Construction has officially commenced on a 325-unit apartment community that will anchor a new live-work-play neighborhood in St. Pete’s Grand Central District.

As first reported by St. Pete Rising, the five-story apartment building, dubbed The Henry at Whitney Village, is part of a larger development, which will also include a 32,000-square-foot pedestrian-only retail village and a 600-space parking garage for residents and visitors.

The mixed-use project will occupy 4.5 acres on the east side of the Jim & Heather Gills YMCA at 3200 1st Avenue South.

South Carolina-based multifamily developer Greystar Real Estate Partners purchased the property from the neighboring YMCA in February for $12 million.

The 25-year-old, 55,000-square-foot YMCA will undergo a major renovation funded by proceeds from the sale of the athletic field property.