Brass Enterprises

The Hermitage Building Exterior

THE HERMITAGE

Location: St. Petersburg, Florida
Suite Count: 348
Square Footage: 311,460 + 1,892 retail
Website: www.hermitageluxuryapts.com
The Hermitage is a brand-new trophy asset in the heart of downtown St. Petersburg/Tampa, Florida. Built in 2017, The Hermitage is a highly-amenitized 348-unit, condo-quality midrise apartment community.

unparalleled luxury

Borrowing cues from the world’s second-largest art museum, The Hermitage features an art gallery in its posh, contemporary designed lobby. The Hermitage is crowned with a skydeck, a state-of-the-art fitness center, an opulent library, an outdoor kitchen, and a resort-style pool and hot tub. Overlooking a majestic courtyard, the 10-foot ceiling suites are adorned with floor-to-ceiling windows. Premium suites are fashioned with stained concrete floors. The Hermitage is home to tenants with an average household income of $180,000.00 per annum.

Prime Location

The Hermitage is situated in a unique location, with exceptional walkability to office buildings, restaurants, entertainment venues, museums, and cultural attractions, as well as abundant green space, including the third-largest waterfront park system in North America. The Hermitage has a Walk Score of 93 and a Bike Score of 94, with a bike trail bordering the property. Referred to by residents as The Pantry, The Hermitage is just across from a new Publix, which caters to organic food enthusiasts. 

Job Growth

The demand for apartments and rent growth will strengthen in the Tampa Bay/St. Petersburg metro as companies and institutions continue to expand their payrolls this year. Employers are expected to add 30,100 new jobs in 2019, an annual gain of 2.2%, nearly as significant as the growth that occurred in 2018. Construction on the 519-room JW Marriott Hotel is complete, anchoring the highly anticipated Water Street Tampa development. Hiring for the hotel chain is expected to drive job growth in the leisure and hospitality sector. 

About Tampa

Tampa made the top 10 list for the first time in the report’s 40-year history. Investors are drawn to Tampa/St. Petersburg for the cities’ demographic growth, friendly business climate, and attractive cost structure. The state of Florida offers a diversity of markets for different investors. Tampa Bay/St. Petersburg has been steadily gaining the interest of institutional investors and has seen increased interest during the economic recovery. Tampa Bay/St. Petersburg has benefited from strong annual net migration over the past five years. Seven of the Florida markets are expecting population growth rates that are at least 85 percent higher than the national average.