News Summary
Tampa Mayor Ken Welch is evaluating a $6.8 billion redevelopment plan for the Historic Gas Plant District, submitted by ARK Ellison Horus LLC. The project seeks to transform 95.5 acres around Tropicana Field into a mixed-use neighborhood with affordable housing, cultural spaces, and innovation hubs. The initiative aims to generate $1.2 billion annually while creating nearly 20,000 jobs and includes plans for a new Tampa Bay Rays stadium. Construction is set to unfold in four phases over 17 years, with over 1,900 housing units and various entertainment facilities proposed.
Tampa, Florida – Mayor Ken Welch is currently reviewing a $6.8 billion redevelopment proposal for the Historic Gas Plant District. The plan was submitted by ARK Ellison Horus LLC, a partnership consisting of ARK Investment Management, Ellison Development, and Horus Construction. This ambitious project aims to transform 95.5 acres surrounding Tropicana Field into a vibrant mixed-use neighborhood.
The proposal features three central commitments: the establishment of cultural spaces, including the Woodson African American Museum; the creation of affordable housing; and the development of innovation hubs that support economic growth. Notably, the vision for this area includes the potential for a new Tampa Bay Rays stadium, although the project does not depend on it for its success.
This new proposal follows an earlier plan which included a $6.5 billion project from the Rays and Hines presented in December 2022. The initial land purchase cost under the new ARK Ellison Horus plan is estimated at $202 million, which encompasses $140 million for the property itself, an additional $50 million in community benefits, and $12 million allocated for the demolition of Tropicana Field.
In terms of economic impact, the proposed redevelopment is expected to generate an impressive $1.2 billion annually, equating to a total of $28 billion over the next 30 years. The project is projected to create nearly 20,000 jobs, spanning both construction and permanent positions.
Housing is another major focus of the redevelopment, with plans to include over 1,900 housing units. This comprises 863 affordable units, 618 senior affordable units, and 444 workforce units, aimed at addressing the pressing need for housing in the area.
The redevelopment will unfold in four phases over a span of 17 years. An important aspect of the plan is its flexibility, allowing for the Tampa Bay Rays to remain in St. Petersburg even beyond 2028 if they choose to do so. Developers envision that more than 30% of the site will be open space, with a notable feature being a 6.7-acre elevated park linking Campbell Park to the Gas Plant neighborhood.
Additionally, the proposal includes various entertainment facilities such as a 4,000-seat indoor music hall, a 1,500-seat outdoor amphitheater, and over 1,500 hotel rooms to enhance the area’s appeal. The plan also emphasizes educational opportunities through initiatives like a Superintendent School dedicated to construction training, a Horus Academy focused on trade education, and workforce readiness programs.
Furthermore, the proposed development offers 500,000 square feet of innovation hubs and labs, along with a 200,000-square-foot conference and research center, projected to create nearly 900 specialized jobs.
Public infrastructure costs linked to the project are estimated at $239 million, which will be funded through a combination of financing sources. The design of this development has garnered praise for its adaptability, making it capable of hosting a wide range of activities, festivals, and promoting community engagement.
Mayor Welch’s office is focusing on assessing the plan to ensure it aligns with the community’s needs and delivers impactful outcomes. Additionally, a press conference has been scheduled for the Rays’ new ownership group to discuss their future, which may have implications for ongoing discussions regarding the Gas Plant redevelopment.
Deeper Dive: News & Info About This Topic
HERE Resources
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St. Petersburg Businesses Propose $6.8 Billion Revitalization
St. Petersburg Plans School and Housing Initiative in Gas Plant District
Woodson African American Museum Plans Major Expansion
Negotiations for the Tampa Bay Rays Continue Amid Deal Termination
St. Petersburg City Council Terminates Rays Stadium Deal
St. Petersburg Invests $8 Billion in Urban Renewal and Resiliency
Tampa Bay Rays Reach Milestone in Ownership Transition
Additional Resources
- St. Pete Catalyst: Tale of the Tape Comparing Two Gas Plant Proposals
- St. Peterising: Massive $6.8 Billion Redevelopment of the Tropicana Field Site Proposed
- Fox 13 News: Local Investors Unveil Redevelopment Proposal for Gas Plant District
- Tampa Bay Business & Wealth: St. Petersburg Gas Plant District Redevelopment
- WTSP: Gas Plant District St. Petersburg Renderings
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
