Salt Palm Development Launches Second Project in Downtown St. Pete
/Salt Palm Development recently announced its latest project, The Royal, which is proposed for 545 4th Avenue South.
When Salt Palm Development was created in 2015 they wanted to be a different type of real estate development company. Based in St. Petersburg, FL, Salt Palm was declared Florida’s first real estate development Certified B Corp in 2018, meaning the company formally committed itself to having a purpose greater than just maximizing profits.
Along with being a Certified B Corp, Salt Palm is also a member of 1% for the Planet, St. Pete for Good, and is affiliated with the Florida Chapter of Conscious Capitalism. In 2019 the Company won a Sustainable Business award from The Sustany Foundation and a Conscious Business Leader award from Conscious Company Media. And in 2018 the Company was the title sponsor of St. Pete’s SHINE Mural Festival.
The Royal will be located directly across the street from Salt Palm’s first multifamily project: The Sabal.
Salt Palm’s first multi-unit development, The Sabal, began in 2018 and was completed earlier this year. The development consisted of two four-story buildings — each containing four units. With the completion of The Sabal, Salt Palm is ready to embark on its next project: The Royal.
"We are excited to kick off yet another successful project in the vibrant community of St. Pete. As a Certified B Corp and member of 1% For The Planet, the community and local environment are the main reasons we operate the way we do – investing time and money to enhance the place our future residents will call home.” says Jared Meyers, Co-founder and Chairman of Salt Palm Development.
The Royal will be located at 545 4th Avenue South, directly across the street from The Sabal. With 13 units, residences at The Royal will range between 1,800 and 3,100 square feet with prices staring in the $500’s and up to $1.2 million.
The interiors of The Royal feature custom floating glass staircases and modern finishes.
In fitting with Salt Palm’s mission to sustainability, Meyers says, “The Royal will be a gorgeous addition to the neighborhood with sleek, architectural lines, floor to ceiling window frontage and a highly sustainable footprint from things like our smart home tech, solar-ready energy hookups, native landscaping and more.”
Units at The Royal will feature commercial-grade windows, rooftop decks, private garages, and custom floating glass staircases. The architecture of The Royal is more modern than The Sabal, with larger windows with reflective glazing and wood-like accents. Demolition of the existing building on the site is expected in November and the project is expected to be completed in Spring 2021.
The Gaslamps is a two-unit townhome development proposed for 306 6th Street South.
The Royal is just the latest boutique townhome development that has been proposed for the southern side of Downtown St. Pete. Less than two blocks away, The Gaslamps, a two-unit project being developed by Canopy Builders, is also underway.
Once complete, The Gaslamps and The Royal will join other projects like the St. James Townhomes, an 8-unit project under construction at 3rd Avenue S and 8th Street S, in adding to Downtown St. Pete’s townhome supply.
For more information about units at The Royal, visit theroyalstpete.com.
