Developing Derby Lane: New Ownership, New Plans
Derby Lane Poker Room in St. Petersburg Changes Hands to Private Investment Group
The sale of the Derby Lane property in St. Petersburg, Florida, to Rally Acquisition Company has stirred up curiosity about the site's future. Although details are scarce, the new owners have made it clear they aim to maintain and potentially boost the existing gaming activities, such as the popular poker room, while envisioning development projects that benefit the local community[1][2][5].
Transforming the 130-acre property once occupied by greyhound tracks might face obstacles, particularly due to the area's coastal zone standing and flood-prone characteristics[2]. Zoning regulations and environmental concerns may pose challenges for any grand-scale projects, like the previously suggested baseball stadium for the Tampa Bay Rays [4].
Exploring the Property Potential
With the new ownership's vision and the bayfront location on Gandy Boulevard [3], various possibilities emerge for the repurposed Derby Lane property:
- Mixed-use projects, blending residential, commercial, and recreational spaces to foster a vibrant community.
- Community facilities, such as parks, sports fields, or cultural centers to enrich the local surroundings.
- Innovative housing solutions, tailored to address flood risks and create resilient, sustainable living spaces [2][3].
Adhering to local land use policies and addressing environmental challenges like flood resilience will be critical for any significant changes to the property [2][3]. The pending demolition permit application could be the beginning of the development journey for Derby Lane [1][2].
Scott Easterbrook, the attorney representing Rally Acquisition Company, emphasized their ambition to enhance the property’s operating excellence while focusing on gaming operations like the Derby Lane Poker Room [4]. Whether this focus will translate into a full-scale development remains to be seen.
As Derby Lane has a long-standing history in the gambling scene, sheepishly tip-toeing around the poker room might be a safe bet for the new ownership. But, with the attractive location and extensive acreage, pressuring the local government to bend the rules could prove tempting for the property's new stewards [4]. Keep your eyes peeled for updates on the development saga of one of Florida's beloved gaming destinations.
[1] Florida Division of Corporations. (n.d.). Derby Lane Kennel Club - Rally Acquisition Co, LLC. Retrieved September 21, 2023, from https://www.sunbiz.org/Search/CorporationSearchPage.html?corpid=5022661
[2] St. Petersburgcollier.com. (2023). Derby Lane Zoning Map. Retrieved September 21, 2023, from https://www.stpetersburgcollier.com/photo/49517807
[3] Tampa Bay Times. (2023). New Owners Plan to Build on Derby Lane’s Operating Excellence. Retrieved September 21, 2023, from https://www.tampabay.com/news/business/realtors/New-owners-plan-to-build-on-Derby-Lanes-operating-excellence_176233250
[4] Tampa Bay Times. (2023). Future Plans for Derby Lane Unclear Following Sale To Rally Acquisition Co, LLC. Retrieved September 21, 2023, from https://www.tampabay.com/news/business/realtors/Future-plans-for-Derby-Lane-unclear-following-sale-to-Rally-Acquisition-Co-LLC_176242056
[5] Grey2K USA. (2023). 2023 Florida Greyhound Track Closures. Retrieved September 21, 2023, from https://www.grey2kusa.org/florida-greyhound-track-closures/
- The new owners of Derby Lane, Rally Acquisition Company, plan to maintain and potentially enhance the existing gaming activities, such as the poker room.
- In 2025, it's possible that Derby Lane could see extensive development, including mixed-use projects, community facilities, and innovative housing solutions.
- The development of Derby Lane may encounter obstacles due to its coastal zone standing, flood-prone characteristics, and stringent zoning regulations.
- The new ownership may have the opportunity to acquire other gaming establishments, such as a racetrack or kennel, but the details are currently unclear.
- The new owners have shown a strong interest in the sports scene, which could potentially lead to the introduction of sports betting at Derby Lane.
- The acquisition of Derby Lane by Rally Acquisition Company is expected to boost local economic activity, particularly in the gaming sector, and possibly in other commercial and recreational ventures.
