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Rally Development seeks to redevelop a Florida site into a mixed-use complex, possibly including a Rays stadium, with a $58.25M loan.
Rally Development is pursuing a major redevelopment of the 131.5-acre Derby Lane site in St. Petersburg, Florida, formerly home to a century-old greyhound track.
The company, which acquired the property in April via a merger, secured a $58.25 million loan and hired Berkadia to market the land for a project estimated to cost hundreds of millions to billions of dollars.
While no final plans are set, a new stadium for the Tampa Bay Rays is under consideration, though no agreement has been made.
The project aims to create a mixed-use complex with residential, commercial, and entertainment components, targeting economic revitalization and job creation, but specific designs and timelines remain pending.
Rally Development busca reurbanizar un sitio de Florida en un complejo de uso mixto, posiblemente incluyendo un estadio de los Rays, con un préstamo de $58.25 millones.