The Calla Terrace project was borne out of an unfilled need for market rate, yet affordable housing for young Millennials in downtown St. Petersburg, Florida. The key was identifying well-located but inexpensive land, and through the entitlement process, creating 15 lots where 3 lots originally existed. Then by designing an entry-level 2BR, 2BA loft-style townhouse, Versaggi Companies combined its market knowledge of the growing housing demand and located the perfect site – to create a project that was sold out before the first building of 3 was completed. Located along one of its downtown urban corridors, Calla Terrace townhomes used finishes that appealed to the younger, pioneer type buyer, including open floor plans with eye-catching concrete stained floors, high ceilings, exposed metal AC ductwork, and oversized windows. Stainless appliances and “industrial chic” finishes were included as standard. This close-knit town home community of 15 individual units was completely pre-sold, prior to completion at the end of 2005. This pioneering effort was the catalyst to redeveloping one of St. Petersburg’s up and coming neighborhoods – The Edge District.