$260 Million Bid Aims to Transform St. Petersburg’s Gas Plant District After Rays Departure
A massive $260 million offer has been made for the 86-acre Gas Plant District in St. Petersburg, Florida, with plans to invest an additional $500 million in redeveloping the site after the Tampa Bay Rays’ lease expires in 2027.
Multi-Phased Proposal Includes Immediate Investment in Tropicana Field
The proposal, submitted by Blake Investment Partners, includes an initial $60 million for immediate improvements to Tropicana Field, followed by $200 million upon the expiration of the Rays’ lease. The development team intends to begin redevelopment plans once the baseball team vacates the premises.
Vision Focuses on Open Spaces, Heritage Preservation, and Mixed-Use Development
Blake Investment partners’ proposal prioritizes real estate development, with no emphasis on baseball-related facilities. Plans include a 15-acre park, a 2-acre space for the Woodson African American Museum, and a five-star hotel.Additionally, 15 acres could be allocated for a new Pinellas County convention center.
Partnerships with Experienced Developers to Execute Aspiring Vision
To achieve its vision, Blake’s team plans to collaborate with multiple experienced developers, each managing specific sections of the property to create interconnected and distinct spaces.
Shift from Baseball Stadium to Mixed-Use Hub
This new approach signifies a significant shift in direction for the Gas Plant District, with the focus shifting to residential units, commercial spaces, and modern offices after the Rays depart in 2027.
City Leadership to Decide Fate of Gas Plant District Redevelopment
The decision now rests with city officials, including the mayor and city council members, who must approve the proposal before the project can proceed.
How will the redevelopment project address any concerns regarding displacement of existing businesses or residents in the Gas Plant District?
$260 Million bid Aims too Transform St. Petersburg’s Gas Plant district After Rays Departure
A massive $260 million offer has been made for the 86-acre Gas Plant District in St. Petersburg, Florida, with plans to invest an additional $500 million in redeveloping the site after the Tampa Bay Rays’ lease expires in 2027.
Multi-Phased proposal Includes Immediate Investment in Tropicana Field
The proposal, submitted by Blake Investment Partners, includes an initial $60 million for immediate improvements to Tropicana Field, followed by $200 million upon the expiration of the Rays’ lease.The progress team intends to begin redevelopment plans once the baseball team vacates the premises.
Vision Focuses on Open Spaces, Heritage Preservation, and Mixed-Use Development
Blake Investment partners’ proposal prioritizes real estate development, with no emphasis on baseball-related facilities. Plans include a 15-acre park,a 2-acre space for the Woodson african American Museum,and a five-star hotel.Additionally, 15 acres could be allocated for a new Pinellas County convention center.
Partnerships with Experienced Developers to Execute Aspiring Vision
To achieve its vision, blake’s team plans to collaborate with multiple experienced developers, each managing specific sections of the property to create interconnected and distinct spaces.
Shift from Baseball Stadium to Mixed-Use Hub
This new approach signifies a significant shift in direction for the Gas Plant District, with the focus shifting to residential units, commercial spaces, and modern offices after the Rays depart in 2027.
City Leadership to Decide Fate of Gas Plant District Redevelopment
The decision now rests with city officials, including the mayor and city council members, who must approve the proposal before the project can proceed.
Frequently Asked Questions about the Gas Plant District Redevelopment
- What exactly is the Gas Plant District?
- It’s a prime 86-acre area in St. Petersburg, Florida, currently home to Tropicana Field, the baseball stadium of the Tampa Bay Rays. The district is slated for redevelopment after the Rays’ lease expires in 2027.
- Who is proposing this redevelopment?
- Blake Investment Partners has submitted a proposal. They have a vision of a mixed-use development, indicating they’re not focused on keeping baseball as a primary component.
- How much money is being invested?
- The initial bid is for $260 million, with an additional $500 million planned for subsequent development phases. This investment will happen in stages, starting with improvements to Tropicana Field and continuing after the Rays leave.
- What will the Gas Plant District become?
- The plans include a 15-acre park,a hotel,the Woodson African American Museum,a potential convention center,and residential and commercial spaces. It’s a major shift from a stadium-centric area to a vibrant hub.
- What’s the timeline?
- The redevelopment will begin after the Rays’ lease expires in 2027. Immediate improvements to Tropicana Field are part of the initial phases.
- Who makes the final decision?
- St. Petersburg city officials, including the mayor and city council, will decide whether to approve the redevelopment proposal.
This could redefine St. Petersburg’s landscape.Stay tuned to learn more about the evolution of this exciting project as the city council members intentional.
