The Nolen, a 23-story condo tower planned for downtown St. Pete, moves toward groundbreaking
/The Nolen is a boutique condominium building being developed by DDA Development and will feature 31 residences.
The Nolen, a 23-story condominium tower approved for 146 4th Avenue Northeast in downtown St. Pete, has taken several major steps toward an anticipated groundbreaking.
The boutique condominium building will feature 31 residences and will be 288 feet tall. The project is being spearheaded by Tampa-based DDA Development, which is led by Bowen Arnold and John Schilling. The company recently announced that they have secured construction financing and that the building is nearly 50% sold.
“The sales pace has exceeded expectations, which allows for The Nolen to move ahead of schedule and towards construction," said DDA Principal Bowen Arnold.
In late December, the team closed on a $36 million loan from Truist Bank and purchased the property in a $7 million deal. Building permits are expected to be filed this month and construction is slated to begin in the second quarter of 2022.
THE NOLEN WILL BE LOCATED JUST ONE BLOCK OFF OF BEACH DRIVE AT 126 4TH AVE NE.
“The Nolen has shown there is high demand for downtown living without sacrificing privacy,” said David Moyer, Director of Sales, Developer Services at Smith & Associates Real Estate, the exclusive broker for the project. “The fact that there are only 31 residences, each with private entry foyers and no shared interior walls, it makes it unique from other new construction offerings.”
In addition to residential units, the base of The Nolen will feature a three-story parking structure along with a residential lobby and 1,260 square feet of ground-floor retail space. In total there will be 63 parking spaces and 33 long-term bicycle spaces in the building. Ingress and egress of the parking garage will be off Rowland Court, a private street.
Prior to groundbreaking, a historic structure known as the Bay Gables house will be relocated from the site to a lot in Historic Uptown. The Bay Gables house is a 1910-built Vernacular home that features both Colonial and Queen Anne architectural elements. It is operated as the Watergarden Inn at the Bay, a bed & breakfast, and was designated a historic structure in 1994.
In addition to residential units, the base of The Nolen will feature a three-story parking structure along with a residential lobby and 1,260 square feet of ground-floor retail space.
Once construction begins, The Nolen will take approximately 18 to 20 months to complete with an expected opening in early 2024.
DDA Development is also developing Orange Station at the Edge, a mixed-use development planned for 1301 1st Avenue North, and Sixty90, an apartment building planned for 6090 Central Avenue.
In addition to DDA, Craig Sher and Will Conroy of Backstreets Capital are also partnering on The Nolen. Tim Clemmons of PLACE Architecture designed the building while Melissa Kelly Design Studio designed the interiors. Amber Brinkley at Kippen Communications is handling public relations for the project and Clear ph is responsible for the website and branding.
