Orlando Magic co-founder pitches $1 billion of public funding for a MLB Stadium in Orlando.

cliggittvaluation • May 9, 2023

Pat Williams, co-founder of NBL Team the Orlando Magic, has pitched a $1.7 billion MLB Stadium that he says could be the future home for the Tampa Bay Rays. The proposal includes a ballpark with a capacity of around 45,000 seats, on a 35-acre county owned plot at International Drive.


The development also proposes retail shops, restaurants, office space, three hotel towers, as well as a separate convention center that can accommodate up to 10,000 people. The proposal is betting on luring some of the millions of tourists to a baseball game while they’re in town.


Williams told the Tampa Bay Business Journal “[The Orlando site] is right next to all the central highways, it’s a perfect spot for a ballpark. We feel good about it. It’s not in downtown Orlando but it’s a 15-minute drive depending on traffic. Six miles from Disney, six miles from Universal. We’re very bullish on these 80 million tourists that will come through here this year. And by the time we might start playing say in 2028, we're probably going to be at 100 million tourists. If we can draw 2% of those to a ballgame, that's 2 million in a season. We feel like we can get to 3 million.”


William submitted a request for public funding on April 26, stating that Orange County should contribute $975 million in tourist development taxes to pay off the debt from a 30-year municipal bond. The county would own the land, and otherwise would not have to contribute additional money for stadium operations. Construction would then start in 2025.


The Tampa Bay Rays are currently in negotiation with the City of St. Petersburg and Pinellas County to use public money for a new stadium at the Tropicana Field site. They have a lease that ends after the 2027 season. The ballpark in St. Pete is just a piece of the broader mixed-use development dubbed the gas plant district – which Mayor Ken Welch (St. Petersburg) selected the Rays & Hines development team to redevelop the 86-acres of land.


A funding plan for the $1.2 billion St. Petersburg ballpark has not yet been finalized, and Ray’s team president Brian Auld has publicly stated that the Rays have not yet committed to the city of St. Petersburg. Renderings and rumors for a waterfront Tampa ballpark circulated the internet last year, but updated plans for that site (see here) do not include a stadium.


While Williams is happy to bring the Rays to Orlando, he has said he is more focused on bringing an expansion team to Orlando – called the Orlando Dreamers. MLB Commissioner Rob Manfred has stated the league would like to expand as soon as the Tampa Bay Rays and Oakland Athletics find new homes. Williams wants Orlando to fill one of the two available expansion slots, but several other cities are hoping for the same. The Orlando Dreamers website says the team may not be called The Dreamers in the end, but have taken the name in the meantime while following the dream of expanding MLB to Orlando. The team could either be an existing MLB team moving to Orlando, or an entirely new one. Williams simply wants MLB to exist in the Orlando region.


The project could create approximately 20,000 permanent jobs and generate an estimated $1.16 billion in annual economic impact for Orange County. The Citizen Advisory Task Force will review the Orlando Dreamers’ application and they are expected to provide recommendations to the Board of County Commissioners in July. 

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Pasco County Approves Expansion of The Grove at Wesley Chapel

By • September 15, 2025
Pasco County commissioners have approved a major residential expansion at The Grove at Wesley Chapel, reinforcing the growth of one of the area’s most dynamic mixed-use destinations. On September 2, commissioners voted to allow developer Mark Gold to add 275 additional apartment units, nearly doubling the community’s multifamily component from 300 to 575 residences. Transforming a Former Retail Center Since acquiring The Grove in 2019, Gold has reshaped the once-struggling retail center into a thriving hub anchored by the Krate container park, boutique retailers, restaurants, and entertainment venues. The addition of new apartments is the latest step in evolving the 165-acre property into a fully integrated live-work-play environment. The approved plan calls for four-story apartment buildings, integrated pedestrian connections, and a new park. Residents will have direct access to Krate and surrounding businesses, further driving foot traffic and supporting small local enterprises. Commissioners described the project as a “classic mixed-use development” that responds to shifting consumer and tenant demand. Addressing Infrastructure and Traffic Concerns While Commissioner Jack Mariano voiced concerns over congestion along Oakley Boulevard, the main access road, other commissioners pointed to ongoing infrastructure improvements—including the widening of Old Pasco Road—as a sign that capacity is keeping pace with development. Additional pedestrian safety measures, such as new crosswalks and stop signs, were also included in the approval. Beyond Apartments: What’s Next for The Grove Although multifamily is taking the spotlight, questions remain about the use of The Grove’s 500,000 square feet of office entitlements, which have not yet been exercised. Commissioners emphasized the importance of adding employment opportunities to balance the project’s residential and retail growth. Gold has committed 1,000 square feet to a co-working space, reflecting demand from remote workers, and noted that hotel development is also underway, with letters of intent already signed for 120 rooms. Remaining entitlements include 50,000 square feet of retail and additional acreage along Old Pasco Road. A Model for Suburban Redevelopment The Grove’s continued evolution highlights a broader trend in the Tampa Bay area: the repositioning of aging retail centers into mixed-use, experience-driven destinations. As national retailers close and consumer behavior shifts, developers are integrating housing, entertainment, and co-working concepts to create sustainable long-term value. Commissioner Seth Weightman summed it up: “If it was ever an appropriate place in this county to have multifamily, this is it.” Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com

