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The Tropicana Field site has an estimated market value ranging from $66 million to $277.4 million, according to three appraisals on the property.
The city got the appraisals in advance of negotiating with developers on agreements to redevelop the site in what’s been described as a “generational” opportunity to transform a major part of the city and to restore equity to an area that once was home to a thriving Black community.
The valuation will be used to decide how the city proceeds in negotiations with any potential developer, as well as to determine lease rates and lengths of leases, according to a March 18 memo from Alfred Wendler, director of real estate and property management, to the City Council.
Read more about the appraisals on the St. Pete Catalyst website.
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