The Tampa Bay Rays have set their sights on a bold and ambitious plan for the future. With the goal of opening a new 30,000-seat ballpark by the 2028 season, the team is pushing for swift approval of a financing deal. This project is part of a larger $6 billion redevelopment plan that promises to transform the city of St. Petersburg, Florida.
A Comprehensive Redevelopment Project
The proposed redevelopment project goes far beyond just a new ballpark. It encompasses a wide range of initiatives, including affordable housing, a hotel, a Black history museum, and many other amenities. The scope of this project is truly impressive, and it aims to bring economic growth and revitalization to the area.
One of the key aspects of this plan is its commitment to inclusivity and social responsibility. The new ballpark will be located on the same tract of land as the current Tropicana Field, which has been the Rays’ home since 1998. With the demolition of the old stadium, the Rays are making a clear statement that they are committed to their new home for the long term.
This commitment also extends to the Gas Plant District, a largely Black neighborhood that was displaced decades ago for the existing Rays stadium and an interstate highway. Mayor Ken Welch has emphasized that the redevelopment project will fulfill promises made to this community, providing economic opportunities that were previously unfulfilled.
The financing plan for this project is substantial. The city of St. Petersburg will contribute $417.5 million, with $287.5 million allocated for the new ballpark itself and $130 million for infrastructure improvements. The city plans to issue bonds to cover its share, with no new or increased taxes projected.
Pinellas County will also play a role in financing, contributing approximately $312.5 million towards the ballpark costs. The county’s portion will come from a bed tax that is primarily funded by visitors and can only be used for tourist-related and economic development expenses.
As for the Tampa Bay Rays, they will take on the remaining costs, which amount to around $600 million. This includes any potential cost overruns during the construction phase. In return, the team will hold the naming rights to the new ballpark, presenting an opportunity for additional revenue.
A Transformation Spanning Two Decades
While the new ballpark is the centerpiece of this project, it is just the beginning. The redevelopment of the Gas Plant District is a long-term endeavor that may take up to 20 years to complete. It is designed to create a vibrant community with 1,200 affordable housing units, a 750-bed hotel, retail and office space, a Black history museum, and a performing arts center.
This comprehensive approach ensures that the benefits of the redevelopment extend beyond just the Tampa Bay Rays and their fans. It aims to create a sustainable and prosperous future for the entire St. Petersburg community.
A Promise Fulfilled
The promise attached to the land on which the new ballpark will be built is significant. This project has the potential to address and rectify past mistakes, bringing economic growth, diversity, and opportunity to the Gas Plant District. It is an opportunity to create lasting change and provide a brighter future for all residents of St. Petersburg.
The Tampa Bay Rays’ plan for a new ballpark and a $6 billion redevelopment project is an ambitious and forward-thinking initiative. It represents a commitment to both the team and the community, with a focus on inclusivity and economic revitalization. If approved, this project has the potential to transform the city and create a vibrant hub for sports, culture, and economic growth. The road ahead is challenging, but the potential rewards are immense.
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