http://www.signaturestpete.com/images/Signature_white.gif

www.signaturestpete.com

Building Details
Under Construction
36 stories
243 residential units
19,000 sq ft retail
36,000 sq ft office
80' high waterwall


http://www.sptimes.com/2005/04/07/images/large/B_6_6bcondo_211580_0407.jpg

http://images1.e-net.com/smith/Development/full/157.jpg

Construction Status - 02/07

http://www.signaturestpete.com/images/construction/15.jpg

http://www.signaturestpete.com/images/construction/9.jpg

http://www.signaturestpete.com/images/construction/7.jpg

more at www.signaturestpete.com

So will they be keeping us updated with Signature with pictures like what they do with Skypoint, but with a camera?

So will they be keeping us updated with Signature with pictures like what they do with Skypoint, but with a camera?

For now, it looks like the construction updates will come in the form of a few pictures every week or two. Members can always contribute, too. :lol:

Newport, novare has spoiled you, most projects don't have webcams or construction pictures....for example the tallest building in the world-burj dubai.

Newport, novare has spoiled you, most projects don't have webcams or construction pictures....for example the tallest building in the world-burj dubai.
:cry: That's what my dad say to me :cry:

Wow they havent gotten very far.... maybe its me but i think signature might look pretty similar to this tower in Dallas.

http://img176.imageshack.us/img176/5228/victoryyx6.jpg

Signature is a hot project, good to see them begin to go up. It'll be nice to bring something more shiney to that part of Downtown. :cool:

Wow they havent gotten very far.... maybe its me but i think signature might look pretty similar to this tower in Dallas.

Not at all. Signature is thinner, also the canopy is further away from the roof. It also looks like Signature bends, but really doesn't.

Hope I didn't burst your bubble. :)

lol I didnt say exactly i said similar

Signature get the thumbs up from me. what is that Dallas project? those two shorter bldgs. are awesome looking.

NEW CONSTRUCTION pics for feb 07' on the website : signaturestpete.com
(click on contruction) :)

Second post updated with new pictures...

So will they be keeping us updated with Signature with pictures like what they do with Skypoint, but with a camera?
There are enough people here these days that we'll just keep updated on it ourselves if need be.

Concrete being poured at Signature Place
Tampa Bay Business Journal - 2:50 PM EST Friday, March 2, 2007

Notice to motorists in downtown St. Petersburg this weekend: Don't get stuck in traffic, or anything else.

A convoy of 120 concrete trucks is scheduled to line up Saturday at the site of Signature Place, a 36-story condominium tower being built at 100 First Ave. S.


The concrete pour will be the equivalent to paving a 4-foot-wide, 4-inch-deep sidewalk the length of 25,000 linear feet, or nearly five miles, according to Bovis Lend Lease, construction manager and general contractor for the $125 million project.

Signature Place, a development by Joel Cantor, will contain 715,000 square feet of residential, office and retail space. It promises to be the tallest building in Pinellas County by the time it's completed in early 2009.

http://tampabay.bizjournals.com/tampabay/stories/2007/02/26/daily66.html?surround=lfn

I wonder how it is turning out today?

I wonder how it is turning out today?

Is it raining pretty hard over there today?

^not too hard, but it can't be good.

Its not too bad. Actually, rain within certain thresholds tends to help concrete set up a little better. We poured 1400 trucks in one night last summer and it rained right up until the first trucks showed up on site. That was a bit uncomfortable, but a drizzle is usually alright.

^I know. I was thinking more about the traffic, what with it raining too.

Oh yeah your right. People drive like shit around construction sites.

I was looking back at some information from the beginning of March:

"A big building demands a big pour. Pinellas County's most expensive building, the $125-million, 36-story Signature Place condominium tower at 100 First Ave. S, will gum up 11 city blocks Saturday morning to make room for 147 concrete trucks. How much of the stuff will feed the tower's foundation Saturday? Let's say it's enough to lay a sidewalk nearly 5 miles. Signature developer Joel Cantor said the glass, sail-shaped building should open in March 2009 with condos costing about $700,000 apiece."

So how did the pour go? Anyone have any recent pics of the site?

^Nothing from the developer yet. They usually post pictures once a month and it has been since February, so I'm checking daily for an update.

Signature has upadated their construction pictures, and now they have some nice yet simple captions.

Here's a few:
http://www.signaturestpete.com/images/construction/Tower%20Foundation-captioned.jpg

http://www.signaturestpete.com/images/construction/Entire%20Site-captioned.jpg

http://www.signaturestpete.com/images/construction/West%20Liner%20Second%20Floor-captioned.jpg

http://www.signaturestpete.com/images/construction/Site%20looking%20east-captioned.jpg

It's about time they update. Very nice captions, too. Thanks FF.

Signature is making real progress. All of DT St. Pete is, actually. Each time I make it down, it feels remarkably nicer. Things look wonderful lately.

It's great to see the best project in the bay area rise.

Fantastic! Thanks for the post FF. It's great to see this project getting off the ground in a place that is very enjoyable and making wonderful progress. What a sight to behold when it is finished. I can't wait.

Nice work by the Signature folks... Saves us the time. ;)

http://www.sptimes.com/2005/04/07/images/large/B_6_6bcondo_211580_0407.jpg

http://images1.e-net.com/smith/Development/full/157.jpg

this thing is going to look nice. it will be the SIGNATURE skyscraper for St. Pete.

Had a chance to check out the development and progress today while attending the Grand Prix. I certainly like the location and look forward to seeing this project completed.

There are more picture construction updates for April at http://www.signaturestpete.com/construction.php#

Looks like for the Northern part of the tower they're working on the ceiling for the 2nd story/floor for the 3rd story.

May pics are up!

http://www.signaturestpete.com/construction.php#

Very nice, indeed, Hannibal. Thanks for sharing! :)

This will bea great complex! can't wait for the 80 foot waterfall with public plaza!

The wife and I did the tour about a month ago. If your not into contemporery design, look elsewhere.
I found it hard to justify a 1200 square feet on the 16th floor for 750,000 -plus a maitinance fee of approximatley 700.00 per month!
We did the Grand Central and the Plaza at Harbour Island as well and found them underwhelming too. Grand Central has Viking appliances but poor layouts and some pathtic views. Yes it will get better, it's not worth it now.
I find it difficult to leave a townhome on Tampabay, which has a $35,000. mortgage for the afformentioned.
But hope spings eternal.........

Viking appliances themselves are hard to justify and definitely are not a reason to choose a place (actually might be a reason not to choose a place). I prefer a range and oven that don't constantly break, no matter how commerical/hip they look. But that might be because I actually cook and don't want a kitchen just to look at. Anyway, enough ranting.

June pics are up!!!:banana:

http://www.signaturestpete.com/construction.php#

Looks to be well on its way to rising into the St. Pete skyline.

July pics are up!!!

http://www.signaturestpete.com/construction.php#

I find it difficult to leave a townhome on Tampabay, which has a $35,000. mortgage for the afformentioned.
But hope spings eternal.........
lol... You're in the same boat as me, but I'm much further down the price food chain. I live in a run-of-the-mill townhouse which isn't all that great, but it is paid off, so even though I don't make much money, I'm able to easily pay all bills even when unexpected things come up, and still be able to go out whenever I feel like it, pay for school and all of that without any debt at all... I guess since I am single, I find it extremely hard to justify moving, and putting my life into turmoil again, just when I've gotten it pretty stable.

A paid off mortgage....what a beautiful thing. That must be nice. :)

It's not as nice as it sounds. I really blow way too much on going out, because it's so easy. I could have easily saved up $5k towards a car this year, which combined with the car I have, could have really paid towards a much better car than the 5yr old POS I drive.


But enough hijacking...

A paid off mortgage....what a beautiful thing. That must be nice. :)

It's a beautiful trap to be in... If a 900 sq ft ranch style 1959 house is beautiful. But it's paid for...:cheers:

http://www.signaturestpete.com/images/construction/Crane%20Jumping%207.14.07%20G.jpg

Fantastic picture. Look at the Signature taking shape... nice.

Great shot, Maxim. Thanks. :)
This project is progressing quicker than I would have suspected.

Indeed, the progress is looking good. This building will certainly improve the St. Pete Skyline.

A handful of August pics are up. It's up to the 12th floor!

http://www.signaturestpete.com/construction.php#

Yeah, they're cranking along good...

