Developer behind St. Petersburg’s tallest building plans new Mirror Lake tower
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The Red Apple Group is gearing up to build a new 23-story tower in St. Petersburg's Mirror Lake neighborhood, following its successful development of the tallest building in the city, 400 Central. City officials had initially approved plans for a similar mixed-use project at the same site, but the construction had stalled, raising questions about the future of the area. John Catsimatidis Sr. , the founder of Red Apple Group, has consistently emphasized the importance of continued development in St.
Petersburg, and recent confirmations from Kevin King have reignited interest in the project. The property was previously owned by Hyperscale Data, a bitcoin mining firm that acquired it for $15. 5 million in January 2022. Hyperscale had received approval for a 23-story building that would include 285 housing units and commercial space before announcing its decision to sell the site. The new development is expected to enhance the downtown landscape, contributing to the local economy and community.
With its prime location across from the historic Mirror Lake Community Library, the project promises not only to revitalize the area but also to attract residents and businesses alike. As developments unfold, the anticipation surrounding this project reflects the ongoing transformation of St. Petersburg into a modern urban hub.