The city of St. Petersburg will likely have plenty of options for redeveloping the Historic Gas Plant District after opening a request for proposals. One prominent local team, which initially submitted an unsolicited proposal last fall, has detailed the vision it has for the 80-plus-acre property in the heart of St. Pete.
The ARK Ellison Horus team, formed by ARK Investment Management, Ellison Development, and Horus Construction, has been vocal about its desire to lead the redevelopment of the massive swath of land. The group has continued to share details on its $6.8 billion vision to “reimagine the 95.5-acre district as a world-class destination for innovation, culture and community.”
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Backed locally by ARK Invest CEO and CIO Cathie Wood, the group says its plan includes a four-phase development projected to unfold over roughly 17 years. Key facets include:
- Thousands of new housing units
- More than 1,900 affordable, workforce and senior housing units
- A robust innovation ecosystem featuring research space, labs and conference facilities
- The Woodson African American Museum of Florida
- A state-of-the-art performance theater
- More than 30 percent of the site dedicated to parks and open space
According to ARK Ellison Horus, an independent study projects more than $1.2 billion in annual economic impact, including close to $28 billion over 30 years, along with the creation of nearly 20,000 jobs.
The group’s latest announcement highlighted interest from a mix of national industry leaders and key local organizations as potential partners on the redevelopment. Those include the Pinellas County Housing Authority and St. Petersburg Housing Authority, as well as national firms Moss, Jacobs, and Kimley-Horn.
“The Gas Plant District is an opportunity to demonstrate how innovation-led investment can drive durable economic growth,” said Cathie Wood, CEO and CIO of ARK Invest. “By uniting world-class partners, emerging technologies, and a long-term capital mindset, this project is designed to create new engines of productivity, job creation, and sustained economic impact. When innovation is embedded into the fabric of a district, it doesn’t just transform a site. It can reshape a city’s economic trajectory for decades to come.”
“This is about more than assembling a project team,” said Casey Ellison, CEO of Ellison Development. “It’s about building the right coalition to deliver on a vision that honors history, strengthens the community and positions St. Petersburg for long-term success. We’re encouraged by the caliber of companies stepping forward and remain focused on doing this work thoughtfully, transparently and in partnership with the city.”
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