The YMCA of Greater St. Petersburg has sold a portion of its property in St. Pete’s Grand Central District to a group of developers planning to build a new pedestrian-only retail village and residential complex.

Last Thursday, GS Blake Owner, LLC, an entity connected to national multifamily developer Greystar Real Estate Partners, purchased 4.5 acres on the east side of the Jim & Heather Gills YMCA at 3200 1st Avenue South for $12 million.

Proceeds from the sale will go towards renovating the 25-year-old, 55,000-square-foot YMCA facility, which is located on the west side of the property. Upgrades will include relocated athletic fields with artificial turf and lighting, expanded parking including access to a covered parking garage, and updated locker rooms.

The first phase of the YMCA redevelopment project is expected to begin this spring.

“This is a defining moment in the continued evolution of the YMCA and our commitment to the community,” said David Jezek, President & CEO of YMCA of Greater St. Petersburg. “With the resources from this sale, we're not just renovating a facility - we're ensuring that the YMCA remains a cornerstone of health, wellness, and connection for generations to come. This marks the next chapter in our ongoing mission to strengthen our community and empower individuals to reach their full potential.”

First announced last year, Greystar and St. Pete investor Blake Whitney Thompson of BLAKE Investment Partners plan to build 380 apartments and 32,000 square feet of retail on the newly acquired land, which is currently occupied by the YMCA’s athletic fields.

The retail village, dubbed Whitney Village, will be located on the northeast corner of the property and will create a dynamic shopping and dining experience that will complement the surrounding neighborhood.

“We want something soulful, unique, and genuine. We spent 18 months thinking of ways to give St Petersburgians an experience that is focused on health, community, family-friendly - and architecturally significant,” Thompson previously said in a conversation with St. Pete Rising.

Additionally, small apartments and studios will be situated above the retail space, offering living space to residents at an attainable price point. These units were designed to help provide housing to local employees like the Jim & Heather Gills YMCA staff.

“This will be for the people who want to live in St. Pete, enjoy a walkable urban environment, but not pay downtown St. Pete prices,” said Thompson.

The community will also feature a 600-space parking garage for residents, with dedicated spaces for YMCA members and Village goers.

In the southeast corner of the property, a five-story apartment community, to be named The Henry at Whitney Village, will be developed by a joint venture between Greystar Real Estate Partners and Blake Investment Partners.

The Henry will include approximately 325 apartments featuring a mix of studio, 1-, 2, and 3-bedroom units alongside best-in-market indoor and outdoor amenities. In addition, residents will receive memberships to the YMCA.

“You need very special partners – and a lot of land – to build a village where people can gather, live, play, shop and focus on health and wellness,” said Cole Sones, Partner, Blake Investment Partners. “Greystar is a world-class partner and we are excited to be building together in St. Pete.”

Blake and Greystar are working with Tim Clemmons of St. Pete-based Place Architecture and engineering firm George F. Young Inc. on the proposed project. Local firm WJ Architects was hired to design the YMCA’s portion of the planned redevelopment.

The development is expected to break ground in the next 60 to 90 days.