June 2025 | Brittney J. Miller

After months of back and forth, the once celebrated deal to build a new $1.3-billion stadium for the Tampa Bay Rays near downtown St. Petersburg is dead. The agreement — part of the larger $6.5-billion Historic Gas Plant District redevelopment project — officially expired at the end of March. Rays owner Stuart Sternberg announced earlier that month the team would not move forward with the project, citing concerns about rising costs from delayed financing votes. St. Petersburg city officials later approved $22.5 million to replace Tropicana Field’s roof, shredded by last year’s Hurricane Milton, in time for the 2026 season.

RECREATION

Tampa has opened the 43-acre, $6.7-million Branchton Regional Park in New Tampa — a project a decade in the making — with a splash pad, pickleball courts, dog parks and more amenities. Nearby Zephyrhills opened its $7.6-million Hercules Park — the town’s first new public park in four decades, complete with a playground, multilevel splash pad and scenic trails.

GOVERNMENT

After four years and $16 million in renovations amid pandemic-related delays, St. Petersburg’s 44,000-sq.-ft. President Barack Obama Main Library will reopen to the public this summer.

HOUSING

St. Petersburg City Council unanimously approved a proposal for a 21-story, $67-million apartment tower bringing 213 units to downtown.
Global real estate brokerage The Agency launched sales for Helios Residences, a collection of 64 luxury two- to four-bedroom residences in Naples ranging between $1.15 million and $2.3 million.
National developer Del Webb announced an incoming Del Webb Explore North River Ranch community in Manatee County that will