400 Central developer gives back, announces new project

The New York-based business mogul behind St. Petersburg's tallest tower brought some Thanksgiving cheer and early Christmas presents to local children Saturday. He also announced plans for a new development.

John Catsimatidis Sr., founder of the Red Apple Group , has built a supermarket, real estate, media, finance and energy production empire. The Greek immigrant has also remained true to his Harlem roots and often reminds underprivileged kids that they, too, can achieve the American dream.

Catsimatidis, developer of the Residences at 400 Central, and his wife, Margo, provided two dozen St. Petersburg Police Athletic League children with smartwatches, grocery gift cards for their families and words of encouragement Saturday. They also passed out medals following field games and pledged an additional $50,000 to the "We Are St. Pete" hurricane relief fund.

"These kids need confidence that you can grow up in a poor neighborhood and succeed," Catsimatidis told the Catalyst. "I believe we've got to help our inner-city kids. We have to help them win and become better."

St. Pete PAL provides a safe and affordable place for out-of-school children. The nonprofit also thoughtfully designs programming to foster academic success, healthy lifestyle choices and productive adults.

The Catsimatidis family began partnering with the organization and the St. Petersburg Police Department in 2023. They helped provide Christmas gifts for 70 children from 40 families last December.

Catsimatidis noted that he grew up poor in Spanish Harlem after immigrating to America with his family at six months old. "I was able to succeed," he said.

"I'm trying to instill that in these kids," Catsimatidis continued. "Just because you're poor – in America, you can succeed."

His affinity for the Police Athletic League began several decades ago in New York. Robert Morgenthau, a longtime district attorney and mentor, chaired the city's affiliate.

"He put his arm around me 40 years ago, and he says to me, 'You've got to keep helping these kids,'" Catsimatidis said. He would go on to serve as the organization's chairperson. Morgenthau died in 2019.

The family has also supported art at the St. Petersburg Pier, the Poynter Foundation, the Greek and Russian Orthodox Church, the St. Petersburg Museum of History, the Florida Holocaust Museum, the Dali Museum and Florida CraftArt.

Margo, a St. Petersburg native, said it felt "wonderful" to help put a smile on the kids' faces and "make them forget about all the bad stuff in their lives." She also stressed the importance of instilling hope that they "can build their own way to the future."

Catsimatidis committed $10,000 to the We Are St. Pete Fund in Hurricane Helene's aftermath. He also pledged to match up to $50,000 in donations from the local development community.

Catsimatidis shared his gratitude for other developers contributing to the relief fund, now at $850,161. It will soon increase by $50,000.

A new development

The Residences at 400 Central recently peaked at 49 stories and 515 feet. Catsimatidis has frequently noted that it wouldn't be his last development in the area, and new plans are now underway.

"We're announcing a second building, almost as big as this one, in a nearby neighborhood," Catsimatidis said. "We're committed to closing the deal before Dec. 31, but we'll do it before that."

Kevin King, director of Florida operations for Red Apple Group, elaborated that the firm is under contract to purchase "an exciting piece of fully entitled land in downtown, just a few blocks from 400 Central."

He said Red Apple would soon decide if the development will feature condominiums or multifamily apartments. "Either way, we believe it will be accessible to many and serve the St. Petersburg community well."

Catsimatidis reiterated his commitment to St. Petersburg, his "second home." Major Nathaly Patterson with the SPPD said St. Pete PAL's programs rely on donors like the family.

She noted that members have become officers, and many return to volunteer. "It's wonderful because you get to see that PAL is working, it's doing what it's supposed to do," Patterson said.

"We're able to help kids, mentor kids and show them different ways in which they can accomplish goals in their lives."