st. Petersburg, FL

St. Petersburg Y Rides The Real Estate Upswing

What happens when a YMCA is long-situated in a newly-hot real estate market? Grow hot with them, of course. 

That’s exactly the case for the Jim & Heather Gills YMCA in St. Petersburg, Florida. Situated on an 11-acre site, this Y, with its ample surface parking and 25-year-old facility, is now poised for transformation. Partnering with Blake Investment Partners and Greystar Real Estate Partners, along with designs from local firm Wannemacher Jensen Architects, the YMCA is set to become part of a dynamic, multi-use development.

The plan involves selling approximately 4.5 acres of the property, with proceeds funding a complete renovation and modernization of the YMCA, including the addition of an artificial turf field. The sold portion will feature 425 new apartments, an outdoor retail plaza, and a parking garage. Among the apartments, 50 will be designed as smaller, more affordable units, providing attainable housing in an area otherwise dominated by luxury developments.

According to Kathryn Varn, a real estate writer for Axios Tampa Bay, “I love the Y, and I figured the change was coming to the Gills site at some point.” She adds, “I hope that whatever happens, the gym remains accessible to folks of all ages, physical abilities, and income levels.”

Of course, this being a Y, it certainly will.