$6.8 Billion vision unveiled, transforming St. Petersburg’s Historic Gas Plant District
- Jake Nicholas
- Oct 3
- 2 min read
A locally led partnership has unveiled one of the most ambitious development proposals in Florida history: a $6.8 billion plan to reimagine St. Petersburg’s Historic Gas Plant District as a global hub of innovation, culture, and community.
Formed by ARK Investment Management, Ellison Development, and Horus Construction, ARK Ellison Horus, LLC submitted the unsolicited proposal to the City with master planning led by Baker Barrios. Spanning 95.5 acres, including the Tropicana Field site, the plan will unfold in four phases over 17 years, integrating housing, education, cultural landmarks, and world-class event venues while honoring the neighborhood’s legacy of displacement.
Independent analysis projects the district to generate $1.2 billion in annual economic impact—$28 billion over 30 years—alongside nearly 20,000 jobs. More than 1,900 affordable, workforce, and senior units are embedded across phases, delivering a significantly higher return to the city than stadium-centric proposals and positioning St. Petersburg as a model of equitable growth.
“This is a once-in-a-generation opportunity to build an economy powered by innovation,” said Cathie Wood, Founder and CEO of ARK Invest. “The Gas Plant District can become a magnet for venture capital, entrepreneurs, and research talent, while ensuring residents directly share in this prosperity.”
Culture, History & Open Space
Central to the vision is the Woodson African American Museum of Florida and a new performance theater, joined by a Booker Creek Cultural Corridor connecting Midtown, The Edge, and the Innovation District. Entertainment venues include a 4,000-seat indoor music hall, a 1,500-seat amphitheater, and 1,543 hotel rooms to support year-round programming. More than 30 percent of the site will be open space, highlighted by a 6.7-acre elevated park reconnecting Campbell Park to the Gas Plant neighborhood.
Education & Workforce Development
The plan embeds pathways from youth education to workforce readiness: the Superintendent School for construction leadership, HORUS Academy for trades training, and the Future Forward program for re-entry and small business support. Horus Scholars, already delivering $140 million in scholarships, will expand opportunities for higher education and career mobility.
“This project is about more than buildings; it is about people,” said Jonathan Graham, President of Horus Construction. “We are ensuring the opportunities created here reflect the full diversity of St. Petersburg.”
Building an Innovation Ecosystem
At its core, the District introduces 500,000 square feet of innovation hubs, a 200,000-square-foot Innovation Hall for global conferences, and a Research Center creating up to 900 specialized jobs. Directly linked to the ARK Innovation Center, the site will establish a regional corridor for entrepreneurship, commercialization, and venture capital investment.
“Unlike developments that rely on a single anchor tenant, this plan builds an economy of many anchors,” Wood added. “It ensures St. Petersburg is on the world stage for ideas, creativity, and investment.”
As part of the proposal, the team has committed at least $202 million to the city, with just 53.5 acres privately held and the balance dedicated to public parks, cultural attractions, and open space.
