Gas Plant District redevelopment teams bolster partnerships ahead of proposal deadline
/Prominent local developers competing to lead the redevelopment of the Gas Plant District in St. Pete are expanding their teams.
On January 4th, Mayor Ken Welch opened a 30-day window inviting developers and interested parties to submit proposals, following the receipt of an unsolicited proposal in October 2025 from ARK Ellison Horus.
Since then, investor Thompson Whitney Blake of Blake Investment Partners has announced he is also submitting a proposal.
ARK Ellison Horus and Blake are currently the only developers to publicly signal their intent to submit bids for the site, although additional proposals could still be submitted before the February 3rd deadline.
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Construction is underway on Azalea Cay, a planned 1,000-unit apartment community on the former Raytheon property in west St. Pete.
Tampa-based Metro Development Group, St. Pete-based Porter Development, and local elected officials broke ground Monday morning on the first phase of the project at 1501 72nd Street North, near Azalea Park and Tyrone Square Mall.
The $109.8 million first phase will bring 341 apartments, including 102 income-restricted homes.
Fifty-one apartments will be reserved for households earning up to 80% of the area median income (AMI), while another 51 will be available to households earning up to 120% of AMI.
“I look around and I envision someday teachers, nurses, first responders coming home from a tough day at work and calling Azalea Cay home,” Les Porter, president of Porter Development, said during the ceremony. “Maybe one of the big reasons why they’re still able to live in St. Pete is because of the rent associated with their apartment.”
The remaining 239 apartments will rent at market rate. The income-restricted units must remain affordable for at least 50 years.