Mill Creek Announces Groundbreaking of Modera St. Petersburg

ST. PETERSBURG, Fla., Feb. 7, 2022 /PRNewswire/ -- Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced it has broken ground on Modera St. Petersburg, a luxury mixed-use apartment community near downtown St. Petersburg.

The 20-story, high-rise community, which will feature 383 apartment homes and 14,000 square feet of ground-floor retail space, will be located near Tropicana Field at the intersection of the Grand Central District, Edge District and Warehouse Arts District. First move-ins are anticipated for late 2023. 

"We're excited to get started on Modera St. Petersburg, which we believe will deliver a quintessential high-rise experience in a vibrant downtown locale," said Damon Kolb, managing director of development in North Florida for Mill Creek Residential. "St. Petersburg continues to be a desirable location due to its vast entertainment and employment options in a walkable and bike-friendly environment. We're eager to offer a best-in-class experience at this community and will continue to consider additional opportunities in the city."

Situated at 201 17th Street South, Modera St. Petersburg will sit at the epicenter of the city's arts-infused mix of craft breweries, art galleries, eclectic dining options and independent retail offerings. The community will also border the Pinellas Trail, a 47-mile bike trail that stretches north to Tarpon Springs. Additional local attractions include the Grand Prix of St. Petersburg, Salvador Dali Museum, Second Saturday ArtWalk and The James Museum of Western & Wildlife Art. Interstate 275, the gateway to Tampa, is also easily accessible from the community.

Modera St. Petersburg will offer one-, two- and three-bedroom homes with den layouts and penthouses available. Community amenities will include a club-quality fitness center, outdoor pool, rooftop lounge and terrace with expansive views of downtown and Tampa Bay, grilling area, outdoor dining, clubhouse, conference room, co-working spaces, common-area WiFi, game room, package lockers, onsite pet spa and secured garage parking with electric vehicle charging stations available. Residents will also have access to bike storage, additional storage options and mobile-app and key-fob entry with controlled guest-access technology.

Apartment interiors will include wood plank-style flooring, nine-foot ceilings, built-in shelves and desks in select homes, ceiling fans, private balconies, stainless steel appliances, quartz countertops, tile backsplashes, kitchen islands, USB ports, in-home washers and dryers, walk-in closets and central heating and air with programmable thermostats. Bathrooms will be delivered with tile surrounds, double vanities and linen closets.

Modera St. Petersburg is being developed in partnership between Mill Creek and CrossHarbor Capital Partners, marking their 10th community together. It also marks Mill Creek's second development in the city of St. Petersburg and fourth in the Tampa area.

"We are enthusiastic about Modera St. Petersburg and our continued partnership with Mill Creek Residential," said Brian Davis, vice president of CrossHarbor Capital Partners. "CrossHarbor looks forward to expanding our portfolio to the St. Petersburg market."

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2021, the company's portfolio is comprised of 111 communities representing over 30,500 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com. 

About CrossHarbor Capital Partners LLC
CrossHarbor Capital Partners LLC is a boutique Boston-based alternative investment management firm with nearly 30 years' experience investing in core-plus, value-add and opportunistic debt and equity commercial real estate transactions. CrossHarbor has invested in more than $21 billion of commercial real estate on behalf of a diversified and highly regarded community of endowments, foundations, public and corporate pension plans, financial institutions, family offices and sovereign entities.

Media Contact
Stephen Ursery
LinnellTaylor Marketing
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303.682.3945

SOURCE Mill Creek Residential