Greek billionaire John Catsimatidis landed approval for what could become the tallest condo tower on the west coast of Florida.
Catsimatidis’ Red Apple Group received site plan approval from the St. Petersburg’s Development Review Commission on Wednesday for a $300 million mixed-use project, the Tampa Bay Times reported. The project would include a 45-story condo building, 20-story hotel, roughly 20,000 square feet of office space, and an over 800-space parking garage. Miami-based Arquitectonica is the architect.
Construction could begin in the spring, although Red Apple has to meet conditions set by the city. The project is over two years in the making, Red Apple’s attorney said, according to the Tampa Bay Times.
The developer will need approval from the Federal Aviation Administration for a 515-foot tower. It would surpass the tallest building in the city, ONE St. Petersburg.
Catsimatidis’ company paid $16.5 million for the development site two years ago.