Why does it look like there are completely separately buildings go up?

one is an urban retail mall/office space on 2nd st and the other is the tower on 1st. I promise at some point when I am not busy and remember....I will take more pics of this tower, the larger it grows, the faster it goes up. I can now see it down the road from my complex and it shadows over the university village/publix shopping area....its going to be an amazing tower for st. pete and tampa bay in general, its rare to see something built with such quality and design here.

I need to get over to that side of the bay and take some photos, only problem is that this time of year I am less than excited at the prospect of getting out in the heat. LOL I'll shoot for September or October.

What a great addition for St. Pete! What is the tilt-up structure on the edge of the parking garage (4th picture- August)?

Im not sure what that is. Anyone else?

I looked at the picture again. I don't see a tilt up. It might just be the picture.

Now that 400 Beach Drive is nearing completion, does anyone know what retail will be opening there? I know Ooze and Schmooze(the restaurants) will be opening later this year. There seems to be a lot of retail space there. Can someone post a picture of that block before construction of the tower? When there were homes on that:banana: :cheers: site.

http://i16.photobucket.com/albums/b38/orlandonative/8_4_07204.jpg

Sorry, here it is.

The wall segments that you see in the picture are tilt panels as opposed to a poured in place wall.

It looks like the stack for access to a public garage.

Signature construction is moving along. It is now up to floor fifteen!! Almost half way.

Nice progress. I really need to just suck it up and head over there and grab some shots of the construction.

Just a few September pics to view.

http://www.signaturestpete.com/construction.php#

From I-275, it looks about even with McNulty lofts. The parking garage is taking shape too...

was walking home from CVS, its right near my place and the signature is really starting to show in that general university village shopping area....

http://www.paradigm-designstudio.com/91407.JPG

I drove by the Signature construction site today. The tower is now up to the 19th floor! From the car window, you now have to stretch to see the top of the building. It is getting on up there. I can't wait to see it finished.

From last month, but still nice...

http://www.signaturestpete.com/images/construction/9.4.07%201.jpg

http://www.signaturestpete.com/images/construction/9.13.07%20007.jpg

Moving along well I see...

Looking forward to finding out what retail will be in there.

Just a splattering of October pics up!
http://www.signaturestpete.com/construction.php#

We ate at Midtown Sundries under the McNulty Parking Garage at McNulty Lofts tonight. It's right next door to Signature. The food's not the best I've ever had but the bar and grill restaurant looks very much like the old Cheers TV show. We eat there probably once a month. I like the Lucky Dill at Central and 4th St for their sandwiches. It's a hole in the wall New York style deli with great sandwiches (in my humble opinion). Looking forward to the new eats that will follow the new residences into DT St. Pete!

Yeah, Lucky Dill ain't bad for a franchise chain. They're usually consistent in my experience and are good at assembling big orders on time.

It has always been my experience that while being somewhat overpriced they are consistent as well. The one in down town Tampa is a little better than the St. Pete location.

I love this building. I can't wait to see it completed.

It is going to be a very unique tower/residence, definitely looking forward to seeing it prominently as a backdrop to the St Pete Grand Prix.

Lovely. I can't wait for DT St Pete to finally compete, head to head, with the skyscrapers of DT Tampa. Well, I know its been happening already. But I'm looking forward to a bigger skyline...is my point.

^I wouldn't go that far... DT St Pete's projects continue to be developed at a different scale than DT Tampa's projects.

Yes, DT St Pete's skyline is growing, but it is fundamentally smaller and shorter than DT Tampa's, and likely will be so long as Albert Whitted exists, and there is a city council willing to kowtow to a handful of loudmouthed people over the interests of the entire city.


...and as we all should know by now, DT St Pete totally kicks DT Tampa's ass where it matters... From the street. And that too will be the way it is for a long time to come.

Thanks for posting the October pics. They look great! The building is really taking shape now. I too anticipate what retail will be there. I really hope it isn't more cutesey boutiques. Maybe something more like Crate & Barrel or Pottery Barn or something along that line would be cool.

Lovely. I can't wait for DT St Pete to finally compete, head to head, with the skyscrapers of DT Tampa. Well, I know its been happening already. But I'm looking forward to a bigger skyline...is my point.

Umm, ok.

As of today, Signature is up to the 23rd floor!:banana:

That's cool

I saw Signature in person and it is amazing. I was in St. Pete this past weekend and I happened upon it. Ovation is also getting on the third floor. Did anyone go to the event in downtown on Sunday, near the Holocost Museum.

http://www.sptimes.com/2007/11/09/images/tb_allang450.jpg

From the article on the Rays stadium - but look at signature

^^
It's-a-gettin'-taller!

Check them out!:cheers:


http://www.signaturestpete.com/construction.php#

It is now up to the 26th floor!!!!!!!! This building is going to be so cool.

It's starting to seem like it won't be as tall visually on the skyline as I had expected. Maybe there's more above the top floors than I realize, but I don't see how this gets taller than BofA, and it's supposed to.

That is odd...

That is odd...


It is, but JasonHouse is right from the pier it doesn't do much in the way of enhancing the skyline upward.

[edit: I had written something here about a roof structure, but it doesn't add to the height, it only fills in the narrow side of the top of the tower, to maintain the look where it is too narrow to be usable as an enclosed space.]


Due to its location, shape and the type of glass being used, the building won't have as much of an impact on the skyline as other projects have. But that's the difference between putting up a tall building when there are none, and putting one up when where are a few of them now.

There are photos up for December. :)

http://www.signaturestpete.com/construction.php#

Now up to the 27th floor.

Wow another couple months and it will be complete!

I find it hard to tell just how tall it is (not in feet but appearance). These pics make it look tall but in St. Pete, using BoA as a guide, it still does not look that tall. Bascially what Jasonhouse said, I guess

I know what you mean. However, once the top "sail" or whatever is constructed, will create quite a bit more height.

^There is no sail structure that rises above the roof, that's just fill on the top floors for the portion of the tower that would otherwise be too narrow to enclose and occupy.

Interesting...

jan 3rd photos
http://img.photobucket.com/albums/v467/blazertke/IMG_1062a.jpg

http://img.photobucket.com/albums/v467/blazertke/IMG_1065.jpg

What is the deal with the tipped over boat?

it was low tide

Dang, the Signiture is almost to the top...if not already.

The cranes look pretty tall for a building that is close to being topped out.

I was thinking that too... yet it is near being topped out... It's supposed to be like 366ft when topped out, and looks to have about 60ft or so to go (up to 29th of 33 floors in that pic)... Those cranes are easily 400' to the bottom of the boom, if not more... If someone happens to be over there and counts the tower sections of the crane, we could figure it all out real quick.

They must be tall to stay out of the way of something... I don't know how the concrete is getting up there, but would it make a difference if they were using a concrete pump and boom, instead of bucketing it up?

They'll do both. They'll bucket the columns and pump all of the floors and shear walls.

70-80' clearance is enough. Too much height can create a lot of problems.

It would be a major screw up to say the least so I will guess that its right.

and looks to have about 60ft or so to go (up to 29th of 33 floors in that pic)
agreed

i believe signature place will be 20 feet shorter than the Bank of America building.
so its within reason to assume that a view from the pier, signature will appear about the same height as the Bank of America building because that building is a few blocks further west
http://img.photobucket.com/albums/v467/blazertke/IMG_1083a.jpg

Any pics of the street action, anyone?

Just a handful of January pics up!

http://www.signaturestpete.com/construction.php#

Holy Crap! Paint already? They do not want to get this one knocked out do they?

(Sarcasm)

Yes, paint is already going on. I drove by Signature yesterday and noticed quite a bit of progress since last month. They are now working on the 32nd floor. I guess the large top thing (whatever it is called) willl be going on soon. Does anyone have any idea of what retail will be going in when completed?

Nice tower--tends to give St Pete an edge in the Bay area.

Nice tower--tends to give St Pete an edge in the Bay area.

I wouldn't go that far. It is a nice tower, there is not doubt about that, but it is just one; however, St. Pete is getting an edge for the residential market in the local DT areas. Then again, when Element and several of the Channelside projects are complete that might give Tampa an edge for design...but Signature is a bit taller than some of the Tampa projects. Well, maybe it is just nice to live in an area that is finally getting DT residential towers, no matter which side of the bay you are on.:banana:

Steve

Skypoint and Element are both handsome buildings, and I think the Tampa skyline 'composes' in a way St. Petersburg's doesn't.

What sets the tower at Signature apart, I'd say, is its distinctive shape. Not a box. The floor plans for large tower flats show some originality also.

Yes, paint is already going on. I drove by Signature yesterday and noticed quite a bit of progress since last month. They are now working on the 32nd floor. I guess the large top thing (whatever it is called) willl be going on soon.

