The Metro, an all-studio apartment building, breaks ground in the EDGE District
The Metro, a 100-unit all-studio apartment complex as seen from Baum Avenue
The Metro, a seven-story, 100-unit apartment complex featuring fully furnished studio apartments, broke ground last week in downtown St Pete’s highly walkable and in-demand EDGE District. The $23.9 million development at 1st Avenue North and 11th Street North will cater towards city-dwellers who want to be close to the action downtown, but don’t need an abundance of living space.
Studios at The Metro will start at $1,450 per month and will come furnished with a Murphy bed, sofa, coffee table, a wi-fi enabled TV, and a washer and a dryer. As of now, it will be the only fully furnished apartment community in downtown St. Pete.
The Metro will be located at the corner of 11th Street and 1st Avenue North in St. Pete
St. Pete Rising first reported on The Metro in early 2021 after Michigan-based DevMar Development pivoted from their original plan to build an eleven-story Marriott hotel on the 0.44-acre vacant lot. DevMar cited both the challenge of getting hotel financing due to the COVID-19 pandemic and the opportunity to meet newly increasing demand for studio units and car-free living in this part of the city.
The Metro will be DevMar’s second project in St. Pete. In the second quarter of 2020, construction wrapped on Vantage, an eleven-story 211-unit apartment building, located at 114 16th Street North, which is currently 100% occupied. Next year, Pure Martini Bar will debut on the ground floor of the building.
“We are very excited to have begun construction of The Metro with the same development team that just completed Vantage," said Mark DeMaria. "The Metro is boutique luxury studio apartment community situated right in the center of the EDGE District, and we’re looking forward to offer this unique living experience to St. Pete.”
THe Metro broke ground last week in the EDGE District of downtown St. Pete
Michigan-based Fusco Shaffer & Pappas will serve as the project’s architect and Tampa-based KAST Construction has been hired as the general contractor.
When completed, in addition to the 100 residential units, The Metro will have 754 square feet of retail space on the ground floor, along with a dog park, landscaped patio facing Baum Avenue, and an outdoor pool with cabanas and grills. Residents will also have access to an on-site fitness center, game room, and business center.
The Metro, a 100-unit all-studio apartment complex as seen from 1st Avenue North
Notably, in lieu of traditional parking, there will be covered storage for 102 bikes and an off-site valet lot for residents. For most residents, a car will be unnecessary - St Pete favorites like Bodega, Green Bench Brewing Company, Intermezzo Coffee & Cocktails, Grassroots Kava House, and Ferg’s Sports Bar, to name just a few, are mere blocks away.
Walk Score awards the prime location in the heart of the EDGE District a Walk Score of 85 and Bike Score of 96, noting that most errands can be accomplished on foot and daily errands can be completed on a bike.
DevMar Development closed on the site in January 2020 for $3 million. In early August of this year, a $16.1 million construction loan was secured through Dallas-based HALL Structured Finance.
The Metro, now officially under construction, is expected to be completed in early 2023.