Quick Answer: St. Petersburg selected The Burg Bid, led by Blake Investment Partners, on July 2, 2026 to redevelop about 58 acres of the 86-acre Historic Gas Plant District around Tropicana Field. The roughly $8.1 billion mixed-use plan now enters about a year of negotiations, with binding agreements expected before City Council in mid-2027. Construction cannot begin until Council approves a final agreement, and the Rays’ lease at Tropicana Field runs through 2028.
Key Takeaways
- Mayor Ken Welch picked two partners: The Burg Bid for the bulk of the site and the Pinellas County Housing Authority for an affordable senior-housing parcel on 3rd Avenue South.
- The Burg Bid offered $275 million cash for 58 acres, the highest land offer submitted, while the city keeps roughly a third of the district.
- The plan promises 3,600-plus affordable and workforce housing units, a 13-acre central park, a new Woodson African American Museum of Florida, hotels, offices and retail.
- No shovels move until a term sheet, Community Benefits Agreement review and City Council vote are complete, and Tropicana Field’s demolition depends on the Rays’ lease outcome.
What Is the Historic Gas Plant District?
The Historic Gas Plant District is an 86-acre city-owned tract in downtown St. Petersburg that includes Tropicana Field and its parking lots. It is named for the predominantly Black neighborhoods that were cleared in the 1980s to make way for the stadium, and the city has pledged since 2022 to deliver jobs, housing and equitable economic development on the land in recognition of that history.
This is the fourth time in 20 years the city has run a request-for-proposal process for the site. The most recent prior attempt, a $6.5 billion agreement with the Tampa Bay Rays and Hines, collapsed in the aftermath of Hurricane Milton, which tore the roof off Tropicana Field in October 2024.
How Did the City Get Here? A Timeline
| Date | Milestone |
|---|---|
| 2022–2023 | City selects Rays-Hines for a $6.5B ballpark-anchored district |
| Oct 2024 | Hurricane Milton destroys the Trop roof; Rays deal unravels in early 2025 |
| Oct 2025 | ARK Invest/Ellison/Horus files unsolicited bid; city reopens process |
| Jan 4–Feb 3, 2026 | Public notice; nine proposals submitted, none with a ballpark |
| March 2026 | Staff shortlist four teams; ULI study begins in April |
| April 30, 2026 | Public open house with finalists at the Coliseum (500+ attend) |
| July 2, 2026 | Welch selects The Burg Bid and Pinellas County Housing Authority |
| July 2026 | Community Benefits Advisory Council meetings |
| Late 2026–2027 | Term sheet and development agreement negotiations |
| Mid-2027 (est.) | Binding contracts go to City Council for approval |
| 2028 | Rays’ Tropicana Field lease expires |
Welch extended the submission window in late 2025 after Council members pushed for more time, setting a Jan. 4 notice date and a Feb. 3 deadline, effectively a 105-day window from the October announcement. By March 31 the city had completed initial staff evaluations and published them on its Gas Plant page, and scheduled the April 30 public meeting with shortlisted developers.
Who Is Building It?
Blake Investment Partners, led by St. Petersburg native Thompson Whitney Blake, is the master developer, with Miami-based Related Group as co-developer and Elliott Investment Management as capital partner. The broader team includes Skanska, Greystar, Gilbane, Blue Sky Communities, Open Realty and Stadler Development. Power Design, the city’s largest private employer, has also joined the team.
The Burg Bid beat three other shortlisted finalists: Ark Ellison Horus, Foundation Vision Partners and the Pinellas County Housing Authority. The team valued the property at $405 million, including the $275 million purchase offer for 58 acres and a $20 million deposit due when a purchase agreement is executed.
What Gets Built and When?
| Component | Detail |
|---|---|
| Total investment | ~$8.1 billion |
| Land acquired | ~58 acres for $275M; city retains ~1/3 of district |
| Housing | 3,600+ income-restricted units, about half on-site |
| Open space | 13-acre central park, museum row |
| Anchor | New Woodson African American Museum of Florida |
| Commercial | Office, retail, hotels, event center |
| Workforce | Training center and small-business success center |
| Transit | Bus link connecting district to downtown |
Sequencing matters for local businesses. Blake has said the Woodson Museum is the lead project, with everything else revolving around the outcome of the Rays’ Tropicana Field lease. Broader vertical development is expected to begin as land becomes available.
What About the Rays and Tropicana Field?
