St. Pete’s next era? A $6.8 billion vision for the Trop site

One of the global investment community’s most recognizable names has enlisted a prominent local development firm and commercial contractor to transform the area surrounding Tropicana Field into a “world-class epicenter of innovation, culture and community.”

St. Petersburg-based ARK Investment Management and Tampa’s Ellison Development and Horus Construction unveiled a $6.8 billion proposal Friday to reimagine the Historic Gas Plant District. The development team believes their ambitious plan “blends restorative justice with transformative investment in housing, education, culture and long-term economic resilience.”

The massive redevelopment would encompass 95.5 acres, including the Trop. ARK Ellison Horus, LLC, ensured project flexibility to accommodate the Tampa Bay Rays. City Council Chair Copley Gerdes told the Catalyst that the team’s new ownership group, if they choose to stay beyond 2028, will have significant space to build a new stadium.

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