The new owner of the Hilton Bayfront in downtown St. Petersburg wants to demolish the 56-year-old hotel and build two identical 44-story condominium towers in its place.
Delray Beach-based developer Kolter Urban filed applications with the city outlining plans for a 325-unit condo overlooking Tampa Bay.
The project will include 18,000 square feet of commercial space and a 519-space parking garage.
It is estimated to cost around $300 million, according to plans filed with the city.
Kolter’s regional president for Florida’s West Coast, Brian Van Slyke, told the Tampa Bay Times this would be an “ultra luxury” branded condo bearing the name of a hospitality group, though he did not say which.
He did not give a price range but said this project would be on par with the forthcoming Waldorf Astoria Residences planned for downtown St. Pete. The penthouse at that project sold for a record- breaking $27 million.
The company purchased the 15-story hotel at 333 First St. SE for $67.2 million in March.
Van Slyke said if all goes to plan, they will shut down the Hilton by mid-2028 to move forward with demolition and construction.
Kolter also is partnering with Ritz Carlton on a branded condo in Sarasota.
The real estate developer has already built several major condo projects across Tampa Bay, including Saltaire, which was built where the parking lot for the Hilton once stood.
It is preparing to launch sales for another condo project on the site of the former Fit2Run building in downtown St. Pete.
