St. Petersburg Housing Authority backs Blake Investment Partners’ Historic Gas Plant District bid

The St. Petersburg Housing Authority is stepping into the city’s most consequential redevelopment debate, issuing a letter of intent backing Blake Investment Partners’ proposal for the Historic Gas Plant District.

Housing Authority President and CEO Michael Lundy said the agency supports Blake’s vision for the 86-acre site surrounding Tropicana Field, citing its emphasis on affordable and workforce housing and signaling interest in a future partnership should Blake’s bid be selected by the city.

“We are excited about the possibility of partnering with Blake Investment Partners on the Gas Plant District redevelopment,” Lundy said in a statement. “The St. Petersburg Housing Authority welcomes the opportunity to work on projects that expand access to affordable housing in the City of St. Petersburg.”

The letter of intent comes as city officials prepare to review proposals submitted in response to a formal request for proposals that closes Feb. 3. 

Blake Investment Partners first sought to purchase the Gas Plant redevelopment in March 2025, when it submitted an unsolicited proposal offering $260 million for the 86-acre site.

That proposal argued the redevelopment should be decoupled from long-term stadium negotiations, and outlined a framework that included reconnecting the city street grid, preserving land for parks and civic uses, setting aside acreage for an African American museum, and reserving space for a potential county-operated convention center.

The Rays, for their part, have started negotiations that could see the team relocate to the Hillsborough College Dale Mabry campus in Tampa once its lease in St. Pete expires in 2028.

Blake Investment Partners has steadily expanded its bid team in recent weeks, assembling a roster of local and national partners focused on housing, office development, construction and infrastructure. The firm tapped Stadler Development to lead its commercial office strategy, and announced construction partnerships with Gilbane Building Company, Skanska, and KAST Construction, along with engineering and infrastructure firms Wade Trim and MODO.

The firm has also partnered with Blue Sky Communities, a Florida-based developer with experience in affordable and workforce housing. The Housing Authority’s letter further validates affordability efforts embedded in the proposal.

“We’re very excited to partner with the St. Petersburg Housing Authority and ensure that there is housing available across all income levels throughout this development — a critical component of every successful community,” Blake’s Vice President of Real Estate Development Pete Van Warner said.

“Mr. Lundy and the Housing Authority team have a proven track record of delivering much-needed attainable housing across the city, and our goals are completely aligned.”

The agency’s support also carries historical significance. Laurel Park, a public housing community once located within the Gas Plant District, was built in the 1940s and later purchased by the Housing Authority in 1966. The 168-unit complex was among the residences removed as part of the urban renewal efforts that displaced a historically Black neighborhood.

“The St. Petersburg Housing Authority was part of the Gas Plant District’s history through our past ownership and management of the Laurel Park housing community,” Lundy said. 

“We would welcome the opportunity to once again be a part of the Gas Plant District and play a meaningful role in its future. Our mission is to provide safe, sanitary, accessible, decent, and affordable housing to eligible citizens of the city of St. Petersburg, while enhancing and promoting resident self-sufficiency and offering pathways to homeownership.”