The Tampa Bay Rays have reached an agreement to build a new baseball stadium in downtown St. Petersburg, according to the Tampa Bay Times.

An official announcement is expected on Tuesday.

The new stadium would be constructed as part of the redevelopment of the 86-acre Historic Gas Plant District, where the current stadium resides, and open for the 2028 season.

Last year, the City of St. Petersburg published a request for proposals (RFP) for the Historic Gas Plant District. The Rays submitted a proposal for the site in partnership with Hines, one of the largest privately held real estate investors and managers in the world.

Last Friday was the deadline for developers to submit proposals for the 86-acre Historic Gas Plant District redevelopment. Yesterday, all four proposals were published to the City of St. Pete’s website.

Understand that each of these proposals are massive, absolute tomes clocking in at hundreds of pages a piece. Feel free to read the entire proposal here, but don’t say we didn’t warn you!

Lucky for you, we’ve spent hours upon hours combing through each proposal, so you don’t have to. And we are here to provide you with the Cliffs Notes.

Today, Mayor Ken Welch stood behind a podium on the corner of 16th Street and 5th Avenue South under the 175 overpass to provide a huge update on the Tropicana Field redevelopment saga.

The announcement had been teased for months as the final decision on which proposal Mayor Welch would recommend – Midtown or Sugar Hill.

But instead, in front of a crowd of city leaders, stakeholders, and citizens, Mayor Welch announced that he will restart the process.