The longtime hospice campus at 5771 Roosevelt Boulevard in Clearwater is on track for a dramatic makeover, with developers PGIM and Greystar planning to swap hospital beds for housing. Their project, a 376‑unit residential community dubbed Birchway Bayside, would bring a mix of apartments and two‑story townhomes to the 22‑acre site, with a sizable chunk reserved for workforce and affordable housing. Greystar is targeting a construction start in 2026 and completion in 2028.
What Birchway Bayside Would Bring
The plan calls for 376 homes spread across 19 buildings: 283 apartments and 93 townhomes. Of those, 151 units — roughly 40 percent — are slated as affordable housing for households earning 60 and 80 percent of the area median income.
On the amenities front, the developers are going big: a resort‑style pool, broad green space, two dog parks, a children's playground, sports areas and 693 parking spaces are all in the mix. Townhomes are planned with two‑car garages.
The development is estimated to cost more than $80 million and is reported to include $68 million in financing from CIBC Bank USA. The project is slated to start in 2026 and wrap by 2028, according to Florida YIMBY.
From Hospice Hub to Housing Site
The property at 5771 Roosevelt Boulevard has long served as home base for Empath Health's Mid‑Pinellas service center and Suncoast Hospice. As part of the sale, the nonprofit says it is relocating administrative functions off the site.
In a press release via Empath Health, the organization said the Roosevelt Boulevard location is being offered for sale so it can reinvest in home‑based programs rather than maintain the existing campus.
Public parcel listings and commercial records put the site at roughly 21.8 to 22 acres, a range reflected in a LoopNet listing that profiles the property.
How It Fits Into Pinellas Housing Goals
Birchway Bayside slots into a broader wave of large redevelopment proposals across Pinellas County that developers have been pitching under Florida's Live Local incentives to boost workforce housing.
St. Pete Rising covered an earlier Greystar filing for the Roosevelt Boulevard property and highlighted the sizable affordable set‑aside as part of a regional push for mixed‑income projects. Local leaders and housing advocates are expected to keep a close eye on how those affordable units are ultimately allocated and whether the plan secures any local incentives or approvals.
What Has To Happen Before Groundbreaking
PGIM's acquisition and Greystar's development timeline still hinge on permitting and final financing before demolition and construction can get underway. Neighborhood meetings or additional city filings are likely on the horizon.
Developers say they hope to break ground in 2026 and complete the community by 2028, per Florida YIMBY. The site is listed in public records and commercial listings as 5771 Roosevelt Boulevard, Clearwater, FL 33760.
