The Kolter Group and the Ally Capital Group are planning to demolish the Fit2Run and Exchange Hotel in St. Petersburg and redevelop the sites into a new hotel and residential tower.

Under the entities KT St Pete Runner LLC and Ally MW LLC, the groups filed plans for a mixed-use project encompassing a 35-story apartment complex and an adjacent 13-story hotel. Ally Capital Group, headed by Andrew Wright of Franklin Street, also filed a demolition request with the city to demolish the Exchange Hotel.

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Fit2Run and Exchange Hotel sites to be redeveloped – St.Pete Catalyst (stpetecatalyst.com)