Greystar JV Kicks Off Tampa-Area Project
The developer recently acquired the site for the 325-unit community.
A joint venture between Greystar and Griffin Capital has broken ground on The Henry at Whitney Village, a 325-unit project in St. Petersburg, Fla. The community is set to come online in March 2027, with preleasing expected to begin in December next year.
Greystar acquired the 4.5-acre site in February for $12 million, according to St. Pete Rising. YMCA sold the land.
Rising at 3200 1st Ave. S. in the Grand Central District neighborhood, the development will be 3 miles from downtown St. Petersburg. Downtown Tampa, Fla., will be 23 miles away, while the city’s international airport will be 19 miles northeast.
READ ALSO: Top 10 Markets for Multifamily Deliveries
The five-story, wrap-style project will comprise one-, two- and three-bedroom floorplans. Common-area amenities are set to include a swimming pool with cabanas, shuffleboard courts, ping pong tables, outdoor grilling stations, fire pits and lounging areas.
The community will have a clubhouse with lounge and bar, pet spa, sauna and fitness center, as well as EV charging stations. The property will also feature coworking spaces and private offices.
The Tampa – St. Petersburg – Clearwater metro currently has 75 multifamily properties under construction, which will add about 19,620 units upon completion, according to Yardi Matrix information. Additionally, there are 467 planned or prospective projects totaling more than 108,270 units.
Greystar’s recent multifamily activity
Greystar’s portfolio consists of more than 823,580 units and student beds under management, totaling about $29 billion in equity. The firm owns multifamily properties in 171 U.S. markets. The firm also ranked first in out top multifamily developers ranking.
Last month, Greystar started construction on Old Ivy Residences, a built-to-rent community in Albemarle County, Va. The first units are scheduled to come online in the first half of next year.
