Pinellas County Commission approves $312.5M in bonds for new Rays stadium in St. Petersburg

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Pinellas County Commission approves $312.5M in bonds for new Rays stadium in St. Petersburg

After a two-month delay, the Pinellas County Commission has voted to honor its commitment to financially support the development of a new $1.3 billion Tampa Bay Rays stadium.

At a Tuesday meeting, county commissioners voted 5-2 to allocate $312.5 million toward the construction of the 30,000-seat ballpark. The county’s share will be funded through existing tourist taxes collected on hotel stays and short-term rentals.

Newly elected commissioners Vince Nowicki and Chris Scherer voted against the proposal, while Commissioners Chris Latvala, Kathleen Peters, Dave Eggers, Rene Flowers, and Brian Scott voted in favor of approving the bonds.

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Done Deals: City approves funding for Trop roof repairs, TV personality sells Snell Isle home, Sweetgreen opens in downtown

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Done Deals: City approves funding for Trop roof repairs, TV personality sells Snell Isle home, Sweetgreen opens in downtown

Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.

Have real estate news to share? Send us an email at hello@stpeterising.com.

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St. Pete approves bonds to fund new Tampa Bay Rays stadium and Gas Plant District development

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St. Pete approves bonds to fund new Tampa Bay Rays stadium and Gas Plant District development

Despite uncertainty surrounding the future of Major League Baseball in St. Petersburg, the City Council has voted to move forward with plans for a new $1.3 billion stadium for the Tampa Bay Rays and the redevelopment of the adjacent 86-acre Historic Gas Plant District.

During a meeting on Thursday, the City Council narrowly approved the issuance of $287.5 million in tax-exempt bonds with a 4-3 vote. These bonds will contribute to the $600 million in public funding for the stadium, along with $142 million allocated for infrastructure improvements in the reimagined district.

Council members Sandra Figgs-Sanders, Copley Gerdes, Brandi Gabbard, and Gina Driscoll voted in favor of the bond issuance, while Richie Floyd, Lisset Hanewicz, and John Muhammad opposed it.

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Hurricane Milton plows through St. Pete, city commences recovery efforts

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Hurricane Milton plows through St. Pete, city commences recovery efforts

Making landfall Wednesday evening near Siesta Key as a Category 3 storm, Milton unleashed its wrath throughout Florida with its outer bands also causing immense storm surge and property damage.

"It’s been a tough few weeks, but we’re still with you - we’re ready to recover and rebuild," the City of St. Petersburg team wrote on Facebook.

"City crews began accessing damage at daybreak and we’re encouraging all residents to stay off the roads until public safety officials deem it safe."

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Tampa Bay Rays win approval of Pinellas County funding for new $1.37 billion stadium in downtown St. Pete 

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Tampa Bay Rays win approval of Pinellas County funding for new $1.37 billion stadium in downtown St. Pete 

It's official - The Tampa Bay Rays have secured local government funding for a new $1.37 billion baseball stadium in a deal that will keep the team in St. Petersburg for decades to come.

In a 5-2 vote on Tuesday afternoon, Pinellas County Commissioners approved contributing $312.5 million of tourism tax revenue towards the construction of the stadium.

The tourism tax revenue is generated by a bed tax restricted to funding tourist-related development such as hotel expansions and other projects driving economic prosperity.  

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