Gas Plant District redevelopment teams bolster partnerships ahead of proposal deadline

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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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Inside Tropicana Field as city progresses on $60 million stadium renovation

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Inside Tropicana Field as city progresses on $60 million stadium renovation

A newly completed white dome now crowns Tropicana Field, gleaming in the sun.

Inside, more than 200 workers are stretching the fabric roof, sealing seams, and moving into the next phase of repairs.

“The roof is back on. They are still doing some of the seaming and the final sealing, but in essence, the building is dried in,” said Beth Herendeen, Managing Director of City Development for St. Petersburg, during a media tour on Wednesday. “We have no concern about being open or ready for Opening Day on April 6th, 2026.”

Above the concrete field and thousands of empty seats, the roof’s PTFE fabric alternates between white and orange-tan panels. City Architect Raul Quintana noted the color variation will fade out by spring.

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Final roof panel installed at Tropicana Field as St. Pete races toward 2026 reopening

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Final roof panel installed at Tropicana Field as St. Pete races toward 2026 reopening

Workers have officially installed the final roof panel at Tropicana Field in downtown St. Pete, marking a major milestone as the City of St. Petersburg prepares to welcome the Tampa Bay Rays back in 2026.

The new roof, built with a stronger and more weather resistant fiberglass membrane, is part of a more than $60 million renovation effort to restore the ballpark after 110 mile per hour winds from Hurricane Milton shredded the original roof late last year.

Although the Rays are only contracted to play at Tropicana Field through the end of the 2028 season, the City is required to provide the team with a suitable stadium for the full term of the agreement, prompting the need for repairs.

The city is working with Hennessy Construction Services and AECOM Hunt as general contractors for the project.

Roof installation began in August and accounts for more than $23 million of the total renovation cost.

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Mayor Welch extends proposal deadline for 86-acre Historic Gas Plant redevelopment in downtown St. Pete

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Mayor Welch extends proposal deadline for 86-acre Historic Gas Plant redevelopment in downtown St. Pete

Starting in the new year, the City of St. Pete will officially restart the clock for developers to submit proposals to redevelop the 86-acre Historic Gas Plant District in downtown St. Pete, marking the third time the city has sought bids for the site since 2020.

Mayor Ken Welch had initially planned to open a 30-day submission window in mid-November, but after receiving pushback from major developers, including Kolter Urban and Red Apple Group, as well as concerns from City Council, Welch agreed to delay the start until January 4th, 2026.

Proposals will now be due February 3rd, giving developers a total of 105 days since the city’s October 21st announcement.

The latest bid solicitation was triggered when the city received an unsolicited $6.8 billion proposal from Casey Ellison of Ellison Companies, Cathie Wood of ARK Invest, and Jonathan Graham of Horus Construction.

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Massive $6.8 billion redevelopment of the Tropicana Field site proposed by group of local leaders

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Massive $6.8 billion redevelopment of the Tropicana Field site proposed by group of local leaders

A trio of well-known business leaders have submitted a proposal to purchase and redevelop 95.5 acres of downtown St. Petersburg, including the Historic Gas Plant District.

Casey Ellison, CEO of Ellison Companies;Cathie Wood, the founder of global investment firm ARK Invest; and Jonathan Graham, President of Horus Construction are behind the effort. Baker Barrios would serve as the master planner architect.

The group submitted a 98-page unsolicited proposal to the City of St. Petersburg this morning outlining a $6.8 billion vision for a new mixed-use district anchored by innovation, housing, cultural institutions, and world-class event venues.

The project would be built in four phases over the next 17 years and will include flexibility to accommodate the Tampa Bay Rays should the team remain beyond 2028.

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St. Pete pushes forward on $59 million Tropicana Field repairs as roof installation begins

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St. Pete pushes forward on $59 million Tropicana Field repairs as roof installation begins

Blue netting now surrounds the steel framework of what’s left of Tropicana Field’s roof in downtown St. Petersburg as crews prepare to install the first set of roof panels.

Last October, winds of up to 110 miles per hour from Hurricane Milton shredded the stadium’s fabric roof, causing extensive interior damage.

Now, the City of St. Pete is on the hook for the repairs.

General contractors Hennessy Construction Services and AECOM Hunt are leading the $59 million repair project, with the new roof accounting for more than $23 million of that total.

“Repair progress is well underway at Tropicana Field,” Mayor Ken Welch wrote in a Facebook post Friday, sharing photos of the work.

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St. Pete officially ends Rays redevelopment deal, approve Tropicana Field repairs

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St. Pete officially ends Rays redevelopment deal, approve Tropicana Field repairs

One year after entering into a $6.5 billion redevelopment deal with the Tampa Bay Rays and national developer Hines, St. Pete City Council unanimously voted on Thursday to terminate the agreement.

The deal would have allowed the 86-acre Historic Gas Plant District be to redeveloped into a new mixed-use neighborhood with nearly 8 million square feet of space, including a $1.3 billion baseball stadium.

City Council’s vote was largely procedural, as the Rays and Hines had announced in March that they were withdrawing from the deal after missing key project milestones.

Mayor Ken Welch, who was a strong supporter of the project, addressed the termination in a statement following the vote.

“While the Rays’ decision is terribly disappointing, our mission was to adapt and refocus on our primary objective – the progress of our city,” said Welch. “And part of that mission is accomplished by today’s City Council vote.”

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St. Pete approves $22.5 million to repair Tropicana Field roof

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St. Pete approves $22.5 million to repair Tropicana Field roof

The City of St. Petersburg is moving forward with extensive renovations and repairs to make Tropicana Field playable for the Tampa Bay Rays in 2026.

In October 2024, Hurricane Milton's powerful winds shredded the stadium's fabric roof, allowing rain to pour into the venue. As a result, the stadium sustained significant water and wind damage, rendering it unusable.

In addition to damaging the roof, the storm also compromised critical infrastructure, audiovisual equipment, and the turf field.

Due to the extent of the damage, the Tampa Bay Rays will play their 2025 season at George M. Steinbrenner Field in Tampa.

City officials are hoping to have Tropicana Field ready for baseball in time for the 2026 season. In the meantime, due to the extent of the damage to the Trop, the Tampa Bay Rays will play their 2025 season at George M. Steinbrenner Field in Tampa.

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St. Pete investor offers $260 million to buy 86-acre Tropicana Field site

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St. Pete investor offers $260 million to buy 86-acre Tropicana Field site

Prominent Tampa Bay investor Thompson Whitney Blake is offering the City of St. Petersburg $260 million in an all-cash deal to buy the Gas Plant District following the Tampa Bay Rays' abrupt announcement of abandoning the stadium agreement.

"We, along with all of the other residents in town, have listened to a decade of dialogues, debates, pundits, and prognosticators, lawyers, and talking heads... In our opinion, this project needs someone to do what my mom has always said, 'put your money where your mouth is.' So, here we go," Blake, CEO of private equity firm Blake Investment Partners, wrote in a letter to Mayor Ken Welch and the St. Petersburg City Council.

The offer letter was sent on Thursday, March 13, shortly after the Tampa Bay Rays announced on social media that they were withdrawing from the $1.37 billion deal to build a new stadium in downtown St. Petersburg. The team cited unforeseen challenges from back-to-back hurricanes and prolonged negotiations as reasons for their decision.

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Done Deals: City approves funding for Trop roof repairs, TV personality sells Snell Isle home, Sweetgreen opens in downtown

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Done Deals: City approves funding for Trop roof repairs, TV personality sells Snell Isle home, Sweetgreen opens in downtown

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.

Have real estate news to share? Send us an email at hello@stpeterising.com.

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