The Real Deal Miami

Coral Gables firm starts loft apartment project in St. Pete

Atlis Cardinal is converting a vacant office building to a residential rental property in the city's Kenwood area
October 15, 2017 02:00PM

Atlis Cardinal principals Alberto J. Suarez (fourth from left) and Frank Guerra (fifth from left) participate in a groundbreaking ceremony for Prism on Fifth in St. Petersburg.

Coral Gables-based Altis Cardinal started converting a vacant six-story office building in St. Petersburg into a residential building with 78 loft-style apartments called Prism on Fifth.

The project is the latest phase of Atlis Cardinal’s master-planned development of 10 acres in St. Petersburg’s Kenwood neighborhood.

The 10-acre development includes a 178-unit residential building called Skyline Fifth, which is fully occupied.

Atlis Cardinal plans to spend $80 million to turn the land into a 10-acre residential campus with a total of 432 units.

The planned construction of 78 loft-style apartments with 11-foot ceilings will provide “a modern loft product that does not exist in the market,” Frank Guerra, founder and principal of Atlis Cardinal, said in a prepared statement.

Since Guerra and Alberto J. Suarez founded Atlis Cardinal in 2009, the Coral Gables-based company has built and renovated apartments, offices and retail space in such cities as Miami, Palm Beach and St. Petersburg as well as Reno, Nevada, and Houston, Texas.