The redevelopment of a portion of the 86-acre Historic Gas Plant District in St. Petersburg, FL, that includes Tropicana Field could bring hundreds of senior living apartments to the district if a proposal from Houston-based international real estate firm Hines and the Tampa Bay Rays baseball team is chosen.
Among Hines’ previous senior living projects include a joint venture with real estate investment trust Welltower in Manhattan as well as a MorningStar Senior Living project in Texas, where it was a co-investor.
The request for redevelopment proposals, which were due Dec. 2, called for 17.3 acres to be set aside for a new baseball stadium. Other requirements include affordable housing, office space, arts and recreation space. The Hines / Tampa Bay Rays proposal calls for a ballpark at the heart of the development, along with 600 senior living apartments and other housing and office space options, USA Today reported. The plan features hotels and an entertainment venue as well.
“For decades, Hines has demonstrated the knowledge, expertise and reliability to deliver complex projects of this size and magnitude,” Rays President Matt Silverman told the media outlet. “Hines has been acquainted with this site for 15 years, and we know that Hines will be here 15 years from now, fulfilling its promises and vision for the Historic Gas Plant District.”
The proposal by Hines and the Rays was among four submitted to the city. The others came from 50 Plus 1 Sports, Restoration Associates and Sugar Hill Community Partners.
St. Petersburg Mayor Kenneth T. Welch said in a statement that the city “will review the proposers’ plans with a keen eye on their interpretation of affordable and workforce housing; office and meeting space; arts and culture; research, innovation, and education; recreation; open space, healthy and sustainable development; and intentional equity.”
The selection process will take place in the new year. Each proposer will present an overview of its plans at a public meeting Jan. 4, and the mayor will announce the city’s final decision at the end of January.
