REFLECTION

Proof that demand runs deep below $900/SF. HP Capital and DeNunzio's 88-unit mid-rise is 92% sold at $727/SF — roughly half the Waldorf's ask — with only 7 developer units remaining on floors 15-17. The absorption story here is not about luxury; it is about depth. Reflection proved downtown St. Petersburg can move attainable product at velocity, anchoring the bottom of the price ladder and setting the floor for every Tier 3 entrant.