Schapira and Frazier were key cogs in a Rays and Hines redevelopment proposal previously selected by Mayor Ken Welch. The team withdrew from long-negotiated agreements in March 2025.<\/p>\n
Gensler and Stantec, renowned design and sustainable engineering firms, respectively, have also partnered with Foundation Vision Partners. The group shared its unique proposal Monday afternoon, a day before the city\u2019s deadline.<\/a><\/p>\n If selected, Foundation Vision Partners would act as a master planner, advisor and manager, rather than a developer. The announcement states that the Gas Plant, \u201ca site of profound cultural and historical significance<\/a>,\u201d remains undeveloped due to \u201call-or-nothing\u201d models.<\/p>\n \u201cFor decades, single-developer models have stalled this generational opportunity in our city,\u201d Conroy said in a prepared statement. \u201cNow is the time for a smarter path.\u201d<\/p>\n The 86-acre area is currently home to Tropicana Field, home of the Tampa Bay Rays until the end of 2028.<\/p>\n Foundation Vision Partners (FVP) noted that previous proposals integrated master planning, infrastructure design and construction, and vertical development into $6 billion, single-developer projects. That resulted in protracted negotiations and \u201clost momentum amid economic cycles.\u201d<\/p>\n FVP pledged to co-create a master plan with the community before launching the massive project\u2019s design, permitting and essential infrastructure phases. That will prepare the area for \u201cshovel-ready vertical development parcels\u201d that the city would then sell, \u201cblock-by-block,\u201d to local, regional and national developers.<\/p>\n \u201cOur master plan and infrastructure-first approach delivers six clear advantages: Putting the city in full control, boosting success through diversification, capturing over $510 million in value for public priorities, broadening local participation, accelerating progress and leveraging world-class expertise to build an inclusive district that truly serves St. Petersburg,\u201d Conroy said.<\/p>\n The city would pay $239 million over four development phases, which, according to the proposal, would provide adaptability and flexibility. Construction would occur east to west, and only advance once previous developments open and begin generating new property taxes.<\/p>\n FVP states that St. Petersburg\u2019s initial $67 million investment would, eventually, unlock $510 million in land sales and create a self-funding mechanism throughout the project\u2019s lifespan.<\/p>\n \u201cA generational project deserves to be responsive to multiple generations,\u201d Frazier said. \u201cOur success will be measured by how effectively this district creates opportunity for residents and local businesses, and reflects the full fabric of St. Petersburg.\u201d<\/p>\n Conroy believes that entrusting one developer with \u201ctoo much power\u201d mitigates avenues for innovation and broad participation. A multi-developer approach \u201cde-risks the process\u201d and fosters a \u201ctruly responsible district shaped by many voices,\u201d he said.<\/p>\n FVP will provide the following three core services:<\/p>\n Master Plan Placemaking Services: Refining the city\u2019s vision through urban design, infrastructure alignment and community integration to create a cohesive placemaking district. \u201cThis is not a traditional consulting practice, and it is not a developer chasing projects across multiple markets,\u201d Schapira said. \u201cFoundation Vision Partners was formed for one purpose \u2013 to help the city steward this once-in-a-generation redevelopment opportunity in a way that is intentional, actionable, disciplined and community-centered.\u201d<\/p>\n Proposals are due at 10 a.m. Tuesday. Welch said Monday<\/a> that selecting a proposal, which requires staff evaluations, a public forum and a community benefits process, would take months.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/02\/Aerial-Conceptual-1024x576.png\")
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\nDevelopment management: Overseeing planning, entitlements, budgeting, scheduling and developer procurement for infrastructure phases.
\nConstruction Management: Ensuring on-time, on-budget delivery of public works with quality and safety standards.<\/p>\n
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