425-unit apartment development with workforce housing approved for St. Pete's Gateway area
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St. Pete’s Development Review Commission unanimously approved a site plan to construct a 425-unit apartment development at the northeast corner of 28th Street and Gandy Boulevard in the Gateway area.
The multifamily project is located on nearly 18 acres of a 93-acre site that is owned by Jabil, Inc., a global manufacturing services company, who once envisioned a massive headquarters campus on the site.
The development in Pinellas County includes nine residential buildings along with several single-story multi-bay parking garages.
Jabil is under to sell the land to Greystar Development East, LLC, a subsidiary of Greystar Real Estate Partners, an international real estate developer and manager.
In October 2021 the site was rezoned from Employment Center (EC-1) to Corridor Commercial Suburban (CCS-2) to facilitate the development of apartments.
Greystar is proposing a 425-unit garden-style development with nine residential buildings designed to have either 24, 36, or 64 units. Each residential building will be either three or four stories and will reach a maximum height of 60 feet. The project will also feature several single-story multi-bay parking garages.
Five of the buildings are oriented around a courtyard pool area and resident clubhouse. A second cluster of buildings surround another pool and an open green space.
As part of a development agreement approved in October, 20% of the units in the development (85 units) will be income-restricted workforce housing for those making under 120% of the area median income (AMI).
A SITE PLAN OF THE PROPOSED DEVELOPMENT INCLUDING GREYSTAR’S MULTIFAMILY PROJECT AND THE FUTURE INDUSTRIAL PARK.
In addition to the apartments, the remaining 75 acres of the site would be split between industrial (61 acres) and preservation (14 acres) uses. The development agreement allows for up to 1,000,000 square feet of industrial uses, which could come in the form of light industrial buildings, industrial warehouses, distribution facilities, or lower density office uses.
Of that, a minimum of 200,000 square feet of industrial will be required to be constructed prior to or concurrently with the multifamily portion of the project.
Construction on the development in St. Petersburg, FL is expected to begin later this year.
