A proposed industrial park at the former Home Shopping Network headquarters was unanimously approved by the City of St. Petersburg’s Development Review Commission Wednesday.
Developer Greystar plans to build an over 400,000-square-foot warehouse project, consisting of three buildings, at 2501 118th Avenue N. It will encompass about 41 acres of the approximately 65-acre property.
Barbas Cremer, PLLC attorney Nicole Neugebauer MacInnes, who has represented Greystar, told the Catalyst that the company is planning to acquire the site in its entirety. However, the deal has not yet been closed.
“It’s not scheduled for a little while,” she said. “Greystar is going to go through the permitting process at least in part before they close.”
According to a City document, Greystar intends to “demolish all existing structures and parking areas on the site and redevelop the eastern portion of the property in a single phase.” Company leaders hope to create 92,806-square-foot, 145,406-square-foot and 163,486-square-foot warehouses based on submitted site plans.
The buildings will encompass about 41 acres of the approximately 65-acre property.
Approximately 48% of the land will be open space. The redevelopment project will not impact “existing wetlands and preservation areas.”
MacInnes added that the buildings will be leased out to tenants.
Development plans for the remaining section of the property are not confirmed, she explained. Greystar, known for its work in the rental housing industry, is considering multiple options including building homes.
QVC Group, the Home Shopping Network’s parent company, put the property on sale in early 2025 after announcing HSN operations would be moved to West Chester, Pennsylvania – where sister network QVC headquarters are located.
The site is currently home to surface parking lots and multiple office and warehouse buildings constructed between 1986 and 1994.
According to a St. Petersburg government document, DRC staff recommended approval of the project subject to special conditions. These included that all the buildings have a “uniformed architectural style” and bicycle parking is provided.
Greystar has invested in the Pinellas County area previously. In 2022, the company acquired more than 90 acres of land from Jabil in St. Petersburg for $32 million. Additionally, it is responsible for the Henry at Whitney Village apartment complex project on the Jim & Heather Gills YMCA property in St. Petersburg – which began construction in April 2025.
Rezoning is not necessary. Therefore, the effort will not need to be approved by the City Council.
“This checks every single box of what zoning requires,” said DRC member Kevin Reali at the Wednesday meeting. “I actually think this is a no-brainer.”