Kolter bought the Hilton Bayfront earlier this year for $96 million, after completing Saltaire on the hotel’s former parking lot in 2023. The company had previously said it intended to eventually redevelop the 1970s-era hotel with a taller residential project but had not released a height, unit count, or design.
The two-tower project would add to Kolter’s growing downtown St. Petersburg portfolio. The company completed ONE St. Petersburg in 2019, a 41-story tower with 253 condominiums and a Hyatt Place hotel; Saltaire in 2023, with 192 condominiums; and Art House earlier this year, a 42-story tower with 244 condominiums.
Kolter also has approval for a 21-story, 62-unit condominium tower at the former Fit2Run site along 2nd Street North, across from Sundial.
Outside the city, Kolter is also planning Water Club St. Pete Beach, a waterfront condominium project at the eastern end of Corey Avenue. The latest plans call for 129 condominiums in two eight-story buildings, along with retail and restaurant space, a public park, a marina, and waterfront access.
The new downtown St. Pete project would have more residences than any of the city’s completed condominium towers, including the 301-unit Residences at 400 Central. The 50-story Waldorf Astoria Residences will have 163 condominiums, along with office and retail space.
No project name, unit pricing, construction timeline, or hotel closure date has been announced.