St. Pete's tallest residential building adds upscale wine bar & market as first retail tenant

ST. PETERSBURG, Fla. - St. Pete’s skyline is welcoming a new addition at street level, as the region’s tallest residential building secures its first retail shop.

The landscape of Central Avenue has shifted dramatically from the quiet Saturday nights of past decades.

"Growing up here as a kid, I could literally throw a baseball down Central Avenue on a Saturday night and not hit anything," St. Pete Mayor Ken Welch said.

The backstory:

The latest addition to the bustling blocks of businesses is the first retail tenant for 400 Central, the tallest building on Florida's Gulf Coast. It’s called Volta Wine + Market. The new business will feature a wine shop, specialty food market, and a lounge and wine bar.

What they're saying:

"Most importantly, [we want to thank] the creative, inspiring and tenacious small business owners who made Central Avenue a vibe," Volta founder Rachelle Tomushev said during a press conference Wednesday. "This show does not go on without you."

Co-founder and Michelin-recognized sommelier Zach Pace noted that the decision to set up shop on Central Avenue was driven by the city’s unique atmosphere.

"St. Pete's allure is that balance of nostalgia and modern energy," Pace said. "We're a small, big city, or a big, small city."

Other local shop owners, like Jane Rakestraw, owner of Schakolad Chocolate Factory, across the street from 400 Central, say new development is drawn here because of St. Pete’s small-town feel.

"It still has that charm," Rakestraw said.

Schakolad Chocolate Factory has been on Central Avenue for more than 20 years. Rakestraw says her business took a hit during 400 Centrals' construction because of lack of parking, but now it is thriving. She says the development has helped.

Strategy for growth

For Mayor Welch, the addition of luxury retail and high-end residential units is part of a calculated urban plan. Welch insists that while the city is evolving, the goal remains a "balanced" development approach.

"We are evolving, but we're doing it in a way that still gives the public access to great amenities like Volta, still addresses issues from residential market rate and high-end to Class A. But also throughout downtown, you do see affordable and workforce housing. We are committed to making sure that this progress is truly inclusive," Welch said.

Welch said the city and the county planned for the growth.

"In those activity centers, downtown St. Pete, Gateway, Tyrone, Skyway Marina District, that's where we want the density," Welch said. "We want to link that with transportation – so, jobs, housing and transportation in those areas of activity, and then our neighborhoods continue to be the traditional neighborhoods," Welch said.

Welch said the issues with infrastructure aren’t due to growth as much as they’re driven by the infrastructure’s age, and the impacts of extreme weather.

"We need to update our infrastructure regardless of growth," Welch said.

Investing in the future

Welch said they’ve already fast-tracked several projects and millions in long-term infrastructure investments.

"We're moving forward with a ballot referendum this November called SPAR, St. Pete Agile Resilience, to help us bond about $600 million for stormwater and water," Welch said.

What's next:

Volta Wine + Market is expected to open its doors this summer. Representatives for 400 Central say there are approximately eight to 10 retail spaces remaining in the building. Other confirmed tenants include a bank and a real estate office.