Know
Tale of the tape: Comparing two Gas Plant proposals
“We continue to explore, identify and review the most impactful avenues to develop the Historic Gas Plant District.”
Part 1 of 2.
Mayor Ken Welch is reviewing a new $6.8 billion proposal to reimagine the Historic Gas Plant District “in detail.” How does it compare with what the Tampa Bay Rays had planned?
The Rays and global development firm Hines submitted a 243-page proposal for a $6.5 billion project in December 2022. A local group led by St. Petersburg-based ARK Investment Management unveiled its 98-page, $6.8 billion vision for Tropicana Field and the surrounding area Oct. 3.
The most glaring difference between the two is that the latter “preserves the option” for a new Rays stadium, “but is not dependent on it.” While new team ownership likely prefers to build a ballpark in Tampa, Welch had a “productive” meeting with the group following Tuesday’s introductory press conference.
“As the team’s leadership continues to settle into their positions, I anticipate ongoing conversations about the future of Major League Baseball in St. Petersburg,” Welch said in a prepared statement. “I look forward to learning more about the ownership group’s goals and vision for the Rays.
“We know that there’s a lot of interest in the City of St. Petersburg and, especially, the Historic Gas Plant District right now. As a result, we continue to explore, identify and review the most impactful avenues to develop the Historic Gas Plant District.”
Costs
ARK, Ellison Development and Horus Construction offered to purchase the initial 86-acre Gas Plant site and an additional 9.5 acres for $202 million. That equates to $2.1 million per acre, which the group believes reflects the project’s “premier location and the transformative potential.”
The purchase price includes $140 million for the land, $50 million in community benefits and $12 million to demolish the Trop. Ark Ellison Horus plans to pay for an estimated $239 million in infrastructure costs through a mix of bonds, tax increment financing and capital improvement program funding.
The Rays planned to purchase 65 acres for $105 million – $1.6 million per acre – and also offered $50 million in community benefits. City officials agreed to contribute $142 million for infrastructure, and the team exited the arduously negotiated deal in March due to delays and cost increases.
Additional public funding, including $287.5 million from the city and $312.5 million in Pinellas County tourism tax dollars, would have subsidized stadium construction costs. However, the latter government would have owned the 13-acre ballpark site.
The team’s new ownership will still ask local governments on one side of the bay to help pay for a new stadium. Ark Ellison Horus pledged to build a district that will “thrive with or without the Rays.”
“With a modest $120 million public investment, the district will unlock maximum returns from private capital, tourism and venture funding,” states the proposal.
An aerial view of Ark Ellison Horus’ vision for the Gas Plant.
Attractions
Ark Ellison Horus plans to develop 67.25 acres and dedicate the remaining 28.29 to open space. The developers would pay $3 million per developable acre.
Hines and the Rays planned to develop just under 36 acres, dedicating 14 acres to open space. That equates to $2.9 million per developable acre, and the land is arguably more valuable now than it was when the former development team submitted its proposal or reached a deal with the city in July 2024.
Ark Ellison Horus will allocate 42 acres to public organizations. The project includes a 750,000-square-foot academic cluster, 500,000 square feet of innovation hubs and labs, a 200,000-square-foot Innovation Hall for conferences, 218,500 square feet of storefronts and 1,543 hotel rooms “across mixed-use towers” and 1.2 million square feet of Class A office space.
Entertainment venues include an 80,000 square-foot music hall, a 1,500-seat Stage House Amphitheater and a “festival-ready” Convergence Park. Ark Ellison Horus called the district a “global draw” with the capacity to host 300,000 to 400,000 people over a 10-day festival, comparable to South by Southwest (SXSW) in Austin.
“The new proposal, which is different from how I’ve been thinking about it, has multiple ways to draw people to the site,” City Council Chair Copley Gerdes told the Catalyst. “Through festivals, meeting spaces, concert venues, the museum – they’ve picked 10 or 12 different ways to bring people to the site, and I think that’s a unique perspective.”
The Rays proposed 1.4 million square feet of Class A office and medical space, a 90,000-square-foot conference center and ballroom, 730,000 square feet of retail businesses, a 20,000-square-foot grocery store, 750 hotel rooms, a childcare center and a startup incubator. It also included 100,000 square feet of entertainment space, in addition to the 30,000-seat stadium.
An aerial view of the Tampa Bay Rays and Hines’ vision for the Gas Plant.
Both development teams dedicated 50,000 square feet to a new Woodson African American Museum of Florida, although the Rays pledged to contribute $10 million toward construction. Ark Ellison Horus also plans to create a 20,000-square-foot arts and cultural center.
“This is more than a redevelopment; it is a chance to reshape the future of the City in a way that is inclusive, equitable and lasting,” states the proposal.