:banana:

BTW: Welcome to SSC burnside. I hope you enjoy posting here. :)

Burnside isn't new, just infrequent.

So, it's welcome back! :)

Jasonhouse and wslupecki, thanks for the welcome and 'welcome back'. I'd love to read and post more often, but banking and finance don't leave much time. SSC is my guilty pleasure.

Skypoint and Element are both handsome buildings, and I think the Tampa skyline 'composes' in a way St. Petersburg's doesn't.

What sets the tower at Signature apart, I'd say, is its distinctive shape. Not a box. The floor plans for large tower flats show some originality also.

I'm with you, burnside. As I see it, the Signature tower is, at least asthetically, the most impressive project in West Central Florida. It's certainly not your typical cookie-cutter design. More importantly, IMHO it challenges future projects to think outside the box. Kudos to the architect! :)

Skypoint and Element are both handsome buildings, and I think the Tampa skyline 'composes' in a way St. Petersburg's doesn't.

What sets the tower at Signature apart, I'd say, is its distinctive shape. Not a box. The floor plans for large tower flats show some originality also.

I agree. I tend to think Tampa's skyline looks more gorwn up and mature. Probably because of all of the glass office buildings compared to the surprsingly few glass/more stucco towers in St. Pete. I also tend to think St. Pete's towers are less attractive then Tampa's. Tampa's also has a a lot more, great varitey of angles to view it from. However, if St. Pete keeps getting more Signatures and Ovations as oppsed to Parkshores and 400 Beach Drives that could change. St. Pete definitley has some nice looking proposals.

That said, downtown St. Pete is more alive then downtown Tampa right now, even though both are improving.

Some great pics added to January!

http://www.signaturestpete.com/construction.php#

I found this picture from an unrelated article showing Signature going up:

http://pinellas.tampabay.com/2008/02/17/images/tb_yacht_450.jpg

http://www.sptimes.com/2008/02/18/Southpinellas/Big_boats_lead_to_big.shtml

id say thats just about topped out.

on a side note... man does my boat look good from that angle

^Which reminds me... Does anyone know where the building data came from that we're using for this project?

I just noticed that it calls out for 36 floors and 390ft... My info shows this project is supposed to be 34 floors and 366ft. Just trying to clear it up...

^Which reminds me... Does anyone know where the building data came from that we're using for this project?

I just noticed that it calls out for 36 floors and 390ft... My info shows this project is supposed to be 34 floors and 366ft. Just trying to clear it up...

According to their website the top residential floor is 34. But it looks like they could be two stories (the penthouse levels).

I'm more interested in the height really... It's the difference between it being St Pete's new tallest or not.

I'm just happy to have one of the best looking residential buildings in Florida in St. Pete. Don't worry about height or skyline composition, that will come in time. It is very goodlooking building and due to its location on the Southern side of downtown, I doubt anything will be built that could block it (Bayboro Airport/FAA).

:cheers::)That is one SEXY tower!

Don't worry about height or skyline composition, that will come in time.
I'm not worried about that, I'm worried about having an accurate database.

I thought you were an AutoCAD man, not a database guy. Don't spend too much time hanging around accountants and numbers people, they suck the life out of you.

It appears to be getting rather tall!

http://www.signaturestpete.com/construction.php#

it is now just under the height of the bank of america tower as of Monday...

None of you St. Pete guys work on this site? It would be great to get some up close and interior photos.

^haha, I got new job, but no more urban projects... It's all malls, office campuses and light industrial. (I design the reinforcement and bracing for tilt-wall panels)

I'm working on a Kohl's being built later this year in Spring Hill and a couple 3 story office buildings in Austin Tx right now.

Yeah when I switched from doing large new custom new construction in Florida, to smaller remodelling in Georgia it was quite a shift. But at least I am the head designer now. Its nice to be able to set the CAD standards for the department. Bossing around the interior desicrators is nice too.

I read here that the second floor office space is sold out (nothing about the other floors). Half of the ground floor retail space will be a 5/3 Bank. They're lookin to get a restaurant for the other half. I thought there was going to be more retail than that, but I guess not.

http://stpeteshines.stpete.org/default.aspx?pageid=857

Banks are strong tenants. Good news for the residents.

Hmmm...... how long before the top is completed? I'm disappointed to hear about just a bank instead of some cool retail on the corner.

Banks bring people too. And better jobs.

The tower is now as tall as the BofA building......watching this project everyday made it that much more worth this, it now seems to be the tallest in St. Petersburg and Pinellas County

http://www.paradigm-designstudio.com/signature2.jpg
<br>
http://www.paradigm-designstudio.com/signature1.jpg

March 8, 2008

http://i140.photobucket.com/albums/r19/rtpfried/CrawfishFestival/SkylineUC.jpg

http://i140.photobucket.com/albums/r19/rtpfried/CrawfishFestival/SignatureUC.jpg

http://i140.photobucket.com/albums/r19/rtpfried/CrawfishFestival/SigDetail.jpg

Great pics...it really shows how great of a DT St. pete is getting, residential wise anyways. Man, it'll be the day that we get a supermarket in DT Tampa. Good for you St. Pete!

Steve

Bayshore and Platt too far away for you to go for Publix? It's in the shadow of multiple towers.

Me? Well, yes it is since I live in Pasco....but I digress.

No, the Publix you mentioned is not far away at all. But in a DT community like we are trying to build the supermarket must be within walking distance, or easy transit distance for it to truly qualify as convenient to DT residents. Part of the whole DT residential concept is that you do not have to drive to where you want to eat/live/be entertained/shop unless you want to. There is no transit link to speak of, perhaps if the LRT was built and ran in that area it would work, but right now there is really nothing. So, yes, it is too far away to generally qualify unless you want to drive, which is what we are trying to get away from....

Steve

April pics:

http://www.signaturestpete.com/images/construction/DSCN1082.JPG

http://www.signaturestpete.com/images/construction/DSCN1079.JPG

http://www.signaturestpete.com/images/construction/DSCN1078.JPG

http://www.signaturestpete.com/images/construction/DSCN1076.JPG

http://www.signaturestpete.com/images/construction/DSCN1068.JPG

http://www.signaturestpete.com/images/construction/DSCN1061.JPG

More (http://www.signaturestpete.com/construction.php#)

While I have toa gree the Tampa Publix is a pain simply because it is not connected to the main part of DT/Channelside, I hate to beark it, but most people drive to the St. PEte Publix. . . and it is a strip store with an surface parking lot. THat being said, it is very helpful for downtown and at least they connected it to the sidewalk - which they did not do on Platt St.

BUt I digress - signature is cool. Let's see how all that Miami white stands the test of time right.

I'm sure most people drive to the Publix in St Pete too. Groceries are a lot easier with a car. I grew up within in few minutes walk of two grocery stores and we almost always drove. Who wants to walk holding 30 pounds of food, much of which needs to be kept cold? I don't know about you, but I always make the grocery the last stop so that meat and dairy doesn't have to hang out in the hit a minute longer than it has to.

(And for the record I've walked to Bayshore Publix. Just for the exercise, I didn't buy anything. It's connected to DT fine, there is a lot of foot traffic in that area.)

I used to live next to the Harbour Oaks neighbourhood in Clearwater, on the western end of Pine St. by the big church, and I always walked to the Publix on S Fort Harrison. It was a nice 5 min walk. If you balance out the bags with both hands it is not a problem at all.

Especially now Publix have those new fabric bags with handles that you can buy. At the Gaspirilla run they were giving them out and I got 3 for free. They hold a lot of stuff, easier to hold and they're strong.

But anyway, we got way off topic....

^Yeah, those bags rock.

Thanks for posting the great pics. Living fairly close to the site, I watch the progress on a regular basis. From some views the building looks taller than the BofA building. From other views such as coming into downtown from 16th St, the building look shorter than the BofA building. I wonder why that is.

Well at some angles the Bank of America building in DT Tampa looks taller too. I guess its from different placement and the heights being so close!

Signature doesn't look taller to me. Looks like it's 360ft or so.

Today, I went down south on N. 4th St., went boating in Tampa Bay, wrapped all the way South around Tierra Verde and came back home north on I-275 today, and from every angle, even the Bay where Signature is a block closer, BoA is taller. It's pretty clear.

Great pics...it really shows how great of a DT St. pete is getting, residential wise anyways. Man, it'll be the day that we get a supermarket in DT Tampa. Good for you St. Pete!

Steve

Splitting hairs here, I suppose, but I consider the Publix at Bayshore and Platt to be downtown.

