Redevelopment site plan for YMCA property moves to city for approval

ST. PETERSBURG | May 6, 2024 – A partnership between Blake Investment Partners and  Greystar Real Estate Partners has filed an application with the City of St. Petersburg’s  Development Review Committee for the redevelopment of just over 4.5 acres of the YMCA  campus on the west side of downtown St. Petersburg. In partnership with YMCA of Greater St Petersburg, Blake Investment Partners and Greystar are redesigning the Jim & Heather Gills YMCA campus into a marquee community gathering space. 

The proposed development, at the southwest intersection of 31st St. South and 1st Ave. South, will be dubbed Whitney Village.  

Jim & Heather Gills YMCA will be the cornerstone of this new area with a renovated facility  complete with a lighted, artificial turf field that will parallel 1st Ave. South. 

On the east section of the property, Blake Whitney Thompson, owner of Blake Investment  Partners, is planning a family-friendly, outdoor-oriented retail area that encourages community  and neighborhood gatherings, extending Grand Central District to the YMCA.  

A residential community, to be named The Bellamy at Whitney Village, will be developed by a  joint venture between national multifamily experts, Greystar Real Estate Partners, and locally  headquartered Blake Investment Partners. The residential community will include  

approximately 325 units 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. 

Whitney Village’s first retail component will have approximately 32,000 square feet of new  retail, designed in hip, funky Tim Clemmons fashion. Above the retail will be 50 smaller  apartments and studios, that will be at an attainable price point. These units were designed to  help provide housing to local employees like the Jim & Heather Gills YMCA staff. The  development will also feature a parking garage for residents, with dedicated spaces for YMCA  members and Village goers.  

The project includes the sale of 4-plus acres of the Jim & Heather Gills YMCA property.  Proceeds will be used to upgrade and modernize the almost 25-year-old facility and allow new  programming and offerings.

“This collaborative project will modernize the Jim & Heather Gills YMCA to set us up to serve  the community the next 25 years and beyond,” says David Jezek, President and CEO of YMCA  of Greater St. Petersburg. “We are working with the developers to bring new features such as  covered parking and a lighted, artificial turf playing field. We will also redesign the Jim &  Heather Gills facility, upgrading current spaces and expanding programming.” 

YMCA of Greater St. Petersburg looks forward to bringing this new development to residents of  St. Petersburg. “Blake and his partners have exciting plans for this area of the city that we  have had the privilege to serve since 2001,” says Jezek. “As the anchor of the project, we are  proud to be part of the growth and development that will bring new energy and community to  the area.” 

“I am proud to be working with the YMCA on this project - they are a community asset,” says  Thompson. “Building Whitney Village, The Bellamy at Whitney Village, and renovating the  YMCA will bring the Grand Central District right to the doorstep of the YMCA. We are grateful  to the leadership at the YMCA for their vision to be part of a district that will be a haven for  new families and professionals of St. Pete for years to come!” 

“Whitney Village is unique because it will be a catalyst for renovations and improvements in all  directions,” continues Thompson. “At the same time, it will be a clean slate and a place that  will be designed from scratch. We are curating great retailers and restaurants, and with a new  community of at least 375 families living on the property with YMCA memberships included, we  believe this special project will be a catalyst for the future of the Grand Central District of  downtown St. Petersburg.” 

“We are excited to collaborate with Blake and the YMCA on this placemaking redevelopment.  Greystar has become increasingly active in St. Petersburg over the last decade and we look  forward to making our mark in the Grand Central District”, says David King, Managing  Director, Greystar Development. 

About Blake Investment Partners
Blake Investment Partners (BLAKE) is a private equity and real estate private equity firm that  capitalizes on opportunities that create value. The BLAKE brand is synonymous with speed,  certainty, and agility. With offices in Atlanta, Tampa Bay, Philadelphia, and Charleston, BLAKE  has facilitated hundreds of transactions, with a concentrated emphasis on real estate. 

About Greystar 
Greystar is a leading, fully integrated global real estate company offering expertise in property  management, investment management, development, and construction services in  institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in  Charleston, South Carolina, Greystar manages and operates more than $290 billion of real  estate in 247 markets globally with offices throughout North America, Europe, South America,  and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States,  manages more than 857,400 units/beds globally, and has a robust institutional investment  management platform comprised of more than $76 billion of assets under management,  including over $34 billion of development assets.

About YMCA of Greater St. Petersburg 
For more than 100 years, YMCA of Greater St. Petersburg has been strengthening the  foundation of our community across southern Pinellas County through youth development,  healthy living and social responsibility. By nurturing the potential of children and teens,  improving the community’s health and well-being and providing opportunities to give back and  support neighbors – the Y has the long-standing relationships and physical presence not just to  promise, but to deliver, lasting personal and social change.