading the event and is partnering with Benoot Realty, which is predicated on Seashore Drive, to deal with the gross sales. Because the undertaking’s announcement, curiosity for Bezu’s 24 models has been excessive with actual property agent Matthieu Benoot saying, “The Bezu Condos are going to be a step up from something now we have obtainable in lovely Downtown St. Petersburg. We have now an unimaginable group that basically is specializing in the main points of the undertaking. That is actually what is going on to set The Bezu aside -- the main points, designs, and the standard of the supplies.”
The group is hoping for completion within the second quarter of 2019, however earlier than building can start, the undertaking will want to promote round 70% of the models. Given the excessive demand for brand new building in Downtown St. Pete, that won't take lengthy. A neighboring, just lately accomplished rental tower, Bliss, bought out almost 6 months prior to its completion in early 2017.
And Bliss isn’t an outlier; condominium gross sales in most of Downtown St. Pete’s latest residential buildings have remained sturdy. With restricted provide and overwhelming curiosity, a couple of different tasks have additionally reached gross sales milestones. The Salvador, a 13-story constructing at 199 Dali Boulevard, officially sold out after reaching completion earlier this yr; whereas ONE St. Petersburg, the 41-story tower at present beneath building at 100 First Avenue North announced it was 85% sold, greater than a yr earlier than its anticipated completion.
Pricing for the models at The Bezu are anticipated to start within the $600,000s and go properly previous $2 million. To join extra data on Bezu, visit their website.