YMCA of Greater St. Petersburg selects development partner to redevelop 11-acre site in Union Central District
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YMCA of Greater St. Petersburg has selected a development partner to redevelop a significant 11-acre property in St. Pete’s Union Central District.
In a release, the YMCA said they plan to work with a joint venture between local real estate development teams, Blake Investment Partners (BLAKE) and Eastman Equity.
The site sits just one block south of Central Avenue at the intersection of 1st Avenue South and 31st Street and is bound by the Grand Central District to the east, Palmetto Park to the south, Central Oak Park to the west, and Historic Kenwood to the north.
THE SITE SITS JUST ONE BLOCK SOUTH OF CENTRAL AVENUE AT THE INTERSECTION OF 1ST AVENUE SOUTH AND 31ST STREET.
Plans for the property include a mixed residential and retail development on the eastern side of the parcel. The western portion of the property would remain with the YMCA and the group is looking for additional community partners to expand their mission and address community issues such as affordable housing and health care services.
The YMCA would spearhead the redevelopment of the western half of the campus.
“Just over 20 years ago, the YMCA of Greater St. Petersburg was the catalyst for redevelopment of this area and we could now have the opportunity to once again be a part of a transformational project that will revitalize the area,” said David Jezek, President and CEO of YMCA of Greater St. Petersburg.
“This project will allow us to give the Jim and Heather Gills facility a major facelift, creating more space, enhancing amenities, expanding youth and adult programming, and improving accessible parking, all while maintaining outdoor field space for children and families.”
A redevelopment of the site would allow the enhancement of the Jim & Heather Gills YMCA which is the flagship location for the YMCA of Greater St. Petersburg.
THE YMCA PROPERTY SITS NEAR THE INTERSECTION OF CENTRAL AVENUE AND 34TH STREET JUST OUTSIDE OF DOWNTOWN.
In selecting BLAKE and Eastman Equity, the YMCA selected the only local development team in the running for the redevelopment of the site.
Eastman Equities is led by St. Pete developer Jonathan Daou. Daou moved to St. Pete in 2014 after spending 20 years in New York City. Once settled in the Sunshine City, Daou began investing in the EDGE and spearheaded its transformation.
“This opportunity to make a new destination for health, wellness and the businesses that tie into that mindset is something that gets us motivated,” said Jonathan Daou, President & Creative Director of Eastman Equity. “This partnership gives us the chance to build an entirely new retail and residential destination.”
Blake Investment Partners (BLAKE) is a regional investment firm led by Blake Whitney Thompson that has a portfolio including real estate development, private equity investments as well as a food and beverage group.
The group has led restaurant group Seed & Feed Hospitality, which recently purchased a stake in beloved burger joint El Cap and is behind other local concepts such as Trophy Fish, The Mandarin Hide, Mandarin Heights, and the newly announced restaurant Perry’s Porch at the St. Petersburg Museum of History.
“The invitation to participate in this process was humbling,” said Blake Whitney Thompson, founder of BLAKE. “The YMCA management and Board undertook an institutional search, and brought in some of the best developers in the country. I am very proud that our collaborative proposal, our track record and our very deep roots to this city contributed to our team being selected,” continued Thompson.
The YMCA hopes to present a plan to its Board of Directors later this year. A construction timeline has not been announced.
