Locally led team pitches master plan first approach for Historic Gas Plant District in downtown St. Pete

The Rays/Hines plan, selected through the City’s 2022 process, collapsed in early 2025 following long negotiations and shifting market conditions.

Foundation Vision Partners frames its approach as a way to avoid repeating that cycle.

The team says single-developer models can bog down in multi-year negotiations, financing contingencies, and political “re-trades,” leaving the site stalled as market conditions change.

First, the team would lead a community-driven master planning process to establish the site’s long-term vision, land uses, connectivity, public spaces, and design rules.

Next, it would manage the design, permitting, and phased construction of districtwide infrastructure.

Then, it would deliver “development-ready” blocks back to the City.

Finally, the City would run separate solicitations to select multiple vertical developers, block by block, selling parcels over time rather than making one upfront sale.