Hillsborough College approves Rays stadium ‘road map’

The Tampa Bay Rays have secured a non-binding agreement with Hillsborough College that could pave the way for a new stadium in Tampa and, eventually, generate a $34 billion economic impact.

According to the memorandum of understanding (MOU) unanimously approved Tuesday afternoon by the Hillsborough College District Board of Trustees, the Rays would redevelop the 113-acre Dale Mabry site with new academic facilities, a ballpark with adjacent amenities and a sprawling mixed-use community.

Trustees approved the MOU with little discussion, despite its potential impacts on the school, students and the surrounding area. Rays CEO Ken Babby said the team hired global design and planning firm Gensler to help envision the campus project, dubbed “Innovation Edge, featuring Hillsborough College,” as part of the broader master plan.

“When we look at the buildings, respectfully, of Hillsborough College, we know that they’re in need of repair,” Babby said. “We know that there’s significant deferred maintenance, and we’re grateful to the state for stepping in, potentially, to help us along this mission.”

Hillsborough College (HC) would retain ownership of the land and lease everything outside of the Innovation Edge, along the site’s southwest corner, to the Rays for at least 99 years. The team must approve all design, aesthetic and architectural plans for the new campus.

The MOU states that Hillsborough County would own the stadium if the Rays receive public funding. That would keep the Rays from paying property taxes on those acres.

Babby said the college, the Rays, the state and “many others in the community would benefit from this moment.” However, he also noted it was just a first step in an extensive process.

HC would be responsible for constructing and maintaining the campus area fronting Louis Avenue. Jonathan Squires, general counsel, said the Rays “would like the college to be a key part of a new stadium development project here on the Dale Mabry campus.”

“For clarification, this MOU is a non-binding road map of the major terms that both the college and the Rays would like to see in any final binding documents regarding the project,” Squires said. “For private sector folks, think about it more as a term sheet rather than a contract.”

An aerial view of Hillsborough College’s 113-acre Dale Mabry site. The New York Yankees spring training and minor league facilities (upper right) are adjacent to the property. Image: HC.

HC’s leadership will now begin negotiating those contracts. Squires also noted that the City of Tampa, the county, the water management district and other stakeholders, including Major League Baseball, must still approve the project.

“Depending on how those go, it may need us to come back to the table and change part of something we had agreed to or not,” Squires added.

He said the MOU “contemplates that we would have final binding agreements” ready within 180 days. “I think at this point, that’s a very realistic timetable,” Squires said.

The presentation and discussion, excluding public comments, took five minutes. However, Babby briefly highlighted three conceptual slides, subsequently obtained by the Catalyst, that shed some additional light on the monumental project.

A “Champions Quarter” would feature a new ballpark to the east of the Innovation Edge. The area is a “bold, high-energy destination at the center of Tampa’s sports and entertainment culture.”

The Innovation Edge is a “hub for learning, health, performance and discovery – powered by HC, sports science and Tampa’s emerging innovation economy.” According to the presentation, a mixed-use development known as The Canopy is “a parkside neighborhood shaped by shade, greenery, belonging and the rhythms of everyday life.”

Dr. Michael Garcia, a trustee, called the MOU a “major decision” and expressed hope that it “leads Hillsborough College towards growth and advancement.” He also noted the project would impact students.

“One thing that I’ve learned at Hillsborough College is that our community is resilient,” Garcia continued. “Our faculty, staff and students have continually shown strength and adaptability in the face of change. Let’s not ever forget that the core mission of this institution is to educate and prepare the leaders of tomorrow.”

In a prepared statement, Dr. Ken Atwater, president, said the partnership “represents a transformational opportunity” for the college and its student experience. “A project of this scale and vision creates new pathways for learning, workforce development, internships and career-connected education.”

Babby said the project would generate an estimated $34 billion economic impact and create 12,000 jobs. He and the team’s new ownership group have repeatedly stated that they plan to move into a new stadium when their lease at Tropicana Field in St. Petersburg terminates following the 2028 season.

“We are encouraged to take this early but very important step forward in bringing a shared and innovative concept to life for all of Tampa Bay,” Babby said after the meeting. “We are grateful for today’s unanimous vote, which reflects what’s possible when we all listen, learn and work together to realize a vision that will make our community better.”

The project’s conceptual zones. Image: Tampa Bay Rays.