The Residences at 400 Central has recently secured $252 million in financing for the construction of the 46-story mixed-use residential tower in downtown St. Petersburg. The financing will be provided by Bank OZK. This is one of the nation’s most active construction lenders. Bank OZK has also participated in developments such as Water Street Tampa and other complex projects in cities across the United States.
The Residences at 400 Central in St. Pete
The Residences at 400 Central will create a new neighborhood in the center of downtown St. Petersburg. It will have 1.3 million square feet of interior space that includes 301 luxury condominiums with views of Tampa Bay and the Gulf of Mexico. There will also be shops, restaurants and office space.
The Bank OZK financing arrangement comes amid substantial progress on site. The project general contractor, Suffolk Construction Company Inc., has already installed 80 percent of the steel-reinforced concrete pilings. With the foundation complete, vertical construction of the tower is scheduled to begin by March of this year.
Related: Construction Begins at The Residences at 400 Central in St. Pete
“Bank OZK is pleased to partner with the talented team at Red Apple Real Estate on a transformative project like The Residences at 400 Central,” said Greg Newman, Managing Director of Originations at Bank OZK. “This highly attractive development will have a positive impact on the Tampa Bay region and its residents. And we are excited to help bring it to life.”
The Residences at 400 Central will soar 515 feet above downtown St. Petersburg’s vibrant Central Avenue.