Saltaire Condos For Sale
SALTAIRE is Kolter’s latest luxury condo development in downtown St. Petersburg. The developer behind such projects as Water Club Snell Isle and ONE. St. Petersburg, SALTAIRE promises to offer a similar level of upscale finishes, outstanding amenities, and of course stunning water views.
Plans call for a 35-story condominium building containing 194 residences as well as retail on the ground floor. The project is to be located at 300 1st Street South, which is currently being used as a surface parking lot for the Hilton St. Petersburg Bayfront hotel. The Hilton’s parking will be relocated to be behind the SALTAIRE project through a separate parking entrance from SALTAIRE owners.
Currently prices range from the mid $800K’s to over $6.4M for one of the 4 available penthouses. Prices can and will change – typically developers raise prices as time goes on and the best opportunity for the lowest pre-construction pricing is now, at the reservation phase.
Update as of 4/2020:
Saltaire made a Facebook announcement which was posted on April 7th celebrates the groundbreaking by saying, “We are excited to announce that construction at Saltaire has officially commenced!” They also state that the contractors and developers are exercising all of the recommend precautions surrounding COVID-19.
Site prep is underway which includes the drilling of pilot borings and the relocation of utilities. Once site preparations are complete, foundation work will begin. However, it will likely be months before the project begins going vertical. The project is expected to cost roughly $250 million and construction is expected to take 30 months to complete, meaning the building will likely not open until late 2022. Once complete, Saltaire will be the second tallest building in St. Petersburg, FL. We tell our buyers to not expect move-in until 2023 since all buyers cannot move in at the same time – it takes time for the developer to get through all of the closings and schedule move-ins.
As of the writing of this, Kolter is currently offering pre-construction incentives and we are not sure at what point those will disappear. Currently they include a 6% discount and a 2nd parking space ($25,000 value) and 1 year of condo fees paid.
A few features that are different at Saltaire from ONE St. Petersburg include a covered circular driveway entrance, an east facing amenities deck that will offer water views. Most units will have laundry rooms with utility sinks and there will be a 7th floor dog park – which is fantastic news for a city that is ranked one of the most dog friendly in the nation. Another change is that several floor plans offer bathtubs. Overall the floor plans offer more square footage than the comparable units at ONE St Petersburg. Floor plans range from 2 bedrooms to 4 bedrooms + den (penthouse).
As far as reservations – $10,000 is the amount due to reserve a unit. This amount is fully refundable if you should change your mind before the reservations turn to contracts. The balance of 10% will be due at contract signing, and then an additional 10% about 60 days from that point followed by the final 10% for a total of 30% down. Kolter typically offers some time of incentive to prospective purchasers to go from reservation to contracts, as they have done in the past, but currently we do not know if or what that might be. We will update this page once we know more.
Condo association fees have also not yet been released as of the writing of this post – but we will update once we know more.
We wrote recently about how ONE St. Petersburg condos have increased significantly in price from the time of pre-sales and we expect we’ll see a similar situation at SALTAIRE.