$70M apartments to break ground in downtown St. Petersburg

St. Petersburg’s next high-end apartment development is imminent.

Coral Gables-based Allen Morris Co. will break ground on the Hermitage, a 348-unit apartment building at 750 First Ave., on Wednesday. The Hermitage will include studio, one- and two-bedroom units. The building will stand eight stories and feature a rooftop pool.

The $70 million project is backed by AIG Global Real Estate, Allen Morris said in a statement. When it was announced in April 2014, construction costs were pegged at $65… …read more