Greystar Kicks Off Construction on 325-Unit Housing Development in St. Petersburg

Construction crews have started work on a massive apartment project at 3200 1st Avenue South in St. Petersburg's Grand Central District. The $12 million build will add both living spaces and retail spots to a 4.5-acre plot beside the Jim & Heather Gills YMCA.

"We're proud to activate a long-vacant site with new housing that complements the energy and growth of the Grand Central District," said David King to St. Pete Rising.

Rising five stories high, The Henry at Whitney Village will mix 325 homes with 32,000 square feet of shops. A 600-car garage will serve both residents and shoppers. Greystar Real Estate Partners bought the land from the YMCA earlier this year.

Money from the sale will help fix up the YMCA's aging building, a 55,000-square-foot center that first opened its doors in 1999. For this big project, Greystar joined forces with Griffin Capital and local firm Blake Investment Partners.

Future residents can pick from small studios up to big three-bedroom units. Outside, they'll find a pool, sports courts, cooking spots, and places to gather around fire pits. The building offers plenty inside: from a clubhouse and pet care area to a steam room, gym, and work spaces.

"We consider [St. Petersburg] to be one of the best cities and submarkets in Central Florida," said Lewis Stoneburner to St. Pete Rising.

Local experts from Place Architecture and George F. Young will guide the build. Workers aim to finish by March 2027, with pre-leasing scheduled to begin in December 2026.

This isn't Greystar's first project in town. They've built the Ascent tower downtown, put up a Marriott hotel, created the Marlowe Gateway homes up north, and now plan to add 376 more units in nearby Largo.