ST. PETERSBURG, Fla. — The city of St. Petersburg has announced a historic deal with the Tampa Bay Rays in downtown St. Pete.
They are partnering to create a brand new ballpark, estimated to cost $1.3 billion. The Rays will pay for $700 million of that — the other $600 million will come from the city and county.
And the ballpark is just one part of the project.
It also includes 4,800 residential units, an additional 1,200 affordable ones, and several million square feet of office, retail, and entertainment space. There will also be 14 acres of public park and a new home for the Woodson African American Museum of Florida.
If all goes well for the deal, city leaders say they hope to break ground on this project by the end of next year.
Tonight, many leaders in St. Pete's business community are excited about the historic economic impact it'll have on the county.
The president of the St. Petersburg Chamber of Commerce said the news felt like a massive celebration.
"Imagine your birthday, an anniversary, and Christmas all come together. It's that kind of day for St. Pete," Chamber of Commerce President Chris Steinocher said. "This creates such certainty for our community, such an amazing opportunity for investment and planning for the future."
Steinocher is betting on a brighter future for the city.
"It's as if the rain has stopped when you're going down the highway. That rain comes, everybody hits their brakes. They pull off. They don't know if the road's still there, even though they know it's there intuitively. I think that's what our community has been going through," Steinocher added. "With this new announcement that it's here to stay, I really believe that the sun came out and people are going to go 95 miles an hour."
The chamber of commerce president is also hopeful about the growth that will come with the new office, retail and entertainment space.
"That to us means headquarters of companies that are doing things we don't even know about yet," Steinocher said. "We're going to continue to see a new workforce come here with new investments and new technologies."
Nearby business owners, like Federico Fanelli of "Italy Bottega," see this plan as an opportunity.
"If we will be able to manage this important moment in the right way, St. Petersburg will be a fantastic town," Fanelli said.
His only hope is that the soul of the city, and its small-town charm that reminds him of his home country of Italy, is maintained.
"Otherwise, we will become like many other towns with beautiful skyscrapers, totally empty and we will lose our soul," he said.
But more foot traffic and parking spaces have Cecelia's Sweet Shop owner Theresa Dimaria eager for work to get underway.
"I think once there's a parking deck it will help particularly businesses in our area," Dimaria said.