Florida Construction News staff writer
Gov. Ron DeSantis and the Florida Cabinet this week approved a plan to allocate 22 acres at Hillsborough College in a future stadium deal aimed at keeping the Tampa Bay Rays in Florida.
The mixed-use development will include a 31,000-seat stadium with classrooms, retail space, restaurants, and entertainment venues.
“This is bigger than baseball,” Rays CEO Ken Babby said at a press conference on Tuesday. ”This is about building a stronger Tampa, stronger region by reinvesting back in the community and rejuvenating a college and creating a world-class mixed-use development and the future home of the Tampa Bay Rays.
“We’re talking about more than $34 billion of economic impact to our community.”
The Rays ownership group is seeking a “fair” public-private partnership to fund construction of the stadium, Babby said, which has an estimated $2.3 billion cost, with the team covering at least half of the stadium costs and the remainder potentially coming from local government or other funding sources.
The land transfer includes a provision allowing the state to reclaim the property within five years if key parts of the development, including the stadium, are not underway. Hillsborough College would oversee construction of academic and campus facilities as part of the larger project.
Officials said the Hillsborough College site, located near Raymond James Stadium, is well-suited for a mixed-use development and could provide a significant economic boost to Tampa by creating jobs, retail opportunities, and expanded community space. Rays CEO Ken Babby called the cabinet approval “a big moment” and said the team is committed to bringing the vision to life for “generations to come.”
Negotiations with the Rays, the City of Tampa, and Hillsborough County are ongoing, and additional approvals will be required before construction can begin. While the plan clears an important procedural hurdle, it does not guarantee public funding or a stadium construction timeline.
