Construction begins on Reflection, an 18-story condo tower, on 8th Street in St. Pete
/Construction has begun on an 18-story condominium tower, Reflection, near Mirror Lake in downtown St. Petersburg.
The 88-unit building is being developed by a team led by the principals of HP Capital - Fred Hemmer, Angelo Cappelli, and Nick Hansen at the northeast corner of 3rd Avenue North and 8th Street.
Reflection will offer views of Mirror Lake and the downtown St. Pete skyline
"As a lifelong resident I can't be more excited and prouder of what the downtown area of St Petersburg has become. It is a jewel, and we are very excited about developing Reflection that will complement other new projects in the area," says Hemmer.
The group closed on the 0.70-acre site for $4.95 million and simultaneously closed on a $73.4 million construction loan by ACRES Capital Corp.
"St. Petersburg is one of the fastest growing regions in Florida and has been called the 'megamarket of the South,'" said ACRES Chief Executive Officer and President Mark Fogel. "We expect the city's tremendous growth to continue long-term, boding well for high-end residential projects like this.
Construction crews on site at Reflection in downtown St. Pete | St Pete Rising
The land sale was brokered by KW Commercial’s Jon Wittner and Jake Wollman who represented BridgePoint Church, the Seller, and Jon Reno LaBudde, who represented the HP Capital.
KW Developer Services, which was founded by Wittner, also consulted on the project. KW Developer Services is a collaboration between a group of KW Commercial and Keller Williams Luxury agents.
“This project has been a labor of love from our initial dreams of developing a new, Class A Condo sub-market at Mirror Lake, to dealing with launching in the middle of a pandemic with all the issues that have gone with it,” says Jon Wittner. “Despite incredible increases in construction pricing, the white-hot Downtown St. Petersburg condo market has overcome all obstacles. Our unique water view over Mirror Lake with the backdrop of the St. Pete skyline and the bay is hard to beat."
The 18th floor will feature a massive 12,000 square foot rooftop oasis with a resort style pool, sauna, and spa
Reflection will reach a height of 200 feet and will feature 2,800 square feet of ground floor commercial space. Sales for Reflection have been strong with over 60% of the units under contract totaling over $53 million. Remaining units start in the $900,000’s and rise to $2.5 million.
The sales team, which consists of Rachael Manzanares, Michelle Menke Fife, and Amber Bennett of KW, credits a cutting-edge technology for some of the sales success. The technology, called Imerza, specializes in creating high quality virtual reality experiences that allows prospective buyers to visualize and learn about the units for sale.
Reflection will be located at 3rd Avenue North and 8th Street
The base of the building will consist of six floors. The first floor will consist of a residential lobby, retail space, and the entrance to the parking garage. The second through sixth floor will be dedicated towards parking. The residential tower will occupy floors seven through 17.
Each of the units at Reflection will feature dramatic floor-to-ceiling windows, modern kitchens, terrace-style balconies, and state-of-the-art stainless steel appliances.
An 18th floor will feature a massive 12,000 square foot rooftop oasis with a resort style pool, sauna, and spa. The community will also have a state-of-the-art fitness center, club room, an outdoor kitchen, and views of the downtown St. Pete skyline.
Unit interiors feature modern appointments and floor to ceiling windows
The building’s rooftop gives it a competitive advantage over other condo towers that feature amenity decks on lower floors. “Reflection is where everyone has a penthouse view,” says Hansen about the building’s amenity deck.
KAST Construction is serving as the general contractor for the project and has begun mobilizing on site. Construction on Reflection is expected to be complete in late 2023.
Reflection will be one of the few condo buildings in downtown St. Pete with a rooftop pool and amenity deck
In the meantime, the HP Capital team is already hard at work on their next projects. The group recently won approval on a 264-unit affordable housing development on Fairfield Avenue at 31st Street and is also working on a 19-story apartment building planned for 1st Avenue North.
For more information on Reflection, visit their website or call 727-655-9100.
