According to the U.S. Census Bureau, the Tampa Bay area saw a 21% increase in multifamily building permits last year; a possible explanation for why new construction seems to be on every block in downtown St. Petersburg.
Power Design, Inc., a national electrical contractor headquartered in St. Petersburg, is experiencing the community’s growth and development first hand. With 6 projects currently underway in Tampa Bay, Power Design was recently awarded its 7th; ONE St. Petersburg. The 41-story high rise in the heart of downtown will boast 253 luxury condominium units in addition to hotel and retail space. “ONE is a highly anticipated project right in our backyard that we are proud to be part of,” said Power Design’s Regional Vice President, Carter Hastings. “We value our partnership with Kolter and Kast Construction and look forward to working together more.”
Slated for completion in 2018, ONE is also anticipated to boost employment and generate millions in sales tax. “Not only will ONE St. Petersburg enhance our thriving downtown, but the jobs and taxes it will create will only increase the financial health of our city,” said Rick Kriseman, Mayor of St. Petersburg. Power Design’s most recent local project award comes only a short time before its own construction project, a 47,000-square-foot campus expansion, is completed.
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