The Tampa Bay Rays have recently unveiled a proposal for a new 30,000-seat ballpark as part of a larger $6 billion redevelopment project in St. Petersburg, Florida. The comprehensive plan includes the construction of affordable housing, a hotel, a Black history museum, and various other amenities. The financing details of the project were presented to the St. Petersburg City Council, with the Rays aiming to secure government approvals by March in order to meet their target opening day of the 2028 season.
The proposed $1.3 billion ballpark would be situated on the same 86-acre tract of downtown land where the current Tropicana Field stands. If approved, the existing domed stadium that has been the Rays’ home since 1998 would be demolished to make way for the new facility. The agreement, which was announced last month, aims to ensure that the Rays remain in the area for at least the next 30 years, putting an end to speculations of a potential relocation to Tampa or any other city. Additionally, this plan aims to address previous shortcomings in terms of promises made to the Gas Plant District, a predominantly Black neighborhood that was displaced during the construction of the existing stadium and an interstate highway.
The proposed financing plan entails a collaborative effort from the city, Pinellas County, the Rays, and their partner Hines company. The city of St. Petersburg is expected to contribute a total of $417.5 million towards the project, with $287.5 million allocated for the ballpark itself and $130 million for infrastructure improvements related to the wider redevelopment. This infrastructure investment encompasses sewage systems, traffic signals, and roads, among other crucial elements necessary to support the development. The city plans to issue bonds to cover its share, without imposing any new or increased taxes.
Pinellas County has also pledged their support for the new ballpark, committing approximately $312.5 million towards the project. The funding would come from a bed tax primarily funded by visitors, which is specifically earmarked for tourist-related and economic development expenses. This contribution demonstrates the county’s commitment to the revitalization of the area and sets a strong foundation for the success of the broader redevelopment endeavor.
The Tampa Bay Rays will be responsible for the remaining costs associated with the construction of the ballpark, amounting to approximately $600 million. This includes any potential cost overruns during the construction phase. In return for their significant financial contribution, the team will have the naming rights to the new facility, which could generate substantial annual revenue. The exact value of these naming rights is estimated to be over $10 million per year. The Rays’ commitment to the project showcases their dedication to the community and their determination to establish a long-lasting legacy in the region.
The broader Gas Plant District redevelopment project is expected to span over 20 years, transforming the area into a vibrant and inclusive hub. The plans for this district include the construction of 1,200 units of affordable housing, a 750-bed hotel, retail and office spaces, a Black history museum, and a performing arts center. These additions will not only enhance the cultural and economic landscape of the region but also fulfill the promises made to the Gas Plant District community many years ago, which were not adequately delivered upon.
The Tampa Bay Rays’ proposal for a new ballpark and the accompanying $6 billion redevelopment project exemplify a promising future for St. Petersburg. This comprehensive plan not only secures the team’s long-term presence in the region but also addresses historical injustices and provides opportunities for economic growth and cultural enrichment. With the support of the city, Pinellas County, and the Rays themselves, this ambitious undertaking has the potential to transform and revitalize the Gas Plant District, leaving a lasting legacy for generations to come. As the approval process gets underway, all stakeholders are hopeful that swift action will be taken to ensure that construction remains on schedule for the exciting opening day of the 2028 season.
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