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Demand rising for Pinellas condo towers

Demand rising for Pinellas condo towers

ST. PETERSBURG, Fla. (TBO.com) - From the ninth-floor balcony of this new condominium north of downtown, the whole expanse of the city’s waterfront comes into view.

A few miles south are a crop of mid- to high-rise office buildings, condos and apartments, several of them new to the St. Petersburg skyline, with the Sunshine Skyway far off in the background.

Looking north there’s only water and the faint outline of Tampa in the distance.

All of the luxury units in the soon-to-be-finished Water Club at Snell Isle face the water. Real estate executive Dave Traynor tells prospective buyers they will have an ideal vantage point for spotting manatees and dolphins and, as he speaks, a gray fin breaches the greenish water below.

It’s a $1 million view – actually, the 84 well-appointed units with granite counter tops, jet bathtubs and a private elevator start at a half-million – and selling fast.

The twin nine-story towers on Snell Isle Boulevard N.E. is 50 percent sold and the buyers aren’t getting the hard bargains many new condominiums saw a few years ago in the wake of recession.

“Now seems to be the time that condominiums make sense because the price per square foot is where people need it to be in order to build and still make a profit,” said Traynor, vice president of real estate and developer services at Smith & Associates Real Estate.

Photo Credit 970 WFLA/C. Dylan

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