As Rays stadium talks reignite, Welch wants to study the future of St. Pete's Albert Whitted Airport
By Breanne Williams
Tampa Bay Business Journal
Published: Feb 2, 2022

With demand for real estate in downtown St. Petersburg at an all-time high, Mayor Ken Welch has asked city staff to study the future of Albert Whitted Airport, which sits on more than 100 acres of downtown waterfront property.

Welch, who took office in early January, said on Twitter that he has “instructed staff to further study economic and community impacts at Albert Whitted Airport to better identify the best use for the site.” The city owns the airport property and is also the airport's operator. It opened in the 1920s, has two runways and is used entirely for private aviation. There are no commercial airline services at the airport.

There are no other parcels of land this size left in downtown St. Pete — the closest comparable property would be the Tropicana Field site, which spans 86 acres. The airport property also acts as a southern endcap to the wave of development along the downtown waterfront.

Welch's plan to study the airport property has created a buzz in St. Pete's real estate community. The last master plan for the airport was completed in 2007; in 2003, St. Pete voters chose to keep the airport open rather than have it transformed into a mix of a 60-acre park and a 50-acre urban, mixed-use development.

The study could unlock the value of the airport's real estate at a pivotal moment in downtown St. Petersburg. Demand and prices are at an all-time high for commercial and residential properties. The study also comes as talks of a new Tampa Bay Rays stadium have been reignited following the team's announcement that Major League Baseball has quashed its plan to split its season between Tampa and Montreal. Both Welch and Tampa Mayor Jane Castor are weighing their options for Rays stadiums.

“I think it’s very exciting,” Mack Feldman, vice president at Feldman Equities, told the Tampa Bay Business Journal. “Next to the Trop site, it's arguably the most highly desirable development parcel in all of St. Pete. In my personal opinion, it's very much underutilized as an airport right now."

If the study determines an airport is no longer the best fit for downtown, Feldman said he believes the property would more than likely be tapped for commercial uses or public amenities rather than residential skyscrapers. For a property as unique as the airport's, Feldman said "the sky is the limit." It could be home to anything from a stadium to a large public park.

Developer Bowen Arnold, manager/principal of DDA Development, said the unique zoning and configuration of the land would make the site an interesting but exciting project for someone to undertake.

Arnold said he does not see “a big commerce angle” tied to the existing airport.

“A park or a stadium would be really nice if that was feasible,” Arnold said. “The city’s done such a great job of not messing up the water with the museum and the pier and the yacht club. It’s been well-coordinated and designed from the start. I think a park and or a stadium would be a perfect use there.”

Jason Mathis, CEO of the St. Petersburg Downtown Partnership, said the study should provide a better understanding of what the existing facilities provide for the community and whether redeveloping the property is in the city's best interest.

“My feeling is that we are going to study it, we’re going to look at the data that is provided and then decide what the best way forward is," Mathis said.

Ken Jones, CEO of Third Lake Partners, echoed the need for a study to determine the highest and best use for the site. He said he hopes the data answers whether that is a private airfield or a combination of a public use/public space versus private development.

A joint venture between the government and the private sector could flourish on the site, Jones said, to do smart development that drives economic growth for the region. He said if the study raises the argument that redevelopment might be more beneficial from a growth perspective than the existing airport, then that’s something he believes is worth examining.

“What would be a new tax base value if the property were to be redeveloped from the airport to some form of multifamily or some sort of office or retail?” Jones said. “I’ll be curious to see what the numbers bear out in the study. We would certainly be an interested party to explore smart development in partnership with the city.”