The Tampa Bay area could see its first Tempo by Hilton Hotel in Downtown St. Petersburg. An entity controlled by Delray Beach-based Kolter Group submitted site plan review documents for a new 14-story 192 key hotel. The hotel would be built on a 0.53-acre site at 232 and 256 2^nd Street North. The properties were purchased for a combined price of $7.5 million in late 2021.  232 2^nd Street N is currently a vacant lot used for parking. The parcel is 13,200 SF and sold for $2.4 million ($181/SF). 256 2^nd Street North Currently has a Fit2Run store on the parcel. The parcel has a land area of 9,973 SF and sold for $5.1 million with a land sale price of $511 per SF.

Kolter has a history of developing properties in St. Petersburg including ONE St. Petersburg, Hyatt Place in downtown St. Pete, and is currently amid construction on two luxury condominium towers Saltaire and Art House. The Tempo Hotel is planned to top out at 172 feet. There will be a ground floor lobby that fronts 2^nd Street and will be topped by three floors of parking containing 127 parking spaces. The fourth floor will have meeting space available. Floors 5 to 13 will be hotel rooms – with 192 rooms planned for the development. There is also a proposed rooftop bar and pool deck.