Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Read MoreWho's picking up the tab for the new Tampa Bay Rays's $1.3 billion ballpark, where’s that funding is coming from, and other lingering questions were answered this week during a seven-hour-long discussion.
On Wednesday morning, St. Pete City Councilmembers, Mayor Ken Welch, and Rays executives hashed out the details of the stadium agreement during a Committee of the Whole workshop meeting.
On Thursday, St. Petersburg City Council preliminarily voted 5-3 to approve a development agreement for the new Rays stadium. The opposing votes came from Councilmembers Hanewicz, Muhammad, and Floyd.
Read MoreA nine-hour discussion ensued Thursday as St. Pete City Council members meticulously combed through the Tampa Bay Rays and Hines' 183-page development agreement for the Historic Gas Plant District.
It took over a decade and countless hours of negotiations to reach this milestone conversation about the $6.5 billion development that will transform 86 acres in the heart of downtown St. Pete into an 8-million-square-foot mixed-use district anchored by a new ballpark - becoming the largest project to ever commence in Tampa Bay.
If ultimately approved, the new 30,000-seat enclosed stadium will open in 2028 as part of the first phase of the 30-year planned development.
Read MoreNew renderings released today by the Tampa Bay Rays and Hines reveal an activated Booker Creek, Class A office space, and an art installation that will pay homage to the history of the Historic Gas Plant District.
The detailed renderings were unveiled during a Committee of the Whole meeting as councilmembers were beginning to examine and inquire about the terms and language of the draft development agreement with the joint venture partners.
In total, the project will include nearly 8 million square feet of mixed-use development and cost north of $6.5 billion over 20 years.
It will be the largest mixed-use development project in Tampa Bay history.
Read MoreThe Tampa Bay Rays and the City of St. Petersburg are getting ahead of the game by soliciting work related to the proposed ballpark stadium and redevelopment of the Historic Gas Plant District.
Rays Stadium Co. LLC is seeking a qualified firm to provide professional design-build services for one or two event parking garages to serve a new Major League Baseball stadium, according to a March 12th solicitation notice.
The garages will replace existing surface parking lots and will be operational during the 2025 MLB season to provide parking for Rays games and other events at Tropicana Field.
Read MoreThe Rays and Hines, one of the largest privately held real estate investors and managers in the world, want to build an affordable housing building downtown St. Pete.
The group, which was selected to redevelop the 86-acre Historic Gas Plant District site, has submitted an unsolicited proposal to lease a 0.58-acre property at 1659 3rd Avenue South from the City of St. Pete with plans to construct an affordable apartment building.
The parcel is adjacent to the $6.5 billion Historic Gas Plant District but was not included in the site. This building is in addition to the proposed Historic Gas Plant District redevelopment.e
Read MoreThe 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.
Read MoreSix months after restarting the request for proposal (RFP) process for the redevelopment of the Historic Gas Plant District, St. Petersburg Mayor Ken Welch has announced the selection of a joint bid from Hines and the Tampa Bay Rays to redevelop the 86-acre site.
In his annual State of the City address, which took place on the steps of City Hall, Mayor Welch announced the selection of Hines’ submission by commending the team for having the depth and expertise to execute on a multi-billion-dollar generational project of this scale.
He also noted the team’s commitment to community outreach and to the equitable development of the site.
Read MoreLast 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.
Read MoreThis morning, the City of St. Pete released a new request for proposal for the redevelopment of the 86-acre Tropicana Field site, which is now being referred to by its historical name—the Gas Plant District site.
In June, Mayor Ken Welch recommended the process re-start after not selecting two finalists – Midtown or Sugar Hill – that were narrowed down under the previous mayoral administration.
The decision to re-start the request for proposal process for the redevelopment of Tropicana Field did not come lightly and follows a 15-year journey that began in 2007 when the Tampa Bay Rays announced a proposal to build a new stadium on the downtown St. Pete waterfront.
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