400 Central: New 46-Story Development Impacts St. Petersburg
- Petersburg’s 46-story 400 Central tower, the city’s tallest building, is casting a growing shadow over Central Avenue businesses as construction nears completion and residential occupancy begins.
- The mixed-use development, which includes 301 luxury condominiums, 60,000 square feet of street-level commercial space, and 45,000 square feet of Class A office space, has been under construction...
- Mayor Ken Welch praised the tower as a symbol of the city’s evolution, stating it represents St.
St. Petersburg’s 46-story 400 Central tower, the city’s tallest building, is casting a growing shadow over Central Avenue businesses as construction nears completion and residential occupancy begins.
The mixed-use development, which includes 301 luxury condominiums, 60,000 square feet of street-level commercial space, and 45,000 square feet of Class A office space, has been under construction since October 2022. The project, developed by the New York-based Red Apple Group, reached a milestone in December 2025 when the city granted a temporary certificate of occupancy for the first 25 floors, allowing residents to begin moving in by the end of that year.
Mayor Ken Welch praised the tower as a symbol of the city’s evolution, stating it represents St. Petersburg’s emergence as having “the most dynamic, walkable and vibrant downtown in all of America.” John Catsimatidis Sr., founder of the Red Apple Group, described the project as the “cornerstone of St. Petersburg’s growth,” emphasizing its role in attracting further investment to the area.
However, the construction and subsequent shadow cast by the tower have created challenges for long-standing businesses along Central Avenue. Thuy Lee, owner of La V Vietnamese Fusion, which has operated on the avenue for 14 years, reported a 35-50% decline in business, citing the combined impact of the pandemic and five years of construction at 400 Central.
Lee acknowledged some improvements, such as the return of parking on one side of the street, but said she remains anxious for a return to normal conditions. Similarly, Phillip Ingram, owner of Lonni’s Sandwiches, noted that while he was once one of the few dining options on the block when he purchased the shop just before the pandemic, he now faces increased competition from new tenants within the 400 Central development.
The ground level of 400 Central is designed to host a mix of independent shops, restaurants, and galleries, aiming to create a self-contained urban community. While residents are drawn to the building’s architectural design, expansive terraces, and panoramic views of Tampa Bay and the Gulf of Mexico, the influx of new commercial space has intensified pressure on existing local establishments.
Despite the challenges, city officials and developers frame the project as transformative. Mayor Welch has consistently highlighted the development as part of a broader vision for downtown revitalization, while Catsimatidis pointed to related investments, including a planned 23-story tower near Mirror Lake and a new regional office for the Red Apple Group in St. Petersburg.
As of April 2026, the tower continues to reshape the streetscape of Central Avenue, symbolizing both the promise of urban growth and the complex realities faced by legacy businesses navigating rapid change in one of Florida’s most rapidly evolving downtown districts.