St. Pete has an advantage for residential construction, in that a lot of the older midrises downtown already are condo towers. Downtown SP's raison d'etre is more resident and tourist friendly - they've got the Pier, a number of marinas and the Yacht Club, and several museums already there. Tampa has always been the business center, while St. Pete has always been God's waiting room, so to speak.

Actually, I'm pleased that retail in the downtown area is starting to pick up some steam. The midrise condo building at Bayshore and Platt is finally getting some retail/office tenants on the ground floor (the GOP already has offices there, and Starbucks is coming soon.

Give it time... Tampa is starting to transition from urban sprawl to a more well-defined core. Witness all the higher-end construction taking place on Kennedy and tell me it's not so. As the city gets more concentrated and starts building up rather than out (a trend that intensifies as gas prices skyrocket), I think developers will adapt and respond to an increasing market for mixed-use midrises. Real public transit will also be more feasible, as interior routes will begin to serve more customers per square mile.

Tampa came of age in the era of the cheap automobile, and it shows.

True, but here is what I stated before towards my belief that the Bayshore Publix, while it is in the general DT vicinity, it is not close enough to count:

Me? Well, yes it is since I live in Pasco....but I digress.

No, the Publix you mentioned is not far away at all. But in a DT community like we are trying to build the supermarket must be within walking distance, or easy transit distance for it to truly qualify as convenient to DT residents. Part of the whole DT residential concept is that you do not have to drive to where you want to eat/live/be entertained/shop unless you want to. There is no transit link to speak of, perhaps if the LRT was built and ran in that area it would work, but right now there is really nothing. So, yes, it is too far away to generally qualify unless you want to drive, which is what we are trying to get away from....

Steve

btw, I was in DT St Pete all yesterday afternoon and evening, going all over the place... I definitely stand by what i said earlier... Signature is right around 360ft, and is NOT taller than BofA.

I see what you mean. I was over there yesterday. I am a little disappointed the building isn't taller. However, it is coming along fairly quick. It's to bad there are some ugly buildings around Signature. Bayshore Tower is one hideous biulding..

While working over at Parkshore today, I snapped some pics from the roof. Here's Signature and Ovation reaching skyward. Never been a fan of shoe box tower myself. At least it no longer dominates the skyline...
http://i10.photobucket.com/albums/a142/HemiRoy/FromParkshore.jpg

Coming along nicely, both Signature and the skyline overall. Hope the Tropicana Center gets built eventually to fill in that gap.

Signature still looks great, can't wait to go down there and see it in person. But I guess no new tallest for St.Pete, maybe next real estate boom.

WOW! Great pic! Can't wait to see the waterfall.

Anyone know when ground breaking is supposed to happen now that the construction sign has been up for a while?

I drove by Signature this afternoon. The palms are already going in on the lofts side!! They will look great!

This project should have been at least 375'-400' tall in my opinion. For instance, "Element" has almost the same amount of floors as this one and is around 100' taller!!

I agree. It should have been taller.

May 10:

http://farm3.static.flickr.com/2044/2484757066_2d3cf0830d.jpg?v=0

http://farm3.static.flickr.com/2021/2483926663_75cf668090.jpg?v=0

http://farm3.static.flickr.com/2043/2483922571_f12cb5a417.jpg?v=0

http://farm3.static.flickr.com/2044/2484757066_2d3cf0830d.jpg?v=0

http://farm3.static.flickr.com/2375/2484731538_a645427a9e.jpg?v=0

What happened ? Signature was advertised at 390' just prior to and even after groundbreaking.

Maybe they changed it since the real estate market went down the shitter, to save money i guess?

What happened ? Signature was advertised at 390' just prior to and even after groundbreaking.

It's my belief that the media never had it right. I shouldn't be such a lazy SOB. Between Tommy over at sticksoffire.com and myself, we could get better info ourselves.

For what it is worth, there is conflicting info on emporis about the height and rank of the building. They show BOA as taller on the building list page. But in the details they say that Signature will replace BOA as tallest, which is clearly not the case. In any event, emporis claims that Signature 116 meters/381 feet and that BOA is 118 meters/385 feet. I am curious about something else as well....Ovation is supposedly a full 10 stories shorter than Sig but only listed as 23 feet shorter. Thats a pretty big difference in my opinion!

Ovation is in a different strata of quality though. Floor to ceiling heights are taller, and I would venture that the thickness of the structure between floors is a bit greater as well.


And Emporis is next to useless imo.

Is the waterfall still happening? Driving around the building I see no spot on the attached structure that looks like there would water spilling down. And the renders that show the spot on the building where the water fall is supposed to be are inaccurate as to orientation and placement of that attached structure.

I wouldn't be surprised if they nixed it. We'll find out soon enough!

I hope it wasn't nixed. The waterfall will be an amazing feature on this building.

Hi all

Anyone have any idea when the top glass section will be installed on the east end of the building? That "hole" has been there a long time. Also any word on the waterwall yet? Is it happening?

Anyone have any recent construction pics of Signature?

Thanks!

Down comes the crane... Not the spectacular crash that's become the popular method but a more methodical. deliberate dismantling.

http://www.signaturestpete.com/construction.php#

looks stunning. Too bad the economy had to go into the shitters.

^^Thats probably why it didn't end up being the tallest.

I drove by Signature this morning. The signs are already up for Fifth Third Bank coming and the restaurant sign for Z Grille is installed at that restaurant space. The restaurant is apparenty under construction and should be open in a few months. I've also heard that a gourmet grocery is also a possibilty at Signatrure Place. Has anyone heard anything about the gourmet grocer coming? The Signature sign has also been installed on the corner of the lower building. I hope I hope it's a Trader Joe's coming!

August Construction Photots Up

http://www.signaturestpete.com/construction.php#

Print Edition, not full article


Signature Place isn’t short on buyers or price
Friday, August 22, 2008
Tampa Bay Business Journal - by Janet Leiser Staff Writer

http://cll.bizjournals.com/story_image/202575-0-0-1.jpg
Courtesy of Colliers Arnold
Fifth Third Bank and Z-Grille are among the businesses moving into West City Lofts at Signature Place.

ST. PETERSBURG — Condominium sales are anemic and commercial real estate deals are off by two-thirds, but sales are continuing at $165 million Signature Place — soon-to-be downtown’s tallest building.

The developer sold roughly 70 percent of office and retail space in the first phase, a six-story building adjacent to the 36-story main tower, said Colliers Arnold broker Alan Feldshue.

In recent weeks, Gulf Atlantic Real Estate Cos. completed $7.2 million in sales to Fifth Third Bank, The Mahaffey Apartment Co., Z-Grille, a Tex-Mex restaurant and RKM Development Corp., Feldshue said.

Deals involving another 10,000 square feet will close within the month, which means no retail space remains for sale in West City Lofts. Businesses should move into the building late this month.

http://tampabay.bizjournals.com/tampabay/stories/2008/08/25/story4.html

Tallest building?? It's not gonna go higher than this and clearly thats not the tallest... Good to see its selling out, it really is a nice building!

http://i164.photobucket.com/albums/u1/MK727/Tampa/Saint%20Petersburg%20FL/P8130504.jpg

^^ That's what I'm thinkin'... and yes, it is an attractive structure. Nice work, St. Pete! :cheers:

It kind of validates the idea that design sells. There are a lot of very mediocre projects around that are struggling, yet Signature is doing well. Good design will sell a project, now if only most cheap ass developers would learn that.

I wish we could get a building like it in Tampa. Skypoint and Element are nice, but we need an upper class residential tower.

Tallest building?? It's not gonna go higher than this and clearly thats not the tallest... Good to see its selling out, it really is a nice building!

http://i164.photobucket.com/albums/u1/MK727/Tampa/Saint%20Petersburg%20FL/P8130504.jpg

Judging from the pic, it looks like it could be the tallest, unless its closer to the foreground than BofA.

It kind of validates the idea that design sells. There are a lot of very mediocre projects around that are struggling, yet Signature is doing well. Good design will sell a project, now if only most cheap ass developers would learn that.
God forbid a developer to spend money to make a project that people will pay a couple hundred thousand dollars to a couple million to live in. I hope signature becomes an icon to St.Petersburg.

Judging from the pic, it looks like it could be the tallest, unless its closer to the foreground than BofA.
Well even then it still looks a couple blocks closer than BOA.