USF Trustee's Vote to Advance New Mixed-Use Fletcher District

By • September 9, 2025
The University of South Florida is moving forward with plans for a major mixed-use development on its Tampa campus known as the Fletcher District. Earlier this month, the university’s trustees approved the concept, and the proposal is now heading into a 90-day review process with the City of Tampa, Hillsborough County, and other local agencies. If approved by the Board of Governors in November, construction could begin as early as next year, with a second public hearing scheduled for December 10. The first phase of the Fletcher District will transform 27 acres into a combination of student and multifamily housing, a hotel and conference center, retail and dining options, green spaces, and a new academic building. Developers may also add an additional 20 acres of cottage-style family housing depending on early demand. The project is being structured as a public-private partnership, meaning USF’s direct financial role will be limited to the academic building and its share of infrastructure improvements. This site has been the focus of debate in recent years, as nearby residents previously pushed back on development proposals tied to land along Fletcher Avenue containing wetlands and sandhill preserves. In 2023, USF President Rhea Law designated the Forest Preserve as undevelopable and closed the university golf course adjacent to it. The current plan emphasizes preservation by including wildlife buffers, native vegetation restoration, and stormwater management systems designed to complement the natural environment. A full traffic analysis is also underway to address concerns about congestion along Fletcher Avenue. Reactions to the plan have been mixed. Student leaders see the Fletcher District as a “win-win” for the university and the broader community, citing the addition of much-needed housing and economic activity. Trustees have expressed optimism about the project’s potential to enhance campus life, with suggestions for public artwork and other landmarks in the green space. Local residents, however, remain concerned about flooding, runoff, and increased traffic in the surrounding neighborhoods. Some fear the project could overwhelm nearby infrastructure, though university officials say they are committed to working within all environmental and regulatory requirements. From a valuation perspective, the Fletcher District represents a significant shift in the development landscape around USF. Large-scale mixed-use projects of this nature often set new benchmarks for rent levels, absorption rates, and market expectations. The addition of multifamily housing, hospitality space, and retail could create ripple effects across adjacent submarkets, while the public-private structure introduces unique considerations for land valuation and long-term lease structures. As details continue to emerge, appraisers, investors, and property owners alike will be watching closely to see how this project influences growth and value in the area. Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com

A New Ballgame: Phillies Reignite Clearwater Development Plans

By cliggittvaluation • July 31, 2025
After a pause following last year’s hurricanes, the Philadelphia Phillies have resumed discussions with the City of Clearwater and Pinellas County to revisit long-term plans for upgrading their spring training complex. While no formal proposal has been submitted yet, early conversations signal a renewed interest in reaching a mutually beneficial agreement. City Manager Jennifer Poirrier, who is leading negotiations on behalf of Clearwater, says the team appears to be taking past community feedback seriously. “The Phillies organization definitely seems to have been listening,” Poirrier said, noting cautious optimism about progress. Pinellas County Administrator Barry Burton has also been involved in the meetings, given the likelihood that the Phillies will request funding from the county’s bed tax—a tax collected on short-term lodging stays. “Our role stems from the tourism impact the Phillies bring,” Burton said. “They’ve indicated that they may request funding from the bed tax, which is why we’re part of these conversations.” Back in 2019, the Phillies requested $40 million from the county’s bed tax to fund a nearly $80 million renovation of BayCare Ballpark and the nearby Carpenter Complex. That proposal didn’t gain traction, especially as the facilities—built in 2004—were significantly newer than others that had received funding, such as the Toronto Blue Jays’ Dunedin complex. Since then, project plans have remained fluid. In 2022, the Phillies unveiled a vision for a year-round player development hub, with cost estimates reaching $300 million. Later, they introduced a proposed mixed-use development—Ballpark Village—featuring residential units, retail, and dining space. The team purchased 13 acres just south of the complex for $22.5 million in November 2023 to support this expansion. Still, a more modest stadium-focused project, with a projected cost around $65 million, seems to be the first step forward. Poirrier confirmed that a scaled-down version is the likely direction in the near term but emphasized openness to more comprehensive plans in the future. “The U.S. 19 corridor holds enormous potential for economic growth,” she said. “We’re dreaming big and keeping our minds open.” The most recent meeting between city, county, and Phillies representatives took place on July 16, with another one scheduled for Friday. While Clearwater hasn’t re-engaged its former consulting firm CAA Icon—paid over $260,000 for its past role in negotiations—it may do so again down the line. From the Phillies’ side, key personnel in the discussions include Director of Florida Operations John Timberlake, BayCare Ballpark GM Doug Kemp, and CFO John Nickolas. Timberlake has not provided public comment on the meetings. City and county representatives, including Poirrier and Burton, are also planning a visit to Philadelphia in late August, a tradition where local officials are hosted by the team at Citizens Bank Park. These visits often include dinners, games, and conversations—but no negotiation meetings are currently scheduled for the trip. The Phillies have held their spring training in Clearwater since 1947 and have built deep ties to the community. In addition to their stadium investments, the team has made philanthropic contributions, including a $1 million donation toward hurricane relief last November. As of now, no final timeline has been established for the proposal or public funding request. “I think it’s safe to say everyone wants this finalized sooner rather than later,” Poirrier said, “but there’s no definitive timeframe just yet.” Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
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