Mayor Welch Just Picked a Team to Redevelop Tropicana Field. Here's What the Plan Actually Says.

After decades of false starts on one of St. Petersburg's most contested pieces of land, a decision has finally landed. According to City Council member Corey Givens Jr., Mayor Ken Welch has selected The Burg Bid, led by Blake Investment Partners, to redevelop the 86-acre Historic Gas Plant District beneath Tropicana Field.

The selection is a milestone, not a finish line — City Council votes and a final development agreement still lie ahead. But the proposal itself, now public, gives St. Pete residents their clearest look yet at what could replace the Trop.

Here's what's in it.

Who's Behind the Bid

The Burg Bid isn't a scrappy upstart — it's a coalition of some of the largest names in real estate and construction, brought together by St. Petersburg native Thompson Whitney Blake, founder of Blake Investment Partners:

• Related Group — the largest developer in Florida
• Elliott Investment Management — the third-largest investment fund in the world, managing roughly $79.8 billion
• Skanska — the fifth-largest general contractor in the world
• Gilbane — the seventh-largest general contractor in the country
• Greystar — the largest multifamily developer in the country
• Blue Sky — Tampa Bay's most trusted affordable housing developer
• KAST — the second-largest general contractor in Tampa Bay

That roster matters because it speaks to the team's central pitch: capital secured from day one, paired with a track record of pulling off projects at this scale.

The Headline Number: $8.1 Billion

The Burg Bid proposes $8.1 billion in total development spend on the site — land valued at $405 million — with a pledge of no city infrastructure funds beyond what's already available through the existing Community Redevelopment Area (CRA).

What the City Would Get

• $275 million in cash to the city
• $20 million upfront deposit
• 28 acres the city retains
• $2.7 billion+ in projected tax revenue over 30 years

The Housing Promise

Affordability is central to the pitch: 3,600 affordable and workforce housing units, split 1,800 onsite and 1,800 offsite, along with additional affordable homeownership opportunities.

Jobs and Local Investment

• 30,000+ jobs
• $30 billion+ in projected 30-year economic impact
• $3.3 billion directed to local and diverse (WMBE/SBE) businesses

Built on History

The Gas Plant District wasn't empty land — it was once a thriving, predominantly Black neighborhood razed decades ago. The Burg Bid's plan includes a "Legacy Link" tying the development back to landmarks like Mercy Hospital, the Harlem Theatre, Davis Elementary, and Bethel Metropolitan Baptist Church.

Its centerpiece is The Woodson, the African American Museum of Florida, positioned as a physical anchor for that history within the new development.

How It Compares to the 2025 Rays-Hines Proposal

Metric	Rays-Hines (2025)	The Burg Bid
Development spend	$6B	$8.1B
Jobs	17,782	29,000+
Housing units	6,328	7,500+
Cash to city	$97M	$275M

Figures as stated in the Burg Bid's own presentation materials.

What's Next

Selection is the start, not the finish. The proposal still has to clear City Council votes and a final development agreement before a shovel goes in the ground. Worth noting: the broader selection process also included a companion recommendation from the Pinellas County Housing Authority for a smaller affordable senior-housing component, which may factor into how the full site plan comes together.

This is the piece of land that will define downtown St. Petersburg for a generation. What do you want to see here? Follow along as it moves.

— @bennettandrews_realestate