St. Petersburg's skyline has reached new heights with the opening of The Residences at 400 Central, now officially the tallest residential tower on Florida's Gulf Coast. After more than four years of construction, developer Red Apple Group has secured the certificate of occupancy for the first 25 floors of the 46-story tower, which stands 515 feet tall. The first residents are expected to move in by the end of December, marking a significant milestone in the city's ongoing urban development.
The luxury condominium tower features 301 units with pricing ranging from approximately $1 million to nearly $7 million for penthouse units. Despite the premium pricing, the development has proven highly successful with only about 50 units remaining available for purchase. The building represents a new standard of luxury living in St. Petersburg, offering residents unprecedented views of the city and Tampa Bay from their high-rise homes.
During a property tour on Wednesday, St. Petersburg Mayor Ken Welch praised the development as an iconic addition to the city's evolving landscape. "It symbolizes the evolution of St. Petersburg," Welch stated. "This is not my grandfather's St. Petersburg." The mayor's comments reflect the dramatic transformation the city has undergone in recent years, transitioning from a quiet retirement community to a vibrant urban center attracting young professionals and luxury residents.
The tower offers extensive amenities designed to provide a resort-like living experience for residents. The seventh floor serves as a dedicated amenity deck, featuring both indoor and outdoor recreational spaces. Indoor facilities include a state-of-the-art fitness center, a private theater room, and flexible meeting spaces for residents' business or social needs. The outdoor amenity deck boasts a swimming pool with an adjacent jacuzzi, private cabanas for lounging, a fire pit area perfect for evening gatherings, professional grilling stations, a full-service bar, a designated dog park for pet owners, and even a putting green for golf enthusiasts.
The crown jewel of the building is the 46th-floor observation lounge, accessible to all residents through a glass elevator that offers stunning views during the ascent. Red Apple CEO John Catsimatidis personally invested significant resources in this top-floor amenity, explaining his motivation: "My own people yelled at me - why are you spending another $5 million on the upper floor? Because I want to go and look at the stars at three in the morning." Catsimatidis and his wife have purchased one of the penthouse units and plan to split their time between New York and St. Petersburg starting next year.
Security and concierge services are integral to the luxury experience at 400 Central. The building maintains 24/7 security presence in the lobby, ensuring residents' safety and privacy around the clock. Additionally, residents have access to a dedicated lifestyle coordinator who assists with restaurant reservations, local recommendations, and various personal services, effectively serving as a concierge for the building's affluent residents.
The development extends beyond residential use, incorporating significant commercial and office space. Dynasty Financial Partners has committed to making 400 Central their new headquarters, signing a 15-year lease for more than 44,000 square feet of office space in June. The financial services company is expected to complete their move by November 2026, bringing hundreds of high-paying jobs to the downtown area.
The ground level features 60,000 square feet of retail space, designed to create an active streetscape and serve both residents and the broader community. The retail plan includes space for two restaurants positioned on either side of the building, creating dining options that will activate the street level. A new wine bar called Volta and a PNC Bank branch are confirmed tenants, with additional retailers to be announced in the coming months. This mixed-use approach ensures the building contributes to the vibrancy of downtown St. Petersburg rather than creating an isolated residential tower.
Developer Catsimatidis has expressed strong confidence in St. Petersburg's continued growth and his company's role in shaping it. Red Apple Group has already secured a site near Mirror Lake for potential future development, though specific plans have not been announced. Previous site plans approved for the location would allow for a building as tall as 23 stories. Catsimatidis has also indicated interest in the ambitious redevelopment of the 86-acre Gas Plant district, where Tropicana Field currently stands, suggesting his company may play a role in one of the city's most significant upcoming development projects.
The success of 400 Central reflects broader demographic and economic trends affecting Florida. "I think we're gonna have more people coming down to Florida than ever before and it comes down to quality of life," Catsimatidis observed. "I'm glad I finally made an investment here." This sentiment captures the ongoing migration patterns that have made Florida one of the fastest-growing states in the nation, particularly attracting wealthy individuals seeking favorable tax policies, year-round warm weather, and increasingly sophisticated urban amenities in cities like St. Petersburg.
