Downtown St. Pete Is Getting Even Taller: Three New Towers Are Changing the Skyline
Downtown St. Petersburg's skyline is preparing for another major transformation, with two massive 44-story condominium towers proposed for the Hilton Bayfront property and a separate 33-story luxury apartment building getting ready to welcome its first residents. Between the two developments nearly 600 new residences could be added to downtown, further reshaping the city's booming urban landscape.
As St. Pete continues to attract major real estate investments, these latest projects are raising the bar for luxury living while bringing familiar questions about affordability, density, and just how tall downtown should become.
Two 44-Story Towers Could Replace the Hilton Bayfront
One of downtown St. Pete's most recognizable hotels could soon disappear from the skyline. Developer Kolter Urban has proposed a $325 million redevelopment of the Hilton St. Petersburg Bayfront at 333 1st Street South, replacing the existing 15-story hotel with two towering 44-story condominium buildings reaching approximately 509 feet into the sky. If approved and completed as proposed, the twin towers would tie for the third-tallest buildings in St. Petersburg.
The ambitious project would introduce 325 luxury condominiums, nearly 18,000 square feet of commercial space, and hundreds of parking spaces. The proposed towers would dramatically transform the property near the waterfront, adding another major residential development to an area already home to some of St. Pete's tallest buildings, including ONE St. Petersburg, Saltaire, and Art House. Kolter Urban has played a significant role in developing all three of those properties.
While the project remains in the planning stages, its size alone is generating attention. No official construction timeline, condominium pricing, or hotel closure date has been announced. The proposal represents another significant step toward a denser, increasingly upscale downtown St. Pete, where luxury high-rises continue to replace older properties and reshape the city's waterfront-adjacent skyline.
33-Story 3rd & 3rd Tower Begins Leasing With Apartments Starting at $2,730
Just a few blocks away, another massive addition to downtown St. Pete is nearing completion. The 33-story 3rd & 3rd apartment tower at 235 3rd Street South has officially begun pre-leasing, with its first residents expected to move in by mid-December 2026. Developed by Third Lake Partners and St. Pete-based Echelon, the building will feature 262 luxury apartments ranging from one-bedroom residences to expansive four-bedroom penthouses.
Luxury comes with a serious price tag. One-bedroom apartments currently range from $2,730 to $3,075 per month, two-bedroom units start at $4,570, and three-bedroom apartments begin at $8,585. For those looking to take downtown living to another level, the building's two-story penthouses start at an eye-catching $20,000 per month. Despite those prices, approximately 20% of the residences have already been reserved.
Residents will have access to an eighth-floor pool deck, private dog park, fitness facilities, coworking spaces, entertainment areas, and impressive views overlooking downtown and Tampa Bay. The development also includes approximately 15,000 square feet of ground-floor retail space, potentially bringing additional shopping and commercial activity to the surrounding neighborhood. With construction nearing completion, 3rd & 3rd is among the latest luxury residential projects preparing to open in downtown St. Petersburg.
With one major tower preparing to open and two more proposed nearby, downtown St. Pete's skyline is continuing its dramatic transformation. The developments promise more residents, commercial space, and investment, but their arrival also highlights the ongoing conversation surrounding luxury housing and affordability in a city that looks increasingly different with every passing year.
