The Tampa Bay Rays have reached an agreement with the City of St. Petersburg and Pinellas County to move forward with the development of a new ballpark, on the site of Tropicana Field, and a development project with the Hines Historic Gas Plant Partnership.
Plans for the ballpark include a capacity of around 30,000 for baseball, with the ability to accommodate up to 35,000 for other events. The Rays will pay more than half of the $1.3 billion ballpark and be responsible for any cost overruns. Pinellas County and the City of St. Petersburg will contribute approximately $600 million, combined, in equal amounts.
“This will be a transformative project for the Rays, St. Petersburg and Pinellas County,” said Stu Sternberg, owner of the Tampa Bay Rays, in a statement. “We have proudly served as Tampa Bay’s Major League team for 25 years and we are thrilled to be in a position to do so for decades, and generations, to come.”
Construction on the development is expected to begin in late 2024, in the first of two phases. The team will continue to play in the existing ballpark, on the site, until the end of its current lease with the City of St. Petersburg, in 2027. Phase 1 of the development and the new ballpark are projected to be ready by opening day 2028.
The project includes an investment of more than $6.5 billion, in St. Petersburg, over 20 years and, as proposed now, would be the largest mixed-use development project in Tampa Bay history.
“Our transformational development of 86 acres in the heart of St. Petersburg will benefit St. Pete and Tampa Bay residents for generations to come,” said St. Petersburg Mayor Ken Welch, in a statement. “The Rays are here to stay and it’s also critical to underscore that this impactful work is much bigger than baseball and extends far beyond the 17-acre ballpark.
The agreement increases the number of affordable/workforce housing units to be built by the partnership to 1,200, with at least half of that amount to be built on the Historic Gas Plant site. It also adds on-site affordable units for seniors.
Hines is a privately held real estate developer and manager.
- Once fully built, the project is planned to include:
- 4,800 residential units
- 1,200 affordable/workforce residential units (on and off-site)
- 600 senior living units
- 1,400,000 square feet of office, medical and commercial space
- 750,000 square feet of retail
- 750 hotel rooms
- 100,000 square feet of entertainment space, including a concert venue to seat up to 4,000
- 50,000 square feet of civic space, namely a new home for the Carter G. Woodson African American Museum
- 90,000 – 100,000 square feet of conference, ballroom and meeting space
- 14 acres of public open space
- 14,000 parking spaces
The public approval process by Pinellas County and the City of St. Petersburg is expected to begin this fall.
