130-Acre Former FL Greyhound Racing Site Likely To Be Redeveloped By New Owners

ST. PETERSBURG, FL — The 130-acre Derby Lane campus, the site of a former greyhound race track on Gandy Boulevard that dates back to 1925, according to multiple reports.

The property’s owner, St. Petersburg Kennel Club Inc., which owns Derby Lane, merged last week with Rally Acquisition Co., a private equity firm based in Connecticut, the Tampa Bay Times reported.

Though specific plans haven’t been revealed, the new owners plan to redevelop the property. The fate of the track itself is also unknown, though a demolition permit was filed for the building with Pinellas County in February, reports said.

“Rally is excited to complete the acquisition of Derby Lane,” Scott Esterbrook, an attorney representing Rally Acquisition, told the St. Pete Catalyst. “It intends to not only to continue to build on the Club’s excellent gaming operations, it also looks forward to developing its 130 acres for the benefit of the community at large.”

The new ownership team recently secured a $58.25 million loan from Broadway Agency Services, LLC for redevelopment plans at the site, St. Pete Rising said.

Greyhound dogs haven’t competed at the track since racing was outlawed in Florida by a referendum vote several years ago.

The poker room, full bar and kitchen, and simulcast betting on greyhound and horse races continues to operate at the building. Amazon also uses the parking lot as a staging area for its delivery trucks.

There’s some speculation that the property could be redeveloped into a mixed-use development similar to Tampa’s Midtown, Fox 13 said.