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Historic Gas Plant District Update 12/05/22

Tampa Bay Rays and Hines Provide Details of Plan for Historic Gas Plant District

 

 

The Tampa Bay Rays are partnering with Hines, a global real estate development and investment firm, on a plan for the redevelopment of downtown St. Petersburg’s Historic Gas Plant District. The Hines-Rays proposal includes over 5,700 multi-family housing units, 1.4 million square feet of office space, 300,000 square feet of retail space, 700 hotel rooms, 600 senior living residences, a 2,500-person entertainment venue and various civic uses along with a new “state-of-the-art” ballpark for the Rays. Spanning 86 acres nestled in the middle of St. Pete, with one of the most vibrant and walkable communities in the nation, the Historic Gas Plant District (formally known as the Tropicana Field site) represents an opportunity unlike any other in the Southeast. The site is currently occupied by Tropicana Field, home of the Tampa Bay Rays major league baseball team. The Rays’ lease with the city expires in 2027.  Proposals for re-development were required to include plans with a new baseball stadium and call for residential units, to include affordable housing, office space, retail space and green space.  Four groups submitted proposals prior to the deadline, which was December 2, 2022. In addition to Sugar Hill Partners, the other groups are 50 Plus 1 Sports, Hines & Tampa Bay Rays, and Restoration Associates.

 

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