Boutique townhome community, SOMA, announced for 4th Avenue South in downtown St. Pete
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Downtown St. Pete is set to see another luxury townhome development as the real estate market continues to see extraordinarily low inventory and strong buyer demand. Several projects in the downtown area have recently sold out including The Royal, a 13-unit townhome development on 4th Avenue South, and Six Point Row, a 19-unit townhome project on 1st Avenue North in the Grand Central District. This demand is fueling the need for more residential units at all price points.
Coming off the success of their last project, the team behind Driftwood on Central, an 11-unit sold-out mixed-use and townhome development that is currently under construction in the Grand Central District, has announced their latest project – SOMA.
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South Carolina-based multifamily developer Greystar Real Estate Partners, in partnership with St. Pete-based Blake Investment Partners, has topped out The Henry at Whitney Village, a five-story, 325-unit apartment complex under construction in St. Petersburg’s Grand Central District.
The building is located on 3.37 acres on the east side of the Jim & Heather Gills YMCA at 3200 1st Avenue South. Greystar purchased the property from the YMCA in January 2025 for $12 million.
“We are proud to have reached this important milestone and look forward to welcoming residents to the Henry at Whitney Village in Spring 2027,” David King, managing director for development at Greystar, said in a statement to St. Pete Rising.
The apartment complex is part of the first phase of Whitney Village, a five-acre mixed-use development on a portion of the YMCA property that will include apartments, retail, and a renovated YMCA facility.
The first phase also included an extensive renovation of the 25-year-old, 54,000-square-foot YMCA facility on the west side of the property, funded by proceeds from the property sale.