Mayor Ken Welch toured a building Wednesday that he said symbolizes St. Petersburg’s evolution into a city with the nation’s “most vibrant downtown.”
Welch was referring to the 46-story Residences at 400 Central, St. Petersburg’s tallest tower. The city has granted the Red Apple Group a temporary certificate of occupancy for the building’s first 25 floors, and the development firm expects to begin welcoming residents by the end of the year.
John Catsimatidis Sr., founder of New York-based Red Apple Group, led attendees to his penthouse, nearly 515 above Tampa Bay. The mixed-use development occupies a city block and features 301 luxury condominiums, 60,000 square feet of street-level commercial space, 45,000 square feet of Class A office space and a 46th-floor Sky Observatory.
“This is a transformative project for our city,” Welch said. “We have the most dynamic, walkable and vibrant downtown in all of America, and that secret is out.”
Construction on 400 Central, an over $400 million project, commenced in October 2022. Catsimatidis thanked city officials for their assistance in building “the most iconic” tower in St. Petersburg.
He believes the development will foster additional investments in the city. Catsimatidis noted that Red Apple is developing a 23-story tower along Mirror Lake, about four blocks away, and will open a regional office in St. Petersburg.
Roughly 50 residences at 400 Central remain unsold. Catsimatidis told the Catalyst that he never doubted the project’s success.
“I wanted to build an iconic building that would be the cornerstone of St. Petersburg’s growth,” Catsimatidis said. “And I think we accomplished that.”
Hurricanes Helene and Milton caused some slight delays. The project made headlines when a sizable section of a 500-foot tower crane flew into a neighboring building during the latter storm’s 100 mph gusts.
However, the tour was decidedly celebratory. Welch told Catsimatidis, who will spend more time in St. Petersburg than in New York City once the top floors pass city inspections, that “we are so happy to have you here.”
“We’re so appreciative of you believing in us and investing in us,” Welch continued. “To you and the Red Apple Group, thank you so much.”
Catsimatidis said his wife’s parents began urging him to invest in the city when they moved to the area in 1981. He admittedly would have “made a ton of money” had he heeded their advice.
Welch said the city planned to increase downtown’s density for decades, “and the infrastructure is here to support that.” He added that the city must improve its infrastructure due to its age and increasing environmental threats, “not because of growth.”
The mayor also explained that his “housing opportunities for all” mantra includes market-rate projects, which, unlike those that serve low-income residents, do not receive public funding. “You definitely need the economic push that this kind of development brings – the jobs and office and retail (space).”
Catsimatidis recently requested – and received – additional time to submit a redevelopment proposal for the Historic Gas Plant District, currently home to Tropicana Field. Welch will now open the 30-day window Jan. 4.
While noncommittal, Catsimatidis said he remains interested in the generational project. What is certain is that he plans to increase his “investment in St. Pete, overall.”
That includes supporting local underserved children. Before the tour, Catsimatidis presented St. Petersburg Police Chief Anthony Holloway with a check for the Police Athletic League (PAL), which provides a safe and affordable place for out-of-school youth.
Catsimatidis has supported the city’s PAL affiliate for three consecutive years. “This is my community, too,” he said.
“Whatever you need from us – we’re dedicated to St. Pete,” Catsimatidis added. “We want to be here, and we want to help.”
This content provided in partnership with StPeteCatalyst.com
