The rail line has been a point of contention for years.
In 2019, the City of St. Pete sued CSX after learning the company planned to sell the property to another buyer despite the city’s ongoing maintenance of portions of the corridor and its long-standing desire to convert the land to trail use.
A court ultimately ordered both parties to negotiate a possible sale.
CSX later commissioned an appraisal that valued the property at $87.9 million. But according to Mory’s email, because the land would come with strict limitations, including trail-only use, existing roadway easements, and the possibility of future rail reactivation, the company agreed to consider a much lower price.
Mark Ferguson and Ellison Development will be able to have commercial/retail activity occur on the portions immediately adjacent to their properties.
For Mark Ferguson, owner of Ferg’s Sports Bar, the deal represents both stability and opportunity.
The CSX easement runs directly through portions of his business and bisects his parking lot north of Central Avenue.