It really depends on where are you looking from in St Pete. From some angles it looks taller and other angles it looks shorther than the B of A building. I drove by there yesterday, it's looking nice. Many more palms are being planted. ;)

Print Edition, not full article


Signature Place isn’t short on buyers or price
Friday, August 22, 2008
Tampa Bay Business Journal - by Janet Leiser Staff Writer

http://cll.bizjournals.com/story_image/202575-0-0-1.jpg
Courtesy of Colliers Arnold
Fifth Third Bank and Z-Grille are among the businesses moving into West City Lofts at Signature Place.

ST. PETERSBURG — Condominium sales are anemic and commercial real estate deals are off by two-thirds, but sales are continuing at $165 million Signature Place — soon-to-be downtown’s tallest building.

The developer sold roughly 70 percent of office and retail space in the first phase, a six-story building adjacent to the 36-story main tower, said Colliers Arnold broker Alan Feldshue.

In recent weeks, Gulf Atlantic Real Estate Cos. completed $7.2 million in sales to Fifth Third Bank, The Mahaffey Apartment Co., Z-Grille, a Tex-Mex restaurant and RKM Development Corp., Feldshue said.

Deals involving another 10,000 square feet will close within the month, which means no retail space remains for sale in West City Lofts. Businesses should move into the building late this month.

The 366-foot residential tower, designed to look like a gossamer sail, should be finished in late March, said Bill West, who’s in charge of the 100 First Ave. S. project.

About 82 percent of the residences are under contract. “We haven’t had one cancellation,” said Joel Cantor, sole owner of Gulf Atlantic Real Estate.

And financing shouldn’t be an issue, Cantor said. Buyers have high incomes and will live at Signature Place.

A gourmet grocery, operated by Mazzarro’s Italian Market, and an upscale restaurant are being considered for about 10,000 square feet on the tower’s main floor.

High prices
Not only is the retail and office space at Signature Place moving when Tampa Bay area investment sales are off by about two-thirds, it’s fetching an above-average price of $300 a square foot — possibly a record for the city.

“I don’t know of anything that has sold in that price per square foot,” said Feldshue.

The prices, however, aren’t indicative of overall market conditions in Pinellas County, said Mike Talmadge, executive VP of Echelon Real Estate Services LLC.

“It’s an anomaly,” Talmadge said.

He attributes the price to the project’s prime downtown location, which has waterfront views, and its higher quality design. Bovis Lend Lease, known for building landmarks, is constructing the design by architect Ralph Johnson.

Wendy Giffin, president of Osprey Real Estate Services North Bay LLC, said the office condos are among the first locally built for that purpose.

Overall, the Pinellas County office market is more sluggish than Hillsborough County’s, said GVA Advantis broker Paula Buffa. Cushman & Wakefield reports a second-quarter office vacancy rate of 18.3 percent in Pinellas, compared to 13.6 percent in Hillsborough.

One explanation, Talmadge said, is Pinellas has more companies affected by the decline in residential real estate.



jleiser@bizjournals.com | 813.342.2468

http://tampabay.bizjournals.com/tampabay/stories/2008/08/25/story4.html

The bizjournal made the whole article avaliable now, so the bolded is the added part.

thats good news

hopefully this will encourage more projects such as The Edge to start.

The Edge and The Grand Bohemian both need to get built. That would be way cool.

^^I agree!!

the edge project is dead. It is now the site of twin 30story senior apartment towers.

I saw an ad for the Grand Bohemian in a magazine, just last week, and the ad is still projecting a 2010 competion date.

Some October 08' pics are up.

http://www.signaturestpete.com/construction.php#

Z Grille is now open at Signature(street level in the lofts building). Z is a large space with lots of tables. The space is very sparse with trendy retro 60's look to the restaurant. The foods was very good yet pricey.

November pics:

http://www.signaturestpete.com/images/construction/Signature%20High%20Res%20017_02.jpg

http://www.signaturestpete.com/images/construction/Signature%20High%20Res%20090_04.jpg

http://www.signaturestpete.com/images/construction/Signature%20High%20Res%20084_03.jpg

http://www.signaturestpete.com/images/construction/11.03.2008%20038.jpg

http://www.signaturestpete.com/images/construction/Signature%20High%20Res%20005_01.jpg

http://www.signaturestpete.com/images/construction/Tower%20Photos%2011.20.08%20007.jpg

http://www.signaturestpete.com/images/construction/Tower%20Photos%2011.20.08%20012.jpg

http://www.signaturestpete.com/images/construction/Tower%20Photos%2011.20.08%20032.jpg

http://www.signaturestpete.com/images/construction/Tower%20Photos%2011.20.08%20021.jpg

http://www.signaturestpete.com/images/construction/Tower%20Photos%2011.20.08%20031.jpg

http://www.signaturestpete.com/construction.php#

Ha... I was just looking at this month's spread late last night...

Easily the nicest looking condo in the region right now... I'm sure Ovation will exceed it in terms of luxury, but probably not in style.

Ha... I was just looking at this month's spread late last night...

Easily the nicest looking condo in the region right now... I'm sure Ovation will exceed it in terms of luxury, but probably not in style.
X2!! It is the nicest piece of new construction built in the entire bay area if not the west coast of Florida.

We need more projects like this one. This is certainly easy on the eyes. Now if we could just get something special like this in Tampa...

WOW! This is a very superb tower. I have to agree, probably the best project on the west coast in a while. And the units sweep me off my feet. That's the kind of unit I want, nothing over the top, but posh at the same time. And I'm a shower guy, but I wouldn't mind taking a bath in that tub.

Designwise its outstanding, nothing in the area can touch it. I especially like the way they treated the lower floors. They looked after them as much as the rest of the tower, something that usually doesn't happen. Usually, its precast panels and parking decks. The architecture team did a fantastic job.

Anyone know anything about the waterwall? Driving by, it looks like it is under construction. I thought it was going to be as wide as the space there on the side of the parking garage.

Love, love, love the fact that Signature has been selling and commanding high prices even as the rest of the market tanks. Design, people, design sells high-end things. I think in the bubble some stuff sold simply because they put a high price tag on it--all cache, no value. This is a genuinely beautiful structure, not some slapdash piece of crap with a coat of fresh paint and some granite countertops that some former law-school-dropout-used-car-salesman is calling "luxury."
Let us pray the message sinks in: good design still sells.

Friday, February 6, 2009 | Modified: Monday, February 9, 2009, 1:06pm
Luxury doesn’t preclude discounts at Signature Place
Tampa Bay Business Journal - by Michael Hinman Staff Writer

ST. PETERSBURG — Rising 36 stories above the St. Petersburg skyline, Signature Place is the final relic of a housing boom now becoming a fading memory.

As just weeks remain before the $170 million tower welcomes its first residents, Gulf Atlantic Communities Inc. is offering buyers “significant” reductions on pre-construction prices, a bid some observers believe is a consequence of unfriendly appraisals.

But its nothing more than recognizing value loss in the market and giving buyers a fair deal, said developer Joel Cantor.

“We don’t have our head in the sand,” Cantor said. “We realize people would like to get a discount and readjust to the market. We also want to compensate people for putting their money up almost three years ago. They should be rewarded.”

The building was constructed at a cost of $238 a square foot. Units sold pre-construction between $299,000 and $3.2 million.

Reward or survival?

Cantor is working with Wells Fargo, which is handling many of the mortgages for the tower’s 200 buyers, to provide a “significant” reduction in price. While such a discount might be attributable to lower appraisals, Cantor believes appraisals so far at Signature Place have been higher than expected.

“The market has gone down around the country, but St. Petersburg has held up,” he said.

But “gone down” doesn’t even begin to describe the market, said T. Sean Lance, managing director for NAI Tampa Bay.

New home sales nationally fell to the lowest level since 1963 in December, according to the U.S. Census Bureau, with the sales pace at 45 percent of what it was at the end of 2007.

“If you say ‘condo,’ ‘Florida’ and ‘new construction,’ those are real big buzzwords that are going to raise a lot of eyebrows,” Lance said. “The condo units that are being underwritten now have lenders looking at not just the regular things but also who owns the building, how many people actually live there and the health of the homeowners association.”

If appraisals don’t meet pre-construction prices, buyers really have only three choices, according to attorney Henry Sorensen: Convince the developer to lower the price, walk away from their deposit or cough up the difference in cash.

“Every condo developer is discounting prices because of this, although none of them would ever admit it,” said Sorensen, who represents clients involved in contract disputes over condo sales. “The buyer’s only alternatives are to walk away from a deposit or buy a unit that is probably worth tens of thousands of dollars less than the contract price. It could be the difference of being down $50,000 now or $150,000 down the road.”
Buyers in sight

Many of those buyers are choosing to walk away, while others are suing to rescind their sales contracts and get their deposits back. Last August, Cantor told the Tampa Bay Business Journal he had no cancellations on Signature Place.