The two development teams also included big plans for Booker Creek. The Rays and Hines envisioned a revitalized and reconnected stream with art installations, pocket parks, an educational boardwalk, stormwater gardens and a community lawn and pavilion.
Without providing the same level of detail, Ark Hines Horus included a “Booker Creek Promenade” as part of 17.8 open acres. However, the group’s announcement noted that the “Booker Creek Cultural Corridor” will also offer public art, history installations and year-round programming.
Next: Part 2 will compare efforts to fulfill broken promises at the site, proposed housing, expected economic impacts and the development teams.
Alan DeLisle
October 14, 2025at9:34 am
Please bring in a proven and experienced economic developer with an expertise in complicated public-private economic development before you do anything. This Mayor and most of this Council do not have a clue, nor does the Chamber and most of the so called advocates. Proposals have little worth until they get thoroughly fleshed out.
Firm term-sheets/confirmed business deal-points is what matters because that evolves into a binding development agreement. Don’t make a selection until all the details are resolved. The “process” of getting commitments is way more important than any proposal.
St Pete, please, please be a lot smarter this time around. There is a way to do this right. The last “process” was all wrong and the results reflected it.
Hugh Hazeltine
October 13, 2025at7:28 pm
2026 will be an election year. The Mayor’s seat and one half of the city council seats will be on the ballot. District 2 held by Brandi Gabbard will be term limited. District 4 held by Lisset Hanewicz, no announcement yet if she will seek re-election. District 6 held by Gina Driscoll will be term limited. District 8 held by Richie Floyd, no announcement yet if he will seek re-election.
I received a survey in email from Mayor Welch’s campaign. In it, they asked for preferences for Mayor between, Ken Welch, Charlie Crist, and Brandi Gabbard. I was surprised they left out Maria Scruggs who has already announced and has a website up.
The person who is elected Mayor in 2026 will determine what plan will go before council for the development of the Tropicana site. These decisions will set the course for the city for decades to come. Please vote and be an informed voter.
S. Rose Smith-Hayes
October 12, 2025at1:45 pm
What about a Resort, good for out of town visitors and for locals that want a night or two away from home?? We are close enough to Disney and our beautiful beaches to house visitors. Whatever goes there, please do Not make us residents pay for it if investors are willing to do so. I would love to see the African American museum there since this space was home to many of us until the landlords refused to clean up their properties. All Black owned property there was well maintained.
Ralph Warmack
October 12, 2025at10:51 am
Ark Ellison Horus is offering $140 million for 95.5 acres = $1.47 million per acre. Rays Hines offered $105 million for 65 acres = $1.6 million per acre. Community benefits and Trop demolition are separate offerings. Just saying, report the facts correctly.
Ryan Todd
October 12, 2025at7:30 am
$12 million to demolish the Trop. That’s roughly 1/7th of what our city councilmen have agree to spend to repair the Trop which will operate seasonally for two years at best.
Let the Rays sue us if they dare.
Stop Trop repairs and spending now.
Steve Sullivan
October 13, 2025at10:53 am
The Ark has not even been open 2 yrs . Also it’s a great idea which allows for creating and funding jobs and companies of the future that will be high earning. Also it creates a designation venue during daylight and evening hours instead of just ars and retail
Ron Diner
October 12, 2025at1:08 am
Ellison Proposal
A music hall – we already have the Mahaffey downtown.
An Amphitheater – when the Rays move they will likely take the Rowdies with them – we then have Al Lang Stadium.
$239 million in infrastructure costs – sounds like the city is paying for that.
Pay $3 million per developable acre – how about an appraisal – the land could be worth $20 million per developable acre.
500,000 sq ft of innovation hubs? Who’s paying for that? Why does that work – The Ark Innovation Center has been almost empty for the last 2 years. Where is the support for whatever this is?
200,000 sq ft Innovation Hall ? Who says we need it, who says it will work – lots of competition in other halls. Who pays for it. Read my post on homerunsmatter.com
I agree – who wants an entertainment center near where you live or work?
What is Ellison’s track record building such a huge development.
Where is research to support all these ideas? Where has there been community input including subject matter experts/
Warren Clown
October 11, 2025at7:51 pm
What happened to all the developers who submitted bids in 2020?
Darren Ginn
October 11, 2025at3:49 pm
St. Pete does not need a giant amusement park to attract hordes of people that will overrun our hip little city. It’s bad enough that increasing numbers of people are disrespectful so imagine the problems with so many people descending upon the city that don’t care how they behave.
There are developer entities that would love to create what amounts to a giant amusement park and laugh all the way to the bank leaving all the problems it would create to city government and citizens who live here.
Darren Winslow
October 11, 2025at6:21 pm
I agree with you 100%!!!