PNC Bank will open a new 3,000-square-foot branch inside The Residences at 400 Central, the mixed-use tower rising along Central Avenue in St. Petersburg.
The announcement marks the third major commercial tenant to join the development and signals continued growth in the downtown business district.
In this article, we cover what happened, why it matters to Tampa Bay and what readers should expect in the coming months.
What happened
Red Apple Group confirmed that PNC Bank signed a lease to open a full-service branch inside the 46-story building at 400 Central. Jim Kovacs and Tyler Peterson of the Kovacs Retail Team at Colliers represented the bank. The new space will bring national financial services to the center of downtown as the project nears completion.
John Catsimatidis Sr., founder of Red Apple Group, said the partnership continues a historic tie between the site and local banking.
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PNC executives said the new location reflects the bank’s confidence in the region. Jeff Martinez, head of branch banking, said the branch will support residents, businesses and visitors as the city grows.
Chad Loar, PNC regional president for West and Central Florida, said the opening shows PNC’s commitment to the area. “This milestone underscores our deep connection to the St. Pete community and our commitment to its continued growth,” he said.
The deal follows two earlier commercial leases at 400 Central. Dynasty Financial Partners signed for 45000 square feet of Class A office space for its global headquarters. Volta Wine and Provisions is committed to a 2000-square-foot wine shop and market along Central Avenue.
Why this matters
PNC’s expansion reinforces the strength of St. Petersburg’s urban core and reflects the region’s long-term corporate confidence. The bank plans to invest $2 billion nationwide by 2030 to open more than 300 new branches. About 22 of those will be in Tampa Bay, which would more than double its current presence.
For downtown St. Petersburg, the new branch:
- Brings a national financial institution into a fast-growing area
- Supports residents and businesses who need direct access to banking
- Signals that large companies see long-term value in the city’s density and development
- Strengthens the business ecosystem around Central Avenue
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For Red Apple Group, PNC’s arrival validates its vision for a mixed-use tower that blends residential, retail, and office space in one central location. With three major tenants already signed, the building is becoming an anchor for commercial activity in the district.
What you should know
Business owners and residents should be aware of several practical takeaways:
- PNC customers will have a new walk-in branch in the heart of downtown
- More financial services will enter the market as PNC expands across Tampa Bay
- Downtown workers will have increased access to banking and lending services
- Commercial tenants may see increased foot traffic and activity around Central Avenue once the branch opens
- Community groups and local partners can expect new engagement opportunities as PNC increases its presence
Companies located near 400 Central may want to explore partnership or sponsorship opportunities as PNC invests more resources in the area.
What’s Next
The Residences at 400 Central are nearing the start of their first phase of occupancy. The 46-story tower includes 301 luxury condominiums, retail space, restaurants, and Class A offices. The top floor Sky Observatory will offer the highest public view in St. Petersburg.
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Construction continues to move quickly. The first group of condo owners is expected to move in before the end of the year. More retail and office tenants are expected to be announced as build-outs continue along Central Avenue.
Takeaway
PNC Bank’s decision to open a branch at 400 Central marks another important step in downtown St. Petersburg’s growth.
The expansion strengthens the business environment around Central Avenue and signals strong confidence from national companies in the city’s future.
With three major tenants secured and residents preparing to move in, 400 Central is becoming one of the most significant mixed-use developments in Tampa Bay.