The Tampa Bay Rays and Houston-based development firm Hines met with city council members and city staff on Oct. 26 to discuss their plans to redevelop 86 acres in downtown St. Petersburg.
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The proposal is still being finalized, and city council is expected to vote on the development agreement in March 2024.
As proposed, there is one consistent number required for the development regardless of what else is built. The agreement has the team developing 1,200 affordable and workforce housing units — 600 on-site and 600 off-site. The breakdown shows that 500 units will be reserved for those making 120% of the area median income, 100 units will be for those making 100% AMI, 300 units will be for those making 80% AMI and 300 units will be for those making 60% AMI.
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Target development
- 4,800 market-rate residential units
- 1,200 affordable/workforce housing units (600 on-site/600 off-site)
- 600 market-rate senior living units
- 750 hotel keys
- 1.4 million square feet of Class A/Medical/Medical Office
- 750,000 square feet of retail space
- 100,000 square feet of entertainment space
- 50,000 square feet of civic uses
- 90,000 square feet of conference, ballroom and meeting space
- 14 acres of open space
Minimum development
- 3,800 market-rate residential units
- 1,200 affordable/workforce housing units (600 on-site/600 off-site)
- 400 hotel keys or two hotel pads
- 1M square feet of commercial and office (500,000 Class A office/medical/medical office)
- 50,000 square feet of conference, ballroom and meeting space
- 10 acres of open space
