\u201cRed Apple Real Estate is well-positioned to transform the 86 acres into what I call a \u2018wow\u2019 development, complete with the highest-quality residences for people wanting to live the American Dream in the heart of St. Petersburg,\u201d Catsimatidis wrote.\u00a0<\/p>\n
\u201cWe have the knowledge, expertise and relationships to make market-rate housing, affordable housing, and impressive quality of life amenities a reality, all while creating jobs.\u201d\u00a0<\/p>\n
Red Apple is putting the finishing touches on the Residences at 400 Central, an over $400 million<\/a> mixed-use development. The firm is the second to request additional time for Gas Plant proposals since the city announced Oct. 22 that it would open a 30-day submission window in mid-November.\u00a0<\/p>\n Simply receiving an unsolicited proposal from a development team led by St. Petersburg-based ARK Investment Management did not trigger the process<\/a>. The mayoral administration is fulfilling a state-mandated requirement before selling the land.\u00a0<\/p>\n \u201cThat\u2019s because, obviously, they were interested in the proposal,\u201d City Councilmember Lisset Hanewicz previously told the Catalyst. \u201cIf not, they would have never triggered the statute to start with.\u201d\u00a0<\/p>\n Tropicana Field as seen from the top of the Residences at 400 Central in February. Photo by Mark Parker.<\/p>\n Council Chair Copley Gerdes previously noted that the roughly 86 acres \u201chas been sitting and continues to sit.\u201d He believes that \u201cevery day counts for the people who are counting on us to fulfill the promises on the piece of land.\u201d\u00a0<\/p>\n The city displaced thousands of Black families and businesses from the Gas Plant over 40 years ago. Officials promised stakeholders economic revitalization; they received the Trop and its sprawling surface parking lots.<\/p>\n Welch, a self-described \u201cchild of the Gas Plant,\u201d has frequently stated that honoring long-deferred promises<\/a> \u201chas been a top priority for my administration.\u201d The Tampa Bay Rays walked away from a long-negotiated deal in March.\u00a0<\/p>\n Catsimatidis acknowledged an \u201carduous journey\u201d for the city and its residents, \u201cespecially those who have waited generations for the site to bear fruit.\u201d He also wrote that inclusion is a hallmark of the Welch administration.\u00a0<\/p>\n \u201cWe ask that you include not just those who have gone through this process before and not just those who see this as free advertising,\u201d Catsimatidis continued. \u201cBut those locally, nationally and internationally who are experienced and know how to deliver!\u201d<\/p>\n ARK partnered with Tampa-based Ellison Development and Horus Construction Services on a $6.8 billion bid<\/a>, submitted Oct. 3, to redevelop 95.5 acres of prime, underutilized real estate. Blake Investment Partners offered an unsolicited proposal<\/a> in March, days after former Rays owner Stuart Sternberg exited his deal, which\u00a0gained no traction.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/Tropicana-Field-aerial-Mark-Parker.jpg\")
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