Valor Capital, a Clearwater-based estate development firm, has announced that its latest project will be in downtown St. Petersburg. The proposed mixed-use development will feature luxury condominiums.

The group previously developed The SkyView condominiums at 412 Cleveland Street in downtown Clearwater and is current building Serena by the Sea, an 80-unit project at 1020 Sunset Point Road, also in Clearwater. In late 2022, Valor announced that Serena by the Sea had sold out.

Moises Agami, CEO of Valor Capital, says the development team is, “always on the lookout for up-and-coming areas like St. Petersburg, which offers a thriving atmosphere of opportunities, bursting with arts, culture, and high-tech industry.”

“Valor is driven by purpose. We are committed to helping beautify and elevate our communities by creating visionary developments with meaningful social, economic, and environmental impacts,” says Agami. “We look forward to bringing those lofty goals to fruition with our latest contribution to luxury living at its finest here in the magnificent city of St. Petersburg, Florida.”

The new mixed-use development will be located near the Innovation District and will offer luxury condominiums at two-thirds the cost of comparable developments. Valor Capital states that they can provide the units at a lower cost due to its decades of experience and trusted relationships with supply companies and top European designers. 

Valor Capital owns a half-acre parcel near 4th Street South and 4th Avenue South. The group assembled the parcel for $5.2 million in a series of purchases in 2022.

In addition to the luxury residences, the development will also include a ground floor restaurant and retail space.

Additionally, in a recent interview with Tampa Bay Business & Wealth, Agami stated the development will also have office space.

“St. Pete has this authenticity of still being this small American town but yet it’s also very sophisticated, very colorful and very booming,” Agami told TBBW. “I’m excited to be able to join that community...it will be a new, fresh angle for St. Pete.”

The project will feature health and wellness-focused architectural features similar to Valor's Serena by the Sea development, which was designed by Gomez Vazquez International.

"Our vision is to create world-class real estate developments that benefit homeowners, investors, and the community with holistic designs that are visually striking and harmoniously complement its surroundings,” stated Agami in the release.

Pricing and a construction timeline for the development was not announced.

Stay tuned to St. Pete Rising for future updates.