A new proposal to reimagine Tropicana Field and the surrounding area includes a stadium option. It also accommodates the Tampa Bay Rays, who will remain in St. Petersburg through 2028.
The local development team also realizes that the Rays could continue playing at the Trop until after the 2033 baseball season. Identifying a new site, securing another stadium deal and completing construction will take a new ownership group several years, necessitating the need for a lease extension.
ARK Investment Management, Ellison Development and Horus Construction’s proposal states that the $6.8 billion project’s third of four phases spans from 2033 to 2040, “following the demolition of Tropicana Field.” Council Chair Copley Gerdes thought it “made a lot of sense” for the developers to consider multiple scenarios.
“It’s got an option that if the city wanted to move forward with its relationship with the Rays, and the Rays wanted to do that with the city, there is space that they’ve left,” Gerdes told the Catalyst. “It’s approximately 13 or 14 acres to put a stadium on while the full-scale development continues.
“The Rays and St. Pete can negotiate that land, and they’ll stay out of it.”
A previous report stated that the then-unreleased proposal did not include a stadium. The developers noted the downfalls of a “stadium-centric” plan for the site, but never said it wouldn’t include a ballpark.
Also, it would make little sense to tout a new stadium at this juncture. Mayor Ken Welch, who is reviewing the proposal “in detail,” went through what amounted to a nasty divorce with former Rays owner Stuart Sternberg after he exited an arduously negotiated redevelopment deal in March.
In addition, the new ownership group has yet to hold an introductory press conference. That will occur Tuesday morning at Tampa’s Steinbrenner Field, where the Rays spent the 2025 season while the city repairs a storm-damaged Trop.
The 98-page proposal begins with an executive summary. It states that Ark Ellison Horus would build the Historic Gas Plant District to “thrive with or without the Rays.”
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“St. Petersburg has a bright future, with or without the Rays,” the developers added. “This proposal delivers exactly that.”
Gerdes noted that many people expect the Rays to prioritize a stadium site in Tampa, “which I personally don’t believe is the best thing for the organization.” He appreciated that the proposal “doesn’t put St. Pete in a corner when having those discussions with the new ownership group.”
“We’ve got flexibility,” Gerdes added. “And if you know anything about the mayor, and certainly me on the council – I love the ability to be flexible.”
Welch has said he would consider a lease extension at the Trop, which is currently receiving about $75 million in repairs, and a stadium deal with new owners. Gerdes said that if he were the owner, he would find a $6.8 billion redevelopment surrounding a stadium enticing.
“That certainly would be attractive to me when I don’t have to put a penny in the deal, all I have to do is focus on the stadium,” Gerdes continued. “Now you’ve got jobs, apartments, attractions … and I didn’t have to do anything other than put the stadium there. That would certainly be attractive to me.”
The developers wrote that the 95.5-acre project would generate a $28 billion economic impact over 30 years, an $8 billion increase over the “prior stadium-centric proposal.” They also said the ambitious plan provides “a seamless path forward, whether the team stays or not.”
The redevelopment’s anchors include a 750,000-square-foot academic and research cluster, a 1.15 million-square-foot innovation campus, the Woodson African American Museum of Florida, an indoor music hall, an outdoor amphitheater and a 1,543-key hotel.
“I think they uniquely brought multiple ways to bring people to the site, rather than just one major one,” Gerdes said. “I think this site has to be more than just apartments and jobs. There had to be a lift to that area.
“And I believe what they did, which was unique, they created multiple lifts.”
If approved, the project’s $343 million first phase would begin in 2026 and features the museum, 446 affordable housing units and streetscape enhancements. That aligns with mayoral priorities for the city-controlled parcels. Construction would not impact parking at the Trop.
Ark Ellison Horus wrote that the $2.42 billion second phase would span from 2027 through 2034 as “Tropicana Field continues to operate.” The “most ambitious stage” includes the stadium option and a dedicated, adjacent parking garage.
Cathie Wood, founder and CEO of ARK Invest, staunchly supported the Rays and their previous proposal. If Welch finds the latest redevelopment proposal intriguing, as rumored, he would launch a public submission process. The city council must ultimately approve a selected applicant.
“I think, from a 30,000-foot view, this checks a lot of boxes,” Gerdes said. “It’s got economic development. It attracts people to the site. It has an option that the stadium could be built.
“I think it was very prudent of the group to go with both scenarios and have a full-scale plan if the Rays decide to leave the location.”
