ST. PETERSBURG, FL—The Allen Morris Companyreports it has closed on the purchase of two acres of undevelopedland on First Avenue South here where it plans to build TheHermitage Apartment Homes.
The Hermitage project will encompass an entire city block indowntown St. Petersburg. Construction on the eight-story buildinglocated at 700 First Avenue South will begin in July, with studio,one-, and two-bedroom units scheduled for occupancy at the end of2015, company officials say.
“St. Pete's population was once dominated by retirees, but theaverage age is trending younger,” says W. AllenMorris, chairman and CEO of the Coral Gables, FL-baseddevelopment company. “The area's employment growth rate for youngprofessionals is now the highest in Florida, and we are excited tobe investing in the city's future.”
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
