The Tampa Bay Rays’ future in St. Petersburg is uncertain, but John Catsimatidis is looking forward to his next investment in the city.
Catsimatidis’ Red Apple recently purchased a 0.94-acre site downtown, the Tampa Bay Business Journal reported. It’s entitled for a 23-story tower, which will add to Red Apple’s expanding footprint in St. Petersburg.
In the same interview, he distanced himself from Rays ownership rumors, saying he hasn’t been contacted about purchasing a stake in “at least 60 days.”
“If they sell it to me for the same price they bought it for 20 years ago, I’ll write a check tomorrow,” he told the outlet.
Red Apple is the developer behind the tallest residential tower on Florida’s West Coast, The Residences at 400 Central in downtown St. Petersburg. The 46-story condo tower, which rises 515 feet, includes 300 units and 60,000 square feet of ground-floor retail. The building’s 45,000 square feet of office space has been leased to an unnamed tenant.
Buyers at 400 Central will begin closing on their units in September.
Construction on the project was delayed after last year’s hurricanes knocked a crane at 400 Central into an office building. Catsimatidis said he evacuated one-and-a-half blocks due to the crash and no one died or was injured.
The hurricane hit so fast that there wasn’t enough time to take down the crane, he said.
In his interview with the outlet, he also weighed in on his next project near Mirror Lake. He and his team are discussing whether to build apartments or condos at the site; he leans toward condos.
He confirmed Red Apple will remain focused on St. Petersburg, with no immediate plans to expand elsewhere in Florida.
— Andrew Terrell
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