The Hines Historic Gas Plant Partnership hopes to flip a 0.58-acre parcel into a residential housing complex. If approved, the project would offer at least 80 affordable housing units and 2,500 square feet of retail and surface parking.
Our sources indicate that residency would be available to those earning less than 100 percent of the area median income. The U.S. Census reports that the median household income in the area is $64,375.
The affordable housing complex would offer at least 80 units.
The Tampa Bay Business Journal reports that the complex would likely start construction by 2027, taking shape in a single phase. The proposed build site is currently home to a parking lot.
The Hines Historic Gas Plant Partnership comprises two entities: the Tampa Bay Rays and Hines, a Houston-based development firm. Recently, Florida YIMBY reported that the Tampa Bay Rays were currently in negotiations to redevelop Tropicana Field. While various aspects are still in the works, plans call for a 30,000-seat stadium that would open in 2028.
The venture would replace a parking lot near Tropicana Field.
Part of the negotiations for Tropicana Field involves investing $30.5 million in affordable housing, educational programming, and the nearby Woodson African American Museum.
The Hines Historic Gas Plant Partnership could have a decision on the 80-unit proposal by the end of the month. It would be located at 1659 3rd Avenue S., St. Petersburg, Florida, 33712, in Pinellas County.
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