Kolter Urban Secures $182M Construction Loan For Art House Condo Tower In St. Petersburg

Development Site located at 200 Central Avenue in Downtown St. Petersburg, known as Art House, has secured a $182 million construction loan from Bank OZK. The project will feature 244 luxury residences, penthouses, ground-level retail, co-working space, a club room, pool, fitness center, and an outdoor dog park. Expected to be completed by late 2024, Art House will stand as one of the tallest buildings in St. Petersburg at 450 feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $182,000,000
• Market: St. Petersburg
• Lender: Bank OZK
• Landlord: Bob Vail - Kolter Urban
• Asset Type: Development Site

Kolter Urban, represented by Bob Vail, has finalized the $182 million construction loan deal with Bank OZK for the Art House project. This significant transaction highlights the collaboration between the developer, lender, and landlord in bringing this luxury condominium tower to life in the heart of Downtown St. Petersburg.