| Location | Class | Floors |
|---|---|---|
| 1 Tropicana Dr | Mixed-Use | TBD |
| Units | Completion | Website |
|---|---|---|
| TBD | TBD | N/A |
Despite uncertainty surrounding the future of Major League Baseball in St. Petersburg, the City Council has voted to move forward with plans for a new $1.3 billion stadium for the Tampa Bay Rays and the redevelopment of the adjacent 86-acre Historic Gas Plant District.
During a meeting on Thursday, the City Council narrowly approved the issuance of $287.5 million in tax-exempt bonds with a 4-3 vote. These bonds will contribute to the $600 million in public funding for the stadium, along with $142 million allocated for infrastructure improvements in the reimagined district.
Council members Sandra Figgs-Sanders, Copley Gerdes, Brandi Gabbard, and Gina Driscoll voted in favor of the bond issuance, while Richie Floyd, Lisset Hanewicz, and John Muhammad opposed it.
A plan years in the making to build a modern $1.3 billion ballpark for the Tampa Bay Rays in the heart of downtown St. Pete may be completely dead.
On Thursday, St. Petersburg City Council voted to delay a vote that would approve two bonds totaling $287.5 million in tax-exempt funding for the new stadium, following suit with the Pinellas County Commission which voted to delay their bond funding for a second time earlier this week.
The county commissioners and city councilmembers were hesitant to grant the bond resolution due to the Rays’ lack of communication.
It's official - The Tampa Bay Rays have secured local government funding for a new $1.37 billion baseball stadium in a deal that will keep the team in St. Petersburg for decades to come.
In a 5-2 vote on Tuesday afternoon, Pinellas County Commissioners approved contributing $312.5 million of tourism tax revenue towards the construction of the stadium.
The tourism tax revenue is generated by a bed tax restricted to funding tourist-related development such as hotel expansions and other projects driving economic prosperity.
In a historic vote, St. Petersburg City Council voted 5-3 to approve an agreement to build a new 30,000-seat stadium for the Tampa Bay Rays and redevelop the 86-acre Historic Gas Plant District site in downtown St. Pete.
The vote caps off decades of discussion surrounding the team’s future. Council members Deborah Figgs-Sanders, Copley Gerdes, Brandi Gabbard, Ed Montanari, and Gina Driscoll voted in favor of the agreement while Council members Lisset Hanewicz, John Muhammad, and Richie Floyd voted against it.
In total, the project will include nearly 8 million square feet of mixed-use development anchored by a new baseball stadium and cost north of $6.5 billion over 20 years.
Flexible language around promises to bring affordable housing to the area and the lack of transparency on the Tampa Bay Rays partnership agreements are at the top of city council members' minds.
St. Petersburg City Council members met as the Committee of the Whole (COW) Tuesday morning to analyze the details and recent tweaks made to agreements for both the proposed Rays stadium and the Historic Gas Plant redevelopment just two days before they cast their final vote.
The $6.5 billion development, which is being spearheaded by The Rays and Hines, would 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.
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.
Who'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.
A 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.
New 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.
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.