Since then, three buyers have sued to get out of their contracts. One has settled, and two are still pending.

“We’ve had hardly any dropouts, which is unheard of with any project,” Cantor said. “Only six of our existing buyers need to sell the home they live in first, and with purchase prices over $600,000, there isn’t much room for speculators.”

But the real test, Sorensen said, is when it’s time to close.

Even buyers who may have been intent on paying full price and moving in three years ago may not be open to it now. Those who are still packing their bags to move in could end up needing to hop some obstacles laid out by banks in the tightened credit climate to make it happen.

The fact they have a great location and a beautiful project helps, but it is “only going to carry it so far,” NAI’s Lance said. “At some point, reality has to be faced where people aren’t qualifying for mortgages, units aren’t appraising where they’re supposed to be and measures are going to have to be taken to come up with other solutions.

“The next 60 to 90 days are going to be telling.”

mhinman@bizjournals.com | 813.342.2477

http://tampabay.bizjournals.com/tampabay/stories/2009/02/09/story1.html?b=1234155600^1773867

shouldn't the title be changed from "Topped out" to completed?

Anyone know anything about the waterwall? Driving by, it looks like it is under construction. I thought it was going to be as wide as the space there on the side of the parking garage.

The waterwall is to be completed by the end of Feb 09'. The designers out of Los Angeles...Fluidity Design Associates tell me it will be the largest man made water feature ever constructed. My vision for the project was to cover the parking garage from at least 3 sides while not placing it under the building. Therefore, I though a water feature falling into the park would do the trick. However, the height and realities of the engineering took a whole lot more work and $ than I envisioned...of course. Joel Cantor- Signature Place Developer/Owner

It's great to see the best project in the bay area rise.[/QUOTE]

I appreciate all the kind words from you guys. I visited the project yesterday and it really is looking stunning. The lobby will be like no other. We installed a 30 foot high Onyx stone back lit with LED flat panels. Onyx is a semi-precious stone we found in Austraila. My vision has finally become reality. Creating good architecture can be a lot of fun, but getting it built requires payment in blood, sweat, and fits of anger and a huge dose of determination. I'd be glad to put you on our opening party invite and show you all around..sometime in April. Simply email Debbie Newman at debbienewman@signaturestpete.com.

Joel Cantor
Signatrue Place Developer/Owner

Thanks for posting Joel, and congratulations on the building

Wow a tour would be great Joel. Maybe it would actually get people on these forums to come out for a forum meet this time. ;) Thank you for giving St. Pete such a great design that had so much thought put into it.

Do you think we can get a similar project over here in Tampa? Maybe when the market comes back? ;) :lol:

That's awesome! I'm studying to be an architect myself, and I went on a tour of Element a few months ago it was quite exciting.

That's awesome! I'm studying to be an architect myself, and I went on a tour of Element a few months ago it was quite exciting.

Weeks. It hasn't been that long...

Weeks. It hasn't been that long...

I went in December, which was 2 months ago! 10 weeksish

Signature is a great building, definitely the best skyscraper built in Tampa Bay if not the entire west coast. The building is a great addition to the skyline and now Tampa has competition.

Nice building. The fact that it is so unusual for this area is indicative of the level of architecture we have.

Nice building. The fact that it is so unusual for this area is indicative of the level of architecture we have.

I know, right? :lol:

Yup, this is a nice one.

Hi all
What a great addition to St! Pete! Nice pictures!

Am a potential owner at signature and am thinking of walking away. Obviously very interested in what the price reductions come in at. What are others thinking?

Am a potential owner at signature and am thinking of walking away. Obviously very interested in what the price reductions come in at. What are others thinking?

I own several rental properties around St.Pete and in N.M. My personal home is in Pasadena (St.Pete), I am a big bear in this market, so, I may not have the best advice. It will be interesting to see how they discount those units, If I were owner occupying them, I would use the Ovations and the previous closings as my indicator. On a personal note, price be damned and I need a new dwelling for my family, I am a Signature shopper, that is a delicious looking bldg.......... good luck what ever you do....

seems like the comps from park shore and 400 beach would call for price reductions of 25-35% and i can't believe they'd do that. Looking grimmer the more info i get

The main thing going for Signature is the architecture itself. Lots of buildings down there have good locations, but with Signature its all about living in one of the best looking / well designed buildings in the state. Most cities have only one or two such landmark buildings, Atlanta basically has The Sovereign, so getting in one is a priority. I think Ovation and the rest will always be a draw for retirees from the midwest, but living in Signature makes a statement and most likely will skew younger. It's like living in one of Richard Meier's buildings, a big deal for design buffs. But then again, its not like the bay area is a hotbed of design....

^^Yea I think the fact the bay area lacks highrises and the ones we do have are so average and boring it doesn't really matter, that is what makes Signature so great. Still too bad The Edge wasn't built.

totally agree with how great the signature place is/will be. That's why we selected it to begin with. It still has to be a good value all things considered.

Hey all

Drove by Signature the other day. The waterwall is now working. It's beautiful! Of course it will be a lot nicer once the giant bamboo grows up more on both sides.

Reality reprices high-end St. Petersburg waterfront condos

St. Pete Times

By Robert Trigaux, Times Business Columnist
In Print: Sunday, April 12, 2009

http://www.tampabay.com/news/business/realestate/article991358.ece

On a clear day, as Friday surely was, you can see forever from the 36th floor of the nearly complete Signature Place condo project in downtown St. Petersburg.

You know the one. The tall, thin one near Al Lang Field, the one a hair's breadth shorter than the nearby Bank of America tower. The one that, far more than any other condo in downtown's swanky waterfront row, stops locals and visitors alike to gawk and wonder. The one, for those lucky enough to get the tour, with about a zillion sweeping water views. The one that ranks among the most interesting and sophisticated residential projects ever to rise in the Tampa Bay area.

Well, all those views just went on sale. Deep discount, in fact.

Project developer Cantor Development late last week e-mailed buyers long under contract to buy at Signature Place that it was reducing the price of all its units by a whopping 25 percent. On a $700,000 condo, an average contract price for a Signature Place unit, that's $175,000 off.

That's not chump change.

Not that there was much choice in a housing market laid low by overbuilding and amid rising grumbling from some buyers stuck with pre-recession prices and, for many others, the difficulty of first selling their existing homes. Initially, Tampa developer Joel Cantor managed to resist dropping Signature Place prices because of the condo's exclusivity and landmark architectural design — especially after the ill-fated, upscale Trump Tower Tampa failed to materialize.

But is a 25 percent discount enough to rally Signature Place in this brutal real estate market? Gene Ormond, who signed a contract in June 2006 to buy a condo, calls the price drop "too little, too late" and plans to walk away from the project and his contract.

But he still wants the project to be a winner. "Signature Place needs to succeed for downtown St. Petersburg," he says.

A more enthusiastic buyer, Joe Pugliano, who own the UPS store across the street from Signature Place, can't wait to move in. A 25 percent price cut is just icing on the cake.

Pugliano's condo is on the sixth floor, expressly chosen to be on the same level as Signature Place's exercise room and outdoor pool.

"Maybe I'll buy two now," he jokes.

So there's the rub. How many buyers in this recession will commit and close on a Signature Place condo — discount and all — by Cantor's June 30 deadline?

"I recognized almost a year ago that the economy was running into trouble," Cantor says. He describes how Fifth Third Bank and other lenders financing the condo project were "shocked" when he suggested discounting Signature units by 25 percent.

"After 156 telephone calls, 32 letters, loads of e-mails and 17 meetings, the banks, to their credit, finally relented and agreed to my request," Cantor says.

That means both the banks and Cantor's development firm will absorb the financial hit of the big discount.

Signature, clearly Cantor's pride and joy among all of his 45 projects, cost $170 million to build. "No building will be built like this in Pinellas County in the next 100 years," he boasts, because it costs too much and requires years of planning.

His message to Signature's buyers: "You are now paying significantly less that what it cost to build the project."

That may be true, but it still is no guarantee that buyers are investing wisely amid Florida's serious condo glut.

Bill West, Cantor's vice president of development and the principal in charge of Signature Place, sent an e-mail Thursday that acknowledged condo buyers' frustrations.

The 25 percent price cut, West told Signature Place buyers, "required significant compromising and financial concessions by both the developer and the lenders in an effort to provide this unprecedented discount."

Lawyers representing some Signature Place clients seeking an exit from their original contracts think the 25 percent price cut is a healthy starting point, but not necessarily a final figure.

