St. Petersburg Mayor Ken Welch has selected a proposal from local investor Blake Investment Partners to redevelop Tropicana Field and the downtown land around it.
That touches off negotiations for the third time in six years over what could become one of the largest public development opportunities in the southeastern U.S.
Welch selected Blake Investment’s proposal, called the Burg Bid, over an unsolicited offer from a group led by billionaire Cathie Wood that prompted the mayor to seek additional offers.
Blake Investment Partners offered more cash for the land and pledged more income-restricted housing units than its competition. Welch folded in an offer from the Pinellas County Housing Authority, which would build an affordable senior living tower on half an acre near what the mayor has dubbed the Historic Gas Plant District.
“I’m really excited about it,” Welch said.
Welch, reached following St. Petersburg’s celebration of America’s 250th anniversary Wednesday, said he will elaborate more on his decision at a news conference scheduled for 9 a.m. Thursday in Campbell Park. He said his staff notified all bidding teams and City Council members of his decision Tuesday evening.
The mayor’s decision is the first step in a lengthy process that may go nowhere if he loses reelection this fall. His successor may want to start over, as Welch did with former Mayor Rick Kriseman‘s proposal to redevelop the Trop site.
If he wins, his staff told City Council members that contracts won’t be ready for a vote until next summer. He’ll have to win over a council that voted 6-2 to come up with a plan for the site first before picking a developer.
What’s next for Tropicana Field has been an open question for 20 years and is a sticking point in this year’s election. Welch’s announcement was upstaged Tuesday evening by political operator Peter Schorsch.
At a Suncoast Tiger Bay forum Tuesday evening featuring candidates for City Council, Schorsch said Welch selected Blake’s group for the Gas Plant redevelopment and asked candidates if they agree with that decision.
Schorsch’s wife, Michelle Todd Schorsch, is running former Florida Gov. and U.S. Rep. Charlie Crist’s campaign for mayor. Crist is among five candidates challenging Welch. Crist and both Schorsches were sitting together at the Tiger Bay event.
City spokesperson Samantha Bequer said any comment made before Thursday’s announcement is “not official.” City Council member Corey Givens Jr. confirmed Welch’s selection Tuesday evening to the Tampa Bay Times.
“I won’t lie, I’m very excited to see this news,” Givens said. “My hope is that whatever happens after this election won’t impact this development.”
Welch said he knew word would get out about his selection. Asked what he thought about Schorsch preempting him, Welch said, “I think nothing about Peter Schorsch.”
The Burg Bid, led by developer Thompson Whitney Blake, has offered $275 million in cash for 58 acres of the Gas Plant, named in honor of the predominantly Black neighborhoods that once occupied the land. His proposal promises 3,600 income-restricted housing units, though half of those are off-site.
Blake declined to comment.
Welch inked a deal with the Tampa Bay Rays and Hines that city and county boards approved in 2024. The Rays officially backed out of those plans in March 2025.
Later that October, a super group of Ark Investment, led by Wood, Ellison Development and Horus Construction, submitted an unsolicited proposal. Welch liked their pitch so much, he opened a 30-day window for other submissions rather than a formal bidding process.
“We are disappointed by the selection, but we remain steadfast in our mission to do what is best for our home in St. Pete. Our commitment has not changed,” Ark Invest Chief Financial Officer and Chief Strategy Officer Paul Wilson said in a statement. “We will continue working to advance smart growth, create high-quality, good-paying jobs, and promote responsible economic development that benefits the entire community. We remain optimistic about St. Petersburg’s future and committed to helping it thrive.”
The city received nine proposals and shortlisted four teams: Ark Ellison Horus, the Housing Authority, Blake and Foundation Vision Partners.
Developer Will Conroy teamed up with Anddrikk Frazier and Alex Schapira, both formerly of the Rays and Hines team, to create Foundation Vision Partners. They offered to master plan the site and create development-ready blocks the city could sell off over time.
“While we are disappointed that the Mayor did not select Foundation Vision Partners, our team will help, as best we can, to ensure that the mistakes of the past are not once again perpetuated such that no development occurs,” Conroy, Schapira and Frazier said in a statement. “St. Petersburg is home, and we remain willing to do our part to ensure a brilliant future for our Sunshine City.”
Council member Deborah Figgs-Sanders said she was OK with Welch’s decision to pick Blake because that proposal included elements that were part of the Rays and Hines’ plan, such as affordable housing and a new home for the Woodson African American Museum of Florida.
Lately, Figgs-Sanders has leaned against selling off public land.
“I think that’s one of the hesitations I had on all of them, other than the Housing Authority, is selling the land,” she said. “I really wanted to ensure that the legacy of the land still remained city-owned. So things are still in the air, things for negotiation.”
Council member Mike Harting, who voted to pause the selection process, said he would’ve liked to see the city pair Blake with Foundation Vision Partners. That way, the city could retain control over what’s built. He said his constituents favor green space, walkability and parkland.
“Although the mayor has made his decision, there’s still a lot of a soup left to make,” Harting said. “Whatever it looks like today is not going to look this way in a year.”
