St. Petersburg Gas Plant District: 9 Redevelopment Proposals Received

St. Petersburg, Florida, is currently evaluating nine proposals for the redevelopment of the 86-acre Historic Gas Plant District, a project that includes the site of Tropicana Field. The city opened a 30-day request for proposals (RFP) process in January, spurred by an unsolicited $6.8 billion proposal submitted late last year by a local group.

The unsolicited proposal was led by Casey Ellison, founder and CEO of Ellison Cos., Cathie Wood, CEO and chief investment officer of ARK Invest, and Jonathan Graham, president of Horus Construction. That group remains under consideration as the city assesses the nine bids received.

The Gas Plant District holds a complex history. It was a historically Black neighborhood that was demolished to make way for the construction of Tropicana Field and Interstate 175. Residents were reportedly promised economic opportunities as a result of these projects, but those promises, according to local accounts, were never fully realized.

Mayor Kenneth Welch indicated on Monday, February 2nd, that the evaluation process will be thorough. “The team will evaluate strengths and weaknesses of the proposals. We’ll have a public forum where the developers will present to our community. We’ll have the community benefits process as well, and then I will select one of those developers,” he stated. He acknowledged the process is expected to take several months.

This represents not the first attempt to redevelop the district. In September 2023, the Tampa Bay Rays and a development partner were initially selected to build a $6 billion multiuse project, including a new stadium. However, the team’s previous ownership group subsequently backed out of that agreement. The current owners of the Rays are now planning to construct a stadium in Tampa, on the site of Hillsborough College.

The Tampa Bay Rays’ lease at Tropicana Field is set to expire at the end of the 2028 season, adding a degree of urgency to the redevelopment plans. The future of the 86-acre site remains uncertain as the city of St. Petersburg carefully considers the nine proposals before it.

The city has not yet established a firm timeline for announcing a decision, according to a city spokesperson who spoke on Tuesday, February 3rd.

The redevelopment of the Gas Plant District represents more than just a real estate project; it is a chance to address historical inequities and deliver on long-delayed promises to a community that was significantly impacted by previous development initiatives. The selection process will likely be scrutinized by residents and stakeholders who are eager to see a plan that prioritizes community benefits and economic opportunity.

The scale of the proposals suggests significant investment interest in the area. The $6.8 billion unsolicited bid from Ellison, Wood, and Graham demonstrates the potential for large-scale development, while the city’s open RFP process ensures a competitive landscape. The proposals will be evaluated not only on their financial viability but also on their potential to create jobs, provide affordable housing, and enhance the quality of life for residents.

The decision facing Mayor Welch and the city council is complex. Balancing the interests of developers, residents, and the Tampa Bay Rays will require careful consideration and a commitment to transparency. The outcome of this process will have a lasting impact on the future of St. Petersburg and the surrounding region.

The previous attempt to secure a development partner with the Rays highlighted the challenges of large-scale projects, particularly those involving public-private partnerships. The collapse of that deal underscores the importance of due diligence and a clear understanding of the risks involved. The city will likely be cautious in its approach this time around, seeking a developer with a proven track record and a long-term commitment to the project.

The redevelopment of the Gas Plant District also has broader implications for the Tampa Bay area. The region is experiencing rapid growth, and there is a growing demand for housing, jobs, and entertainment options. A successful redevelopment project could help to attract new businesses and residents to St. Petersburg, boosting the local economy and enhancing the city’s reputation as a vibrant and desirable place to live.