Tropicana Field is proposed for demolition under the long-term plan, but the Rays remain under contract to play there through 2028, and city officials have said an extension may be needed while negotiations continue. The team has a non-binding agreement for a $2.3 billion stadium in Tampa’s Drew Park. Until the Rays’ future is settled, the stadium footprint is effectively frozen, which means the earliest activity will be on the surface-lot parcels and the museum site rather than the stadium itself.
How Does This Affect St. Pete Businesses?
Construction and trades. An $8 billion build-out over a decade or more is a generational pipeline for Tampa Bay contractors, engineers and suppliers. Minority business participation commitments are being written into the Community Benefits Agreement, so certified local firms should register with the city now.
Commercial real estate. Property owners along Central Avenue, the Edge District and the SunRunner corridor gain a long-term anchor tenant in the form of thousands of new residents. Expect land pricing near the district to reflect the July selection well before any permit is pulled.
Retail and hospitality. The plan’s hotel, event-center and museum-row components target visitor traffic that currently only arrives 81 game days a year. That is a different customer base than the Trop delivers today.
Workforce. The proposed training and small-business success center is aimed at South St. Pete residents and could become a hiring channel for downtown employers.
Risk factors. Council approval is not guaranteed; the Rays-Hines deal died after Council had already approved bonds. Council member Brandi Gabbard, who is running against Welch for mayor, previously paused the process in February with a resolution demanding an independent planning framework. A change in administration could reset assumptions before contracts are signed.
Brian’s Take
The Burg Bid is the most financeable plan the city has entertained, mainly because it does not depend on a baseball stadium to pencil. A $275 million cash offer, Elliott’s balance sheet and Related’s execution record are credible. The hard part is the calendar. Nothing meaningful can be built on the stadium footprint until the Rays question is resolved, and the political window between now and a mid-2027 Council vote runs straight through a mayoral election. For business owners, the practical takeaway is that the museum and edge parcels are 2028–2030 opportunities; the core district is a 2030s story. Plan accordingly.
Frequently Asked Questions
Has construction started on the Gas Plant District? No. Construction requires a City Council-approved development agreement, expected in mid-2027 at the earliest.
How much is the Burg Bid paying for the land? $275 million for approximately 58 acres, with the city retaining roughly one-third of the district.
Will Tropicana Field be torn down? The plan calls for it, but only after the Rays’ lease, which runs through 2028, is resolved.
Who else bid? Nine teams submitted proposals, including ARK Invest’s group with Ellison Companies and Horus Construction, Foundation Vision Partners, Freedom Communities, Logical Sites, Reparations Land Trust and Tampa Bay Boom.
How can local businesses get involved? Watch the city’s Gas Plant page for Community Benefits Advisory Council meetings and minority-business participation registration as the term sheet is drafted.
Sources and Further Reading
- City of St. Petersburg, “Mayor Kenneth T. Welch Announces Proposal Selections for Historic Gas Plant District Project,” July 2, 2026 — https://www.stpete.org/news_detail_T30_R1676.php
- City of St. Petersburg, Historic Gas Plant District Redevelopment project page — https://www.stpete.org/residents/current_projects/historic_gas_plant.php
- City of St. Petersburg, “Tentative Timeline for Historic Gas Plant Redevelopment Proposal Selection,” March 31, 2026 — https://www.stpete.org/news_detail_T30_R1616.php
- Florida YIMBY, “The Burg Bid Selected To Redevelop 86-Acre Historic Gas Plant District,” July 3, 2026 — https://floridayimby.com/2026/07/the-burg-bid-selected-to-redevelop-86-acre-historic-gas-plant-district-in-st-petersburg.html
- St. Pete Rising, “Mayor Welch selects team to redevelop Historic Gas Plant District,” July 7, 2026 — https://stpeterising.com/home/mayor-welch-selects-team-to-redevelop-historic-gas-plant-district-in-downtown-st-pete
- WUSF, “St. Petersburg wants to redevelop the Gas Plant District. This time, without a ballpark,” May 4, 2026 — https://www.wusf.org/economy-business/2026-05-04/st-petersburg-redevelop-gas-plant-district-without-ballpark
- Florida Politics, “Ken Welch delays historic Gas Plant district redevelopment timeline into 2026,” Nov. 12, 2025 — https://floridapolitics.com/archives/765332-ken-welch-delays-historic-gas-plant-district-redevelopment-timeline-into-2026/
- Creative Loafing Tampa, “Mayor Ken Welch confirms ‘Burg Bid’ for St. Pete’s Gas Plant proposal,” July 2, 2026 — https://www.cltampa.com/news/photos-mayor-ken-welch-confirms-burg-bid-for-st-petes-gas-plant-proposal-with-plans-to-tear-down-tropicana-field/
