Developers Are Already Making Offers
But selling now undervalues the land, locks in a single vision, and leaves the community without a voice.
The Tampa Bays Times recently reported that developer Casey Ellison, joined by investor Cathie Wood, is preparing a proposal to buy and redevelop the 86-acre Gas Plant district in downtown St. Petersburg.
You can be sure other investors will be circling soon.
Selling now is not just a bad deal — it’s the wrong deal for St. Petersburg.
Proposals coming in this early prove one thing: the Gas Plant is among the most valuable redevelopment sites in Florida – or maybe in all of the U.S.
But selling it quickly — especially to a single developer — is clearly not the best deal for the city. Whatever a developer would pay today, years before anything can even begin in 2028, you can be certain the price is way below market. And once sold, the city would lose flexibility to consider phased development, multiple partners, or better community-driven solutions.
Selling should not be the first step
The very first step must be a structured, community-centered planning process — one that starts with what matters most to residents, weighs trade-offs, and uses outside expertise to connect priorities with opportunities. Only then can the city decide how, when, and under what terms to sell or develop the Gas Plant.
Lessons From Past Deals
This isn’t the first time St. Petersburg has faced a decision about the Gas Plant.
At one point, the Rays/Hines deal was committing $2.4 billion of city and county resources to develop the property and build a stadium. It included selling the developable land for just $105 million, paid over ten years – probably 10% of its value. That deal would have permanently shortchanged the community.
We can’t afford to repeat history. Selling early risks locking the city into a bargain price while turning over control of this once-in-a-generation property to a single developer.
Why a Single Developer’s Vision Isn’t Enough
Selling now would hand the future of the Gas Plant to one developer. Why should the city’s most important redevelopment site reflect a single developer’s vision instead of the community’s?
Beyond the obvious undervaluation, selling the entire site to one developer is clearly not the best way forward. Many successful redevelopment projects in other cities have been phased, with multiple developers and partners, allowing for flexibility and stronger community outcomes.
If circumstances change in the years ahead — and they surely will — the developer, not the city and its residents, would remain in control. The public would lose its voice.
What the City Needs First
St. Petersburg needs a structured, community-centered planning process.
That process should not start with site plans or developer renderings. Instead, it should begin with listening to residents, neighborhoods, and civic leaders about what matters most for the city’s future.
And what matters most is clear:
Safe and stable housing so families can thrive.
Good jobs and economic opportunity that lift people up.
Support for children to reach their full potential through after-school programs, mentoring, and scholarships.
Cultural and community life that enriches neighborhoods and brings people together.
Resilience and sustainability to prepare for flooding, storms, and climate challenges.
Honoring the past and its history — recognizing the families and neighborhoods displaced when the Gas Plant was first cleared, and ensuring that future benefits help repair that legacy.
Overall well-being that makes St. Petersburg a healthier, more connected city for everyone.
With these priorities as a foundation — and with the help of outside planning expertise — the Gas Plant site can be evaluated for how it can best be used, sold, or partnered to advance the city’s long-term goals.
HomeRunsMatter has discussed the value of such a process with a majority of City Council members. They encouraged the idea because it would give them broad, credible input to guide their decisions. In response, we have been floating the concept of Envisioning the Gas Plant — a way to help shape this kind of inclusive process for both the city and the community.
Whether the city would adopt this work, design its own process, or works in concert with others, the point remains the same: planning must come first.
Protecting St. Pete’s Future
Until a structured, community-centered planning process is complete — one that identifies what matters most, weighs trade-offs, and uses outside expertise to shape the city’s options — nothing should begin on the site. No sales. No partial developments. No one-off deals. The future of the Gas Plant is too important to rush.
What City Leaders Should Do Next
City leaders should take one simple step: commit to a planning process before any sale. By doing so, they will protect the city’s leverage, keep open the option of phased or multiple-developer approaches, and give residents a real voice in shaping St. Petersburg’s future.
The bottom line is clear: plan first, sell later. That is how the Gas Plant can truly serve the community, honor its past, and provide opportunity for generations to come.
