{"id":79862,"date":"2025-12-11T22:24:10","date_gmt":"2025-12-11T22:24:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/79862\/"},"modified":"2025-12-11T22:24:10","modified_gmt":"2025-12-11T22:24:10","slug":"demolition-sets-stage-for-125-million-st-pete-tower","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/79862\/","title":{"rendered":"Demolition sets stage for $125 million St. Pete tower"},"content":{"rendered":"

The development team behind a long-planned, 23-story mixed-use tower near Tropicana Field is just days away from demolishing a warehouse at the site.<\/p>\n

Gallery Haus, first unveiled in January 2024, is a $125 million project at 155 17th St. S. Miami-based commercial real estate investment firms LD&D<\/a> and Black Salmon<\/a>, with LD&D\u2019s partner IGEQ<\/a> also participating in the venture, acquired\u00a0the .77-acre parcel abutting the Pinellas Trail for $9.05 million in December 2023.<\/p>\n

Diego Bonet, managing partner of LD&D, said demolishing the former Teknia Logistics warehouse would take a \u201cfew months, due to how it\u2019s connected with the adjacent neighbors.\u201d Those include Vertical Ventures, a popular climbing gym, and The Lock Up Self Storage.<\/p>\n

\u201cIt has been a long time in the making,\u201d Bonet said of Gallery Haus. \u201cSo, we\u2019re very excited about the project reaching this milestone.\u201d<\/p>\n

The previous owners<\/a>, St. Petersburg\u2019s Apogee Real Estate Partners, received city approval to build a 23-story tower on the property before the firm\u2019s leadership decided to wind down operations and liquidate assets. Bonet previously told the Catalyst that his group spent nearly a year discerning project details<\/a> after purchasing the property.<\/p>\n

Gallery Haus will feature 254 residences and over 10,000 square feet of amenities and coworking space. \u201cWe did increase the amount of retail facing the Pinellas Trail a little bit,\u201d Bonet said.<\/p>\n

A state-of-the-art wellness and fitness facility will also now face the Pinellas Trail, a focal point for the project. The lobby will feature a coffee shop.<\/p>\n

\u201cWe love the location,\u201d Bonet said. \u201cWe love the fact that it\u2019s at the intersection of three different neighborhoods.\u201d<\/p>\n

The Warehouse Arts, EDGE and Grand Central Districts are easily accessible from Gallery Haus. Tropicana Field\u2019s Lot 4 sits just across 17th Street South from the development, and \u201cthat is pretty unique,\u201d Bonet said.<\/p>\n

That area to the east will eventually become the Historic Gas Plant District. Bonet saw immense potential in the site before he realized a $6.5 billion redevelopment project, led by the Tampa Bay Rays, would take shape across the street.<\/p>\n

While the Rays exited long-negotiated plans in March, city officials are now considering a $6.8 billion proposal from ARK Investment Management, Ellison Development and Horus Construction. \u201cWe thought that would be a cherry on top,\u201d Bonet said of the redevelopment.<\/p>\n

\u201cWe made sure we liked this deal, even if that didn\u2019t move forward, because it was uncertain at the time,\u201d he added. \u201cYou cannot get an 84-acre lot in the heart of a major, fast-growing city, like St. Pete \u2026 So, something will happen with that.\u201d<\/p>\n

Bonet said his group is excited to see the new proposals<\/a> and believes their development will \u201cplay a very important role in connecting the Gas Plant and Warehouse Arts District. \u201cWe think this will be in a strategic location long-term.\u201d<\/p>\n

The development team released their final plans for Gallery Haus in November 2024. Bonet called its aesthetic \u201ca lot more industrial in nature, and a little bit more arts-focused.\u201d<\/p>\n

LD&D and Black Salmon built the visually similar Wynwood Haus, named after the Miami neighborhood known for its creative community. Gallery Haus will feature an indoor-outdoor wellness deck with a pool, sauna and cold plunge tanks atop a five-story parking garage.<\/p>\n

\"\"<\/p>\n

Gallery Haus features over 10,000 square feet of amenity and co-working space.<\/p>\n

The 23rd floor will feature a tenant lounge and coworking space with views of the downtown skyline and Tampa Bay. A coffee shop will connect the lobby with 17th Street, and the remaining commercial space will help activate the Pinellas Trail.<\/p>\n

Bonet noted the location \u201cfeels a little bit more residential\u201d than some neighboring projects or living above Central Avenue. He also believes the trail is \u201csuch a unique amenity\u201d that is rarely found in other cities, \u201cif any.\u201d<\/p>\n

\u201cHaving that directly underneath the building, we think, is a complete game-changer,\u201d Bonet said. \u201cWe definitely want to emphasize it.\u201d<\/p>\n

While a softening multifamily housing market is \u201ca fact,\u201d the development team remains bullish on its investment. Recently built inventory is \u201cin the process of getting absorbed,\u201d Bonet said, and there is \u201ca much smaller amount\u201d of new projects on the horizon.<\/p>\n

He believes the timing will ensure Gallery Haus is \u201cahead of the curve a little bit.\u201d The development team is \u201clooking at this as a 10-year hold.\u201d<\/p>\n

\u201cWe love St. Pete,\u201d Bonet said. \u201cWe think it\u2019s going to continue seeing very robust population and economic growth. And not just St. Pete, but the overall Tampa Bay area. So, we\u2019re not worried about what\u2019s happening in the short term.\u201d<\/p>\n

Vertical construction should begin by early summer of 2026. \u201cFrom there it will be about a 20-month build,\u201d Bonet said.<\/p>\n

\"\"<\/p>\n

Camilo Lopez, managing partner of Black Salmon, said in a prepared statement that \u201cGallery Haus reflects our confidence in the market\u2019s trajectory.\u201d<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

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