The St. Petersburg City Council unanimously approved a plan Thursday to transform land beneath Interstate 275 into public parks and gathering spaces.
But the project still faces a major hurdle before it can take off — how the nonprofit Friends of Trails Crossing will secure the estimated $55 million needed to bring it to life.
John Barkett is the president and co-founder of Friends of Trails Crossing. He said the nonprofit has raised $180,000 to date, with most going towards developing the project's master plan and early renderings.
The organization expects to fund the project in phases through federal and state grants, private donations and corporate sponsorships.
"The funding isn't coming from the city of St. Petersburg, but the city is acting as a good partner in helping sponsor us or be the lead for some of those grants," Barkett said.
Read more: This group wants to build a mixed-use park under I-275 in St. Petersburg
He explained that certain grant programs require a municipality to serve as the lead applicant, making the city's involvement essential — even if it isn't directly financing the construction.
The city and nonprofit have already partnered on a successful $1.38 million federal Reconnecting Communities planning grant.
Barkett said those funds are being used toward traffic studies, which will examine potential changes to nearby streets.
The first phase of the project would focus on improving the Pinellas Trail corridor and creating a more welcoming space for trail users.
But construction is not expected to begin immediately.
"Right now, the way that it's structured, it's roughly two and a half years, and that's really predicated on the current operating agreement between the city of Saint Petersburg and the Rays."
He said changes to that agreement could potentially allow the project to move forward sooner.