Breaking — or protecting — real estate contracts set at pre-recession prices has become a big growth business for area lawyers, says Howard Ross of the Battaglia, Ross, Dicus & Wein law firm in St. Petersburg.

On one level, Signature Place is simply facing the inevitable in a real estate bubble that has popped from absurd highs back in 2006 and is settling at the more realistic ranges of 2003.

On another level, Signature Place represents the boldest high-end condo development perhaps in Tampa Bay history. Its struggle to reprice and satisfy condo buyers and its bankers is a painful reminder that no property is invulnerable to this recession.

However Signature Place is resolved, you have to admire the project. The units I saw Friday varied in size — and that's one of the great features.

Many downtown waterfront condos are heavy on big units and $1 million-plus price tags. Signature Place boasts 244 residential condos, from high-end whoppers to one-bedroom units under 1,000 square feet and priced — now at 25 percent off — just over $300,000.

That's not for everybody's budget. But nobody said Signature Place, with all those water views, was ever designed as an affordable housing project.

Robert Trigaux can be reached at trigaux@sptimes.com.

Alright guys, the past week or so I've been gone on a trip and one of the stops was one night at the Vinoy in St. Pete. While there I visited Signature, took a short tour and got just a few pictures. First, two sales related stats I've learned:

About 50 units have closed
About 120 units have sold (including the ones that have closed)

Now pictures:

Exterior
http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2003.jpg

http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2004.jpg

Pool deck (that's fake grass)
http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2005.jpg

http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2006.jpg

We went inside a 2/2 unit on the 18th floor facing North, costing $500,000. The tour guide kept stressing that there are about 20 different floor plans all the way up to a 3 story penthhouse with elevators in the unit and three story tall, floor to ceiling windows.
http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2007.jpg

http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2008.jpg

http://i390.photobucket.com/albums/oo343/JordanPhoto_album/StPete7-09/HPIM2009.jpg

That's all I got of Signature. We were a little rushed and of course, aren't serious in buying a unit.

Now Impressions and features of the project:

The units are in the same style of Skypoint and Element. Modern, elongated units with as much space facing the windows as possible. Signature features floor to ceiling windows. The pool deck also features more style then the Novare projects, and is quite a bit larger then the Novare pool areas (to be fair, the Novare projects have two decks but I like one bigger deck more) including an Infinity Edge pool and the little covered seats in the above pictures. The pool deck is very open and not as lush or shaded as the Place's pool deck.

Like the Novare projects, Signature features a small theatre and spaces to be rented out for parties. The tour guide said most of the big holidays have already been rented out.

Overall, it's a nice looking project, but it cost a bit more then the Novare projects and I'm not sure that other then the better exterior design and better immediate neighborhood for now, there's that much more to it.

If anyone has questions, feel free to ask. :yes:

It's a very nice looking building. Thanks for sharing the info and pics.

^No problem. :)

Wish I could've gotten some more pictures of the interior, but I was pretty rushed...

That's pretty cool, signature is the best!

High-stakes flaps for high-rise


Published Friday, August 21, 2009

http://www.tampabay.com/news/business/realestate/high-stakes-battles-for-st-petersburg-high-rise-signature-place/1029883

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Signature Place, the $170 million sail-shaped condo tower that has reshaped St. Petersburg's silhouette, has steered into something of a gale.

Developer Joel Cantor, clipped by the recession just as he topped off the tower's 36 stories last year, has spent the summer grappling with a rumor mill that's determined to sweep him into the loser's column. The project's a bust. Buyers are backing down. Surly bankers have pushed Cantor aside. Or so the naysayers have it.

Cantor continues to reassure such doom-and-gloomers that their fears are misplaced. In what Cantor dubbed a "haircut sharing agreement," his lenders, lead by Fifth Third Bank, agreed to slash condo prices 25 percent last spring.

"I basically gave away the lion's share of my profit. You won't see my jet parked at the airport," Cantor says.

"I hope to recapture my investment money I put in. I think it's best to mark down my profit and live for another day."

The project at First Avenue S and Second Street is considered one of the most innovative in the region. Most of the 220 units in the tower command a view of the bay, thanks to the building's slim profile.

And with an average price below $500,000, it stands out from the new buildings with million-dollar-plus units that dominate the St. Petersburg waterfront.

Cantor has closed the sale of 56 condos in six weeks, numbers to die for in the Tampa Bay area's miserable real estate climate. But Cantor, a normally effervescent entrepreneur, still has problems.

Fifty-five of his 177 buyers — people who laid down deposits over the past three years — will probably walk away from their contracts. Cantor's heard every excuse, some he deems legitimate, some not: I need 40 percent off. Why did you shrink the size of one of the spas? The toilet paper holder's on the right side and I'm a lefty.

"They just think I'm sugar daddy man," Cantor said in exasperation as he deplaned last week from a business meeting in Washington, D.C.

He's referring specifically to a buyer who demanded a 43 percent discount or else he'd hightail it.

"When you give people a deal, they think you're weak," he said. "You give them a hand, and they want your arm."

Cantor has taken a tough stand against defectors. He's loath to refund the 20 percent deposits for those unable or unwilling to close.

He calls some of his hardest bargainers "rogue buyers" who try to "weasel out" of contracts. His reluctance to deal in some cases has provoked a handful of lawsuits, three of which are still outstanding.

St. Petersburg attorney David Bacon, who has represented several Signature Place plaintiffs, said disputes hinge on whether alterations made to the project, including changing the size of a swimming pool and spa, allow buyers to rescind contracts.

"Buyers truly believe, if they were to close, they're not receiving the same benefit that they bargained for many months ago," Bacon said.

Job loss, shriveled investments and general economic malaise have clearly wreaked havoc on buyers' ability to pay for units they contracted for several years ago.

"The momentum has definitely slowed down because people are having trouble getting financing," said Bill West, Signature's vice president of development. "If we're patient, we're going to sell this thing out."

Patton Hunter, a downtown St. Petersburg artist and painter, initially signed up for a two-bedroom unit, but realized too late that she couldn't afford it. Signature fit her into a less expensive one-bedroom condo instead, and she closed 10 days ago.

"When they offered the downsizing, it felt like a door opening. It was a possibility to get out without spending so much money," Hunter said.

In a sign of the times, Hunter won't live in her unit, but plans to list it immediately on the resale market for $273,000, $2,000 less than she paid.

On the other hand, Mitch Permuy, an electrical contractor whose company worked on Signature Place, bought 3 units two weeks ago for his three older children. Price: $1.5 million.

"It's a statement building down there," Permuy said. "Even if they're impacted a little now, the value of the condos is going to start climbing again."

One of the most persistent rumors dogging the project is that bankers have tossed Cantor aside and now have the money men running the operation.

That's false, Cantor says. His job was to finish the building on time and on budget, which he did.

Now he'll spend the next 1 1/2 years trying to sell out a building he had hoped would already be full of happy residents.

"We had to dial it back," Cantor said. "You can't hide from the economy, no matter how smart you are."

Times staff writer Robert Trigaux contributed to this report.

Father sues Signature Place developer "to get bank to respond"
By James Thorner, Times Staff Writer
In Print: Thursday, September 17, 2009

Joel Cantor, developer of St. Petersburg's Signature Place condo tower, has juggled a handful of lawsuits from disgruntled buyers. But the most recent unhappy purchaser was a doozy: His own father, Irwin Cantor. The elder Cantor sued his son's company in late August, demanding to downsize from a $3.26 million penthouse to something more affordable. Joel Cantor said his father was working an "angle" so that Fifth Third Bank, the tower's main financier, would agree to the contract change. In fact, the younger Cantor said he threw his weight behind his father's request, and both sides recently settled. Cantor senior will close this month on a humbler 2-bedroom unit in the tower at First Avenue S. and Second Street. "He wasn't mad at me," Joel Cantor said. "He was just trying to get the bank to respond." The 36-story building has completed sales on about 65 of its 220 units.

[Last modified: Sep 22, 2009 09:30 AM]

http://www.tampabay.com/news/business/realestate/father-sues-signature-place-developer-quotto-get-bank-to-respondquot/1036825

I thought that they were fairly close to being filled awhile back? :dunno:

^So did everyone else at one point or another.

I wish a had a couple hundred K laying around, Signature is going up for auction at crazy prices (bidding starts at $135k for a 859 sq ft 1 bedroom).

http://tampabay.com/news/business/realestate/signature-place-luxury-condos-will-be-put-on-the-auction-block/1072007

ST. PETERSBURG — Developer Joel Cantor proclaims it his "jihad mission" to sell out his Signature Place condominium tower, the 36-story skyscraper that strikes a sail-shaped profile on the St. Petersburg waterfront.

