A years-long effort to bring a key stretch of the CSX rail corridor in downtown St. Pete into public ownership, including the segment that cuts directly through Ferg’s Sports Bar & Grill, is finally moving forward.
According to an October 15th email from St. Pete Transportation and Parking Management Director Evan Mory, CSX Transportation has accepted a conditional offer from the City of St. Pete to acquire nearly a mile of rail right-of-way stretching from Dr. Martin Luther King Jr. Street along 1st Avenue South to 5th Avenue North.
The purchase is expected to cost $7 million, with $1 million coming from the City of St. Pete, $4 million from Mark Ferguson of Ferg’s Sports Bar, and $2 million from Ellison Development.
The offer cannot move forward without City Council approval, which is expected within the next 30 days.