ST. PETERSBURG (FOX13) - Downtown St. Petersburg's recently renamed "Priatek Tower" could have a baby brother within a few years, assuming owner Kucera Properties can find a development partner.
"We are taking our property to market in partnership with Cushman and Wakefield for a build to suit opportunity for a mixed use development," Kucera vice president Nathan Lehoux said. "We don't have any definitive designs. We've looked at some that have been drafted by a few architects."
Lehoux told FOX 13 News that "the vision" is for an $85 to $125 million project that would include office, retail and residential space with a hotel component and 600 parking spaces.
At 386 feet, the Priatek Plaza is Pinellas County's tallest office building.
Lehoux thought the new structure would be no more than 250 feet tall, in large part to preserve views from the upper floors of the 28-story office tower. He said his company was well aware of the development potential when it acquired the property 13 years ago.
The site was developed in the 1980's to accommodate a second tower, which has never been built.
"We decided to sit on it until we felt that the market was ripe enough" Lehoux explained. "There's actually not a lot available in downtown St. Pete anymore. This is one of the last great pieces of development that are in the core business district."
The existing tower is directly across the street from a parking garage that will house a new museum. It's also close to One St. Petersburg, another project that will fill an entire city block with a 13-story hotel and a 41-story condominium tower that will be the tallest building in Pinellas. That project "goes vertical" early next year.