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Blake Investment Partners, Related Group to Outline Economic Impact and Housing Plan During City Convening on Historic Gas Plant Redevelopment
ST. PETERSBURG, Fla. — Blake Investment Partners (BIP) and Related Group will present key elements of their proposal, known as the “Burg Bid,” for the redevelopment of the Historic Gas Plant District at a City of St. Petersburg community convening tonight, emphasizing economic impact, housing, and a development approach designed to deliver community benefits from the earliest phases.
Tonight’s convening will provide residents with the opportunity to hear directly from four shortlisted development teams, ask questions, and engage in a conversation about one of the most significant redevelopment projects in the city’s history.
The Burg Bid represents a comprehensive, community-driven vision led by a St. Petersburg–rooted team and supported by nationally recognized development partners, shaped through extensive engagement with residents and interest holders.The plan emphasizes long-term value for the city while remaining grounded in the history and identity of the Historic Gas Plant District.
“This is a defining moment for St. Petersburg,” said BIP chief executive officer and founder Thompson Whitney Blake. “We’ve approached this process by listening closely to the community and building a proposal that reflects both the history of this site and the opportunity ahead. We look forward to engaging with residents tonight and continuing that dialogue.”
The Burg Bid outlines a total development investment of $8.1 billion and is projected to generate more than 30,000 jobs and over $2.7 billion in long-term tax revenue. The proposal also includes a commitment of $3.3 billion in participation from small and diverse businesses, positioning the project as a major economic driver for the region over the next several decades.
Housing is a central component of the plan. The Burg Bid proposes 3,600 affordable and workforce housing units, the largest such initiative in the city’s history, with 1,800 units located within the redevelopment site and an additional 1,800 units developed offsite to expand access to affordable housing citywide. These homes are integrated within a broader mixed-use plan that includes housing across all income levels, office, hotel, retail, museums, and public space, creating a balanced, connected neighborhood.
The proposal also delivers the strongest financial return to the city among the competing bids. It includes a $405 million land valuation, a $275 million direct payment to the city to develop 58 acres of the project while leaving the other 28 acres as parkland and public right-of-way, and a $20 million upfront deposit. The plan is structured so that no additional City infrastructure funding is required beyond existing Community Redevelopment Area (CRA) commitments.
A key differentiator of the Burg Bid is its approach to phasing. Rather than deferring community benefits to later stages, the development is designed so that each phase includes a mix of housing, retail, public space, and community amenities. This structure ensures that residents experience meaningful benefits early in the process and that progress remains balanced and consistent over time.
The proposal also centers on honoring the legacy of the Historic Gas Plant District. A defining feature is the placement of the Dr. Carter G. Woodson African American Museum as a central anchor within the development, reinforcing a commitment to preserving and elevating the history and cultural identity of the community.
Additionally, they have implemented the Historic Gas Plant Visionary Panel – an independent panel of local leaders that will ensure community feedback and vision throughout the life span of the development process.
BIP and Related Group have assembled a team with extensive experience delivering large-scale, complex developments, including partners such as Skanska, Gilbane, Greystar, KAST, Wade Trim, Stantec, Langan Engineering, and Blue Sky Communities. Together, the team brings the capacity and track record needed to execute a project of this scale. The team also includes Wannemacher Jensen Architects, a key leader of the design team behind the St. Pete Pier, bringing local design experience and a proven track record in shaping one of the city’s most celebrated public spaces.
The Burg Bid is designed to align with the City of St. Petersburg’s stated priorities, including the Mayor’s Pillars of Progress and the guiding principles outlined in the redevelopment process. BIP and Related Group believe this alignment, combined with a clear implementation strategy, positions the proposal for a smooth transition from selection to execution.
Community members are encouraged to attend tonight’s convening and participate in the discussion as the City continues its selection process for the redevelopment.
About Blake Investment Partners
Blake Investment Partners is an institutional investment firm focused on transformative real estate development and community-centered redevelopment initiatives. The firm has been a steadfast partner in St. Petersburg’s growth for 23 years. With more than 200 completed projects across the Southeast and a portfolio that demonstrates both scale and sophistication, BIP brings expertise in mixed-use development, community planning, and long-term value creation. The firm’s patient approach to investment and commitment to stewardship distinguishes it as a developer that prioritizes lasting community benefit over short-term gains.
About Related Group
Since 1979, Related Group has enhanced skylines with iconic developments characterized by innovative design, enduring quality and inclusive living. Through groundbreaking partnerships with world-renowned architects, designers and artists, Related has redefined urban environments on a global scale, fostering distinctive, dynamic communities and symbolic landmarks that have become sources of local pride. To date, Related has built and managed more than 100,000 condominium and apartment residences that are meticulously designed with finishes and amenities that transform buildings into vibrant residential environments. Related doesn’t just create neighborhoods…it builds legacies.
Visit www.historicgasplant.com for more information on the Burg Bid.
A video overview of the Burg Bid proposal can be viewed here: https://www.youtube.com/watch?
