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Rays turn to Braves for inspiration in their new stadium plans
Evan Axelbank reports
ST. PETERSBURG, Fla. - The Tampa Bay Rays hope their new ballpark and surrounding development echo the project spearheaded by the Atlanta Braves.
Instead of just a stadium and parking lot, the new Gas Plant district will also feature 21 residential buildings, five office buildings and three hotels in light purple.
One-tenth of the $6 billion project will come from public funds, $300 million in city bonds and $300 million in county tourist taxes.
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"We anticipate that it'll (bring) $200 million to Pinellas County schools. This will help local schoolchildren," said deputy city administrator Rob Gerdes. "Fifty-five million (dollars) to PSTA. This is going to help bus riders in our city. And hundreds of millions of dollars to the city and the county."
Rendering of new Rays ballpark.
The Rays and Hines development are partly looking to the Braves for inspiration.
Their "Battery" development was done with all private money, but Cobb County coffers have exploded.
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In 2022, it generated $38 million in county taxes. Property values in the neighborhood went from $5 million in 2014 to $736 million last year.
Braves fans enjoying the area around Truist Park
And, since 2018, it has taken in $55 million in sales tax revenue.
"We see a lot of value coming to the county," said commission chair Lisa Cupid during a public meeting in May. "And also to the residents in the community from the development. That's just monetary. We certainly know the energy that site has created."
The Rays and the city still need to complete tax revenue projections or say what specific retailers and hotel chains will take root.