Related Group, Blake Investment Partners Win $8.1B St. Petersburg Redevelopment Bid

• St. Petersburg has selected The Burg Bid, led by Blake Investment Partners and Related Group, to redevelop the 86-acre Historic Gas Plant District.
• The proposal outlines an estimated $8.1 billion investment featuring more than 3,600 workforce housing units.
• Plans include a 13-acre public park, museums, workforce development facilities, entertainment venues, and transportation improvements.

What the Redevelopment Project Includes

The City of St. Petersburg has selected The Burg Bid as the master developer for the long-awaited redevelopment of the 86-acre Historic Gas Plant District, the site of Tropicana Field. Mayor Ken Welch chose the proposal led by Blake Investment Partners, in partnership with Miami-based Related Group and supported by funding from Elliott Investment Management. The master plan envisions approximately $8.1 billion in total investment, transforming the former stadium property into a mixed-use district centered around housing, public spaces, cultural attractions, and economic development.

What the Master Plan Brings to the Site

The proposal is anchored by a 13-acre public park designed to serve as the heart of the new neighborhood. Surrounding the park would be a museum district featuring a new Woodson African American Museum alongside a public art museum with a permanent international collection, creating a cultural destination for both residents and visitors. Housing is another major component of the redevelopment. More than 3,600 workforce housing units are planned on and off the site throughout the project's various phases, helping address the region's growing need for attainable housing while creating a vibrant mixed-use community.

What This Means for St. Petersburg

Beyond residential development, the proposal includes a workforce training and small business success center aimed at supporting local entrepreneurs and job creation. Plans also call for an indoor-outdoor event venue, a potential surf and water recreation facility, and a multimodal transportation hub to improve connectivity throughout the district. The selection of The Burg Bid represents a significant milestone in one of Florida's most closely watched redevelopment opportunities. If built as proposed, the project would reshape the Historic Gas Plant District into a destination that combines housing, culture, recreation, and economic opportunity while generating billions of dollars in long-term investment for St. Petersburg.