SALTAIRE II

Kolter Group closed on the Hilton Bayfront St. Petersburg hotel at 333 First St SE for $96 million in March 2026 — the most significant land acquisition in downtown St. Pete history. The current 15-story 1970s-era hotel will be demolished and replaced with a luxury condo tower taller than the existing structure to maximize water views. Kolter is seeking a hospitality brand partnership for the project, suggesting a potential branded residence (following the Four Seasons pattern). Regional President Brian Van Slyke confirmed plans for "high-end amenities and service levels." Site plan submission planned for later in 2026. Unit count, height, and pricing not yet disclosed. The bayfront location at the foot of the St. Pete Pier is arguably the most valuable waterfront site in downtown St. Petersburg.