Portion of St. Pete's Gills YMCA campus sells for $12 million
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A rendering of the renovated Jim & Heather Gills YMCA at 3200 First Ave. S. Photo: WJ Architects
Ahead of a redevelopment project including apartments and retail, a portion of the Jim & Heather Gills YMCA campus in St. Petersburg sold last month for $12 million.
Why it matters: The transaction is a step toward a major transformation of the campus, just west of downtown, and YMCA leadership will use proceeds from the sale to upgrade the 25-year-old Gills fitness center.
Driving the news: Developers closed Jan. 31 on 4.5 acres on the east side of the 11.5-acre campus at 3200 First Ave. S. that's currently home to outdoor athletic fields, YMCA officials announced this week.
State of play: Construction on an apartment and retail village is set to begin this quarter, said Cole Sones, a partner with St. Pete-based Blake Investment Partners, which is teaming with national developer Greystar Real Estate Partners on the project.
- Renovations at the YMCA will kick off in the next 30-90 days, said David Jezek, president and CEO of the YMCA of Greater St. Petersburg.
Zoom in: Changes to the gym include expanded parking, new athletic fields, upgrades to the locker rooms, and a revamp of the facade to match the modern, contemporary look planned for the surrounding development, Jezek told Axios.
- The fitness center, which serves more than 14,000 members, won't close during the renovations, he said, although parts of it may not be accessible.
Catch up quick: The retail and housing development, to be called Whitney Village, will include 32,000 square feet of retail space, a 600-space parking garage, and an apartment complex with 325 market-rate units.
- Another 50 apartments will be built above the shops, with rent at what developers have called an "attainable" price point for local workers, including YMCA staff.
Between the lines: Rents for the apartments haven't been set yet, Sones told Axios. Developers also haven't yet signed with any retailers but are in conversations with a variety of potential tenants.
- The goal is for shops and restaurants to have a health and wellness focus, he said.
