Echelon and Third Lake Capital Top Out 262 Unit 3rd and 3rd Tower in St Petersburg

• Echelon and Third Lake Capital topped out a 33-story mixed-use tower in St Petersburg
• The project will deliver 262 apartments and 15000 square feet of retail
• Completion is expected later this year, with leasing approaching

What Echelon is building in Downtown St Petersburg

Construction has topped out at 3rd and 3rd, a 33-story mixed-use development at 235 3rd Street South in Downtown St Petersburg. The project is led by Echelon in partnership with Third Lake Capital. The tower will deliver 262 residential units along with a 330-space parking garage and 15000 square feet of ground-floor retail. Once complete, it will rank among the tallest buildings in the city. The development sits in a prime downtown location near major retail and residential assets, reinforcing its long-term positioning.

What the scale and construction progress signal

The project has reached its full height of 375 feet, with the concrete structure now complete. Glazing installation is underway on lower floors, and exterior work is progressing steadily. The development required a major foundation pour early in construction, highlighting the scale and complexity of the build. Topping out marks a key milestone as the project moves toward final completion. KAST Construction is serving as the general contractor, with delivery expected to align with late-year occupancy.

What the unit mix and amenities mean for leasing

The residential program includes a range of units from studios to penthouses, allowing the property to target multiple renter segments. Amenities include a pool deck, fitness center, coworking spaces, and entertainment areas. Retail space at the base is being marketed for tenants, adding a revenue stream and enhancing the overall asset. This combination of unit diversity and amenities positions the building to compete with newer high-rise developments in the market.

What this means for St Petersburg multifamily growth

This project reflects continued expansion in Downtown St Petersburg, where developers are delivering larger-scale mixed-use assets. Echelon’s growing pipeline in the area signals strong confidence in long-term demand. As new supply comes online, properties with strong locations and full amenity packages are expected to perform best. 3rd and 3rd add to the city’s evolving skyline and reinforce its appeal as a residential and investment market.