At Mayor Welch’s first State of the City address he made the highly anticipated announcement regarding the developer of the Gas Plant District in downtown St. Petersburg. Mayor Welch has chosen the Tampa Bay Rays and Hines development team to redevelop the 86-acre district. 

The team has proposed a 7-million SF redevelopment plan for a mixed-use community that will surround a new ballpark for the Rays. Welch stated that he is fully confident in his choice with the Rays/Hines team. The development will be one of the largest in St. Petersburg’s history and sets the stage for the next chapter of the city.

The Rays lease on the city-owned Tropicana Field expires in 2027. The hope is to have a term sheet complete by the end of the year so a development agreement can be presented for approval by city council in summer 2024. The city hopes the 86 acres can be used to address the lack of workforce and affordable housing inventory downtown as well as increase the amount of office space and jobs downtown. 

The team has proposed 5,700 multifamily units with 850 set aside for affordable and workforce housing units on-site, and around 600 similar units off-site. Additionally, they will develop 1.4 million square feet of office space, 300,000 square feet of retail, a 2,500-person entertainment venue, 700 hotel rooms, and 600 senior living residences. A music hall will be constructed on the property and the Dr. Carter G. Woodson African American Museum will be relocated to the site. The Rays proposal also includes a new stadium. The Rays/Hines proposal offered the most money to the city for the development rights with a timeline that has a new ballpark by the 2028 home opener for the Rays’.

The Rays/Hines are one of four teams that submitted bids to redevelop the site. 50 Plus 1 Sports, Restoration Associates, and Sugar Hill Community Partners. Sugar Hill is the only development team that also participated in the previous bid under former Mayor Rick Kriseman. City officials stated that they hope to negotiate an agreement with the Rays that will keep them at Tropicana Field for years to come before they commit to a broader development agreement. 

Development is estimated to total more than $6 billion over the next 20+ years. This includes $2.5-$3 billion to be immediately invested in the construction of a new ballpark for the Rays and the initial development stages.