Inside Blake Investment Group's $260 million cash offer for the Tropicana Field site

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Inside Blake Investment Group's $260 million cash offer for the Tropicana Field site

After decades of debate and negotiations for the redevelopment of the Gas Plant District and securing the future home of the Rays, the deal with the team is no longer on the table, but one local developer is ready to sign a big check to make the long-awaited grand vision a reality.

Investor Thompson Whitney Blake, CEO of private equity firm Blake Investment Partners, 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 $1.3 billion stadium agreement.

"My entire strategy is to get public support for a sale of the property and let the private market fix this 86-acre parking lot problem. I don't want to wait any longer," Blake said in a conversation with St. Pete Rising.

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304-unit apartment complex in Largo to convert into affordable housing

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304-unit apartment complex in Largo to convert into affordable housing

The Oasis at Bayside apartment complex in Largo will undergo an extensive renovation to convert the units to affordable housing and update the aging amenities.

Washington, DC-based multifamily investor Gravel Road Partners and Bridge Investment Group, an investment company headquartered in Salt Lake City, Utah, purchased the 304-unit property at 305 Glades Circle on March 12th for $42.25 million.

Berkadia Senior Managing Director Jason Stanton represented the seller, Latitude Management Real Estate Investors of Beverly Hills, California, in the transaction.

The new owners are partnering with Pinellas County to renovate the 1974-built property and dedicate 258 units for tenants earning 50% to 80% of the Area Median Income (AMI). Currently the property has no affordability requirements.

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Habitat for Humanity moves forward on two affordable housing projects in Pinellas County

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Habitat for Humanity moves forward on two affordable housing projects in Pinellas County

The Pinellas County Board of County Commissioners has approved $3 million in funding to support two significant affordable housing projects by Habitat for Humanity Tampa Bay Gulfside.

These developments—located in Clearwater and Lealman—will provide more than 80 new homes for families in need, advancing the county's commitment to affordable housing solutions.

In Lealman, a 5.94-acre parcel of underused land will be developed into a vibrant residential community. Habitat has secured approval to acquire the land from the Housing Finance Authority of Pinellas County (HFA). The plans include 57 new affordable housing units, featuring a mix of 31 single-family homes and 26 townhomes. The county will contribute $2.29 million in funding, supporting the $10.13 million project.

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Renderings revealed for 162-unit condo development proposed for Corey Avenue in St. Pete Beach

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Renderings revealed for 162-unit condo development proposed for Corey Avenue in St. Pete Beach

A prime waterfront parcel in St. Pete Beach may become a new mixed-use condominium development with restaurants, retail, and public green space.

Delray Beach-based real estate developer Kolter Urban unveiled its vision for a property located at the east end Corey Avenue during a Monday evening community meeting at the Sirata Beach Resort.

During the meeting, Kolter showed renderings and a site plan for a 162-unit luxury condo development with 4,000 square feet of restaurant space, 8,540 square feet of retail space, 39 boat slips, and public amenities, such as a park, plaza, and promenade.

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St. Pete approves purchase of three-acre property along Salt Creek for new park

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St. Pete approves purchase of three-acre property along Salt Creek for new park

Nearly three acres of vacant property along Salt Creek may become a lush park space with landscaping, public art, and educational components.

During a Committee of the Whole meeting held on January 23rd, committee members unanimously approved moving forward on pursuing the acquisition of a property located on 4th Street South between 17th Avenue South and 18th Avenue South.

The property comprises 1.7 acres zoned Corridor Commercial Traditional (CCT-1) fronting on 4th Street South and 1.26 acres zoned Neighborhood Suburban Multi-Family (NSM-1).

The city is seeking to purchase the property at or below the asking price of $2.9 million.

The property was appraised in July 2024 with an estimated market value of $2.88 million.

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