St. Petersburg condos thrive amid economic turmoil [Tampa Bay Florida]
Its recent record of bankruptcies, broken contracts and busted lenders aside, the Tampa Bay area’s condo tower market still has a pulse on the St. Petersburg waterfront.
As all-but-dead projects like Trump Tower Tampa hold off creditors in bankruptcy court, Ovation in downtown St. Petersburg will spend the week pouring concrete for its final — 27th — floor at Beach Drive and Second Avenue NE.
The $85-million building offers 45 units ranging from about $1.2-million to $4.4-million. Despite the high prices, two-thirds have sold.
“Amazingly, September was an excellent month. We had three new sales,” said Mike Cheezem, president of JMC Communities, the project’s builder/developer.