Jabil’s 93-acre property on the northeast corner of 28th Street and Gandy Boulevard North will become the site of a large residential community and industrial park.
On Wednesday, the St. Petersburg Development Review Commission unanimously approved the site plan from engineering firm Kimley-Horn and Associates, on behalf of its client Greystar Development East LLC, to construct a 425-unit multifamily development. Per the agreement, 20% of the units would be dedicated to workforce housing restricted to those making under 120% of the area median income.
St. Pete-based manufacturing giant Jabil Inc. is under contract to sell the massive property to Greystar Development, a subsidiary of South Carolina-based Greystar Real Estate Partners, which is one of the largest multi-family developers.
Jabil previously considered locating its HQ at the site and had a prior agreement with the city to develop 450,000 square feet of office space, 500,000 square feet of light industrial, and 50,000 square feet of retail on the 93 acres, according to city documents. However, Jabil decided to demolish its original headquarters building at 10800 Dr. Martin Luther King Jr. St. N. and build its new headquarters, a $61 million, 190,000-square-foot facility on that site.
Greystar plans to develop 75.42 acres at the site for industrial uses, and the remaining 17.91 acres would be used for multifamily units at the southern end of the property.
The residential component entails building a total of nine buildings. Each building would range from 24 to 36 and 64 units each, which breaks down to roughly 23 units per acre. The entrance to the site would be off 28th Street.
The amenities would include a clubhouse, two pavilions, two pools and four single-story multi-bay garages.
However, under the agreement, Greystar first must build at least 200,000 square feet of industrial before initiating the multifamily development.
An engineer with Kimley-Horn said the DRC previously approved the plans for building the industrial building in December, and Kimley-Horn has submitted a site permit for infrastructure for three of the six planned industrial buildings – meeting the 200,000-square-foot requirement needed to proceed with the multifamily development.
During the meeting, St. Petersburg resident Dick Pierce commended the applicant on the project in respect to the affordable housing units it will bring.