But the latest plan to light a fire under condo sales in the high-rise is giving even Cantor the jitters. His lender, Fifth Third Bank, is putting 35 units up for auction next month at starting prices that are two-thirds less than what Cantor had been asking.

Cantor is trying to put a happy face on a hurry-up sales strategy forced by the most hostile real estate climate in decades. He's among a select few Florida condo developers still standing. But he clearly thinks Fifth Third is jumping the gun.

Since the first Signature Place residents moved in last summer, he has closed on the sale of 100 of 242 units. Given the rest of this year, he could sell out 80 percent of the glass tower at First Avenue S and Second Street, he said.

"We really didn't have a choice," Cantor said of the auction scheduled for 1 p.m. March 7 at the Hilton St. Petersburg. "I'm going to look like I've gone under. It's a good idea but it's not the proper time."

Jon Gollinger, president of auctioneer Accelerated Marketing Partners, insists the auction will benefit Cantor by re-calibrating real estate prices and uniting buyers and sellers.

"This is a campaign to establish value," Gollinger said Tuesday as he flew to St. Petersburg to help organize the sale. "How long can you sit there and fight the market? It becomes an act of folly after a while to be so sanctimonious and self-righteous to force the market to go to your number. The consumer rules."

But folks who previously bought units worry that the auction will set a benchmark far below what they paid.

Barry Dingman paid $642,900 in June for a two-story unit on the eighth and ninth floors. The original 2006 price, before the housing market collapse, was $989,000. Cantor discounted units 35 percent last year in what he called a "pain-sharing agreement" with the bank.

"An auction sounds like an act of desperation. It seems unnecessary to me. This building creates a buzz all its own," Dingman said.

Signature Place condo owner Matt Bryant sees some value in speeding up sales. As treasurer of the building's homeowners association, he would like to see the tower full.

"No one wants to see their values go down," said Bryant, who paid $491,000 for a unit in June. "But we also want to see people paying HOA fees."

Initial bidding will range from $135,000 for a 859-square-foot, one-bedroom condo to $430,000 for a 2,400-square-foot, three-bedroom condo. The auction is absolute: If a bidder meets the minimum asking price, the sale sticks.

"It's wildly below market value. It's a starting point, hopefully. But who knows? That may be all the market will pay,'' Gollinger said.

One prospective bidder has already stated his intentions: Cantor himself. If it looks as though units will go rock bottom, he wants a piece of the action. "I'm going to bid myself and rent it out," Cantor said.

Cantor's immediate concern is how to deal with 10 pending condo sales. If the auction sets prices too low, he'll be forced to lower prices on the contracts.

Not that Cantor is turning a profit. Not anymore. He has been charging about $300 per square foot on units that cost him $417 per square foot to build. Auction prices will probably be lower.

"This auction is not my idea," he said. "We're for it, of course. But I feel for my customers."

The biggest problem they had wasn't necessarily the pricing, it was that there is such a small market for contemporary design in the Bay area. Between 1989 and 2007, when I move to Atlanta, I was directly involved in over 100 new custom home projects, guess how many could remotely be considered contemporary in design? About 4 in total. We did lots of Med. derivative, lots of Key West derivative, and lots of "traditional" derivative. So when you have a market that isn't really into it, and its priced at a premium, you get slow sales. Its still the best looking building in the area though.

The biggest problem they had wasn't necessarily the pricing, it was that there is such a small market for contemporary design in the Bay area. Between 1989 and 2007, when I move to Atlanta, I was directly involved in over 100 new custom home projects, guess how many could remotely be considered contemporary in design? About 4 in total. We did lots of Med. derivative, lots of Key West derivative, and lots of "traditional" derivative. So when you have a market that isn't really into it, and its priced at a premium, you get slow sales. Its still the best looking building in the area though.
That is one problem but I don't think its the main problem. You are right though it seems the we have a lot of condos with bland typical designs but not many contemporary ones.

The auction at Signature Place was held today. I was wondering if anyone has any information as to how many of the units up for auction sold and at what prices?

It went really well.

http://www.tampabay.com/news/business/bargain-hunters-snap-up-st-petersburgs-signature-place-condos-at-auction/1078149

Bargain hunters snap up St. Petersburg's Signature Place condos at auction, exceeding sales expectations

Bridget Donovan had little interest in owning a unit in St. Petersburg's Signature Place condo tower.

But half a million dollars and two celebratory glasses of red wine later, Donovan and her husband, George, owned a 22nd story, 1,829-square-foot condo overlooking Tampa Bay.

They were among nearly 500 people who jammed a hotel ballroom Sunday as the 36-story sail-shaped skyscraper got a turn on the auction block — giving up 51 units at 25 to 50 percent discounts and exceeding the developer's sales expectations.

"Fifty-one units!" gushed auction company president Jon Gollinger. "Who said Florida's in trouble?"

The auctioneers, Boston's Accelerated Marketing Partners, ran a slickly efficient operation overseen by men in matching dark blazers, white shirts and red ties.

It took less than two hours to dispose of units ranging from a $199,000 lower loft to a $742,000 condo on the 31st floor.

Young women in business skirts escorted winners into a "closing room" to seal deals with bubbling champagne flutes. Platters of shrimp cocktail, cubed cheeses and fresh fruit served as appetizers for the main action in the auction room.

Donovan likened herself to a crack addict after she breached her not-a-penny-more maximum price by $100,000.

"I didn't know I could be led so easily,'' the Fort Lauderdale resident said. "It wasn't like we wanted the unit. But we didn't want the others to have it."

Signature Place financier Fifth Third Bank arranged the auction, held at the St. Petersburg Hilton Bayfront, to quicken sales in the worst real estate environment in decades.

After a price-chopping spree last year, developer Joel Cantor managed to sell 100 of the 242 units, but it wasn't fast enough for his nervous lenders.

The auction surpassed Cantor's hopes. The results matched the bottom-feeding deals he had recently given buyers and, in some cases, exceeded Cantor's prices.

He enlisted a proxy to bid on a few units himself, but lost out.

"An auction was a strange way to do it, but it worked," said Cantor, who attended his son's tennis tournament in Tampa instead of the auction. "I was afraid people would perceive it as a liquidation, like we were going out of business."

Even after the auction ended, Gollinger's staff continued to move units at the recalibrated prices. Cantor said at least 20 more units sold post-auction, leaving the building about 70 percent sold out.

More than 3,000 potential bidders toured the skyscraper in the month before the auction. Hundreds ended up placing $7,500 deposits for the right to raise a bidder's paddle.

After buying a 1,447-square-foot unit on the 14th floor for $326,000, Agnes Dacey whooped for joy down the hotel corridor.

She and her husband, Robert, sold their house in Lutz in November. Now that the kids had moved out, the couple wanted to live in a downtown setting.

"We hadn't even thought of St. Pete. But we're thrilled. We've got to go call the kids," Agnes Dacey said.

Some people went away disappointed after the bidding grew too hot. Semiretired businessman Eric Jones flew down from Wisconsin, hoping to snag Signature Place's priciest auction offering, a 31st-floor unit with a 2,000-square-foot terrace that Cantor earlier had listed for more than $1.1 million.

The bidding soared above Jones' half-million mark and ended at $742,000.

"It would have been my second home," Jones said as he packed up his paddle and auction booklet. "It's back to the beaches."

Great news! I don't want to jump on it too much, but hopefully this does say that the economy is somewhat rebounding. Even though the great deals did lure many of them there, my guess is that some of them knew that a auction would come sooner than later and waited until then. Espicially when it comes down to that 500 people had interest in living in St. Petersburg. And with Ovation just blocks away, hopefully some of the people that didn't get a chance with Signature can give a look to Ovation.

Great news! I don't want to jump on it too much, but hopefully this does say that the economy is somewhat rebounding. Even though the great deals did lure many of them there, my guess is that some of them knew that a auction would come sooner than later and waited until then. Espicially when it comes down to that 500 people had interest in living in St. Petersburg. And with Ovation just blocks away, hopefully some of the people that didn't get a chance with Signature can give a look to Ovation.

Ovation has great units, a great view, and great amenities.
The only problem is the $1 million starting price.

Yeah, Ovation is a beauty inside and out... Just like we all knew it would be. :)

"Fifty-one units!" gushed auction company president Jon Gollinger. "Who said Florida's in trouble?"

Really??

I was kind of thinking that if the market wasn't in trouble it would have never gone to auction in the first place