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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Plans have been revealed for two 44-story condominium towers at the site of the Hilton St. Petersburg Bayfront, in what would be one of the largest condo developments ever proposed for downtown St. Pete.
Delray Beach-based Kolter Urban recently circulated a site plan application to neighborhood and business associations outlining a $325 million redevelopment of the hotel property at 333 1st Street South.
If built as proposed, the towers would rise up to 509 feet. Only two existing or planned towers in St. Petersburg would be taller: the 515-foot Residences at 400 Central and the 539-foot Waldorf Astoria Residences planned at 150 2nd Avenue South.
The two new towers, which have been designed by 10 Design, would tie for the city’s third-tallest buildings, ahead of the 450-foot Art House and ONE St. Petersburg towers and the 408-foot Saltaire.
The proposal calls for 325 condo units, 17,988 square feet of commercial space, and a 519-space parking garage.
Kolter would also make 207 spaces in the adjacent Saltaire garage available to residents, for a total of 726 parking spaces.