EDGE District hotel is dead, but a new proposal has emerged
/Back in October 2018, St. Pete Rising broke the news about an 11-story Marriott Tribute hotel that was to be built in the EDGE District at the corner of 11th Street and 1st Avenue North. The 135-key hotel was proposed by Michigan-based DevMar Development, whose first residential project in St. Pete, Vantage, began move-in’s in May 2020.
DevMar Development closed on the hotel site in January 2020 for $3 million. But unfortunately, due to COVID-19, hotel financing has all but dried up. As a result, DevMar has scrapped plans for the boutique hotel.
Plans have been cancelled for an 11-story Marriott Tribute hotel that was to be built in the EDGE District
So, if a hotel is out of the question, what will be built on the 0.44-acre lot in one of downtown St. Pete’s hottest neighborhoods? In trying to answer this question, Mark DeMaria, CEO of DevMar Development, noticed an interesting trend during the lease-up of Vantage – there has been a huge demand for the studio units.
And if you think about it, that should make sense. If someone wants to live in or close to downtown St. Pete, but is more price-conscious, they have two options – rent a larger apartment on the outskirts of downtown or a smaller one in the center of the action. Most people would be willing to sacrifice space for an outstanding location.
the METRO, a 100-unit, 7-story apartment building. Amenities include a first-floor pool with an outdoor kitchen and a landscaped patio that fronts Baum Avenue
DeMaria also noticed the growing number of residents in St. Pete who are going car-free. Today, downtown St. Pete is one of the most walkable urban areas in Florida. If you live and work downtown, you’d have little reason to own a car.
And so, DevMar Development is excited to announce the METRO, a 100-unit, 7-story apartment building that will be constructed on the former hotel site in the EDGE District.
DevMar still retains the Marriott Tribute franchise for St. Pete and are in continued discussions with Marriott to brand the apartments at METRO with the Marriott Living Brand.
The METRO will have 754 square feet of ground level retail fronting 1st Avenue North
This project is revolutionary for St. Pete for a number of reasons. First, all 100 units will be fully furnished studios. Although the units at the METRO will be leased at market rate, the rent is expected to be less than other downtown communities due to the smaller unit size.
Additionally, the building will have no on-site parking, and will instead utilize an off-site valet lot for residents. However, there will be long-term covered storage for 102 bikes.
“We are extremely excited to deliver this project, as we see the units we are providing as the most demanded in the downtown/EDGE District,” says DeMaria. “It will be the only offering of its kind in all of St. Pete.”
The amenities at the METRO will include a first-floor pool with an outdoor kitchen and a landscaped patio that fronts Baum Avenue, a fitness center, a recreation lounge, and a business center.
The project will also have 754 square feet of ground level retail fronting 1st Avenue North.
The announcement of DevMar’s upcoming apartment development comes a week after St. Pete Rising exclusively reported on a proposed 256-unit, 15-story apartment building to be constructed adjacent to the METRO at 1000 1st Avenue North.
The METRO will go before City Council’s Community Redevelopment Agency in March to ensure the project’s proposed use and design is consistent with the Intown West Redevelopment Plan.
A groundbreaking is expected in April with a completion in Summer 2022.
