The Tampa Bay Rays have secured the final approval for a new $1.3 billion ballpark in St. Petersburg, marking a significant milestone for the team and the Tampa Bay community. The Pinellas County Board of County Commissioners voted 5-2 on Tuesday to allocate $312.5 million in tourist tax dollars, plus interest, to the stadium project. This decision follows the St. Petersburg City Council’s earlier commitment on July 18 to invest $287.5 million, solidifying the financial backing needed to move forward with the project.
The approval clears the way for one of the largest commercial real estate developments in the Southeastern United States. Houston-based Hines, a global real estate firm, will partner with the Rays to lead the ambitious project. The development plan includes not only the state-of-the-art ballpark but also a mix of apartments, office space, hotels, a museum, and open public spaces, all aimed at revitalizing the Historic Gas Plant District.
Rays president Matt Silverman, reflecting on the approval while driving home with his daughter, Alexa, expressed relief that the team’s long search for a long-term home had finally come to an end. When Alexa asked what would have happened if the new stadium had been voted down, Silverman candidly replied, “I don’t know. But we don’t have to worry about that, because we know the baseball team is going to be here, and it’s going to be here forever.”
The Rays’ journey to secure a permanent home in the Tampa Bay area has spanned 17 years, making Wednesday’s announcement particularly momentous. The new ballpark, scheduled to open in 2028, will be located just east of Tropicana Field as part of the first phase of the Historic Gas Plant District development.
At a news conference held at Tropicana Field, Silverman and team president Brian Auld were joined by St. Petersburg Mayor Ken Welch, St. Petersburg City Council chair Deborah Figgs-Sanders, Pinellas County Commissioner Kathleen Peters, Hines senior managing director Lane Gardner, and Best Source Consulting president/CEO Anddrikk Frazier to celebrate the approval.
“This is a great day, a providential day, for our community,” Mayor Welch said. “And we're excited that our Rays are here to stay.”
Construction on the new ballpark is set to begin in January 2025, with completion targeted in time for the 2028 Opening Day. The first phase of development will include parking garages to support The Trop while the new stadium is being built, a hotel, a retail village, an office building that will house the Rays’ new headquarters, a medical office village, two multi-family developments, affordable housing, and an entertainment venue.
Local officials and the Rays organization have emphasized the community benefits that will stem from the new development. There is a strong commitment to honoring the history of the Gas Plant neighborhood and its descendants, hiring disadvantaged and minority workers, and supporting locally owned small businesses. The development is projected to generate over $6 billion in private investment and $1.4 billion in local property tax revenue over the next 30 years.
The Rays also see the new stadium as a crucial element in their quest for a World Series title. Auld described the development as a “game-changer” for the team’s business operations, which are expected to provide more stable and predictable revenues that can be reinvested into the team.
“The winning has been there. The playoff appearances have been there. A couple of World Series appearances. We haven't brought home that title,” Silverman said. “But this is going to help us in our quest for that World Series title and help us be able to look out and predict more confidently how those revenues are going to be generated and how we can invest them back into the team.”
With the approval of the new stadium, the Rays can finally look forward to a future in St. Petersburg, where they hope to continue building on their success both on and off the field.