Tampa Bay Rays Push for Swift Approval of $1.3 Billion Ballpark Financing, Part of $6 Billion Redevelopment Project

Rays Eye March Approval for Construction Timelines, with City Planned to Contribute $417.5M, Pinellas County $312.5M, and the Rays Covering the Remaining $600M; Redevelopment Project Includes 1,200 Affordable Housing Units and Economic Opportunities for the Gas Plant District.

The Tampa Bay Rays are seeking swift approval for a $1.3 billion financing deal for a new 30,000-seat ballpark, aiming to get government approvals by March to maintain the construction schedule for the 2028 season opening.
The ballpark is part of a larger $6 billion redevelopment project in the Gas Plant District, including 1,200 affordable housing units, a 750-bed hotel, a Black history museum, retail and office space, and a performing arts center.
City of St. Petersburg is expected to contribute $417.5 million, including $287.5 million for the ballpark and $130 million for infrastructure of the larger project, with no new or increased taxes planned and the city intending to issue bonds to pay its share.
Pinellas County's share of the ballpark costs is about $312.5 million, funded by a bed tax largely paid by visitors. The Tampa Bay Rays will cover the remaining $600 million plus any cost overruns during the construction.
The project is anticipated to create approximately 32,900 construction and related jobs with an additional 11,000 permanent jobs once operational. It is also expected to provide economic opportunities for the Gas Plant District, a majority-Black neighborhood displaced by previous developments, fulfilling longstanding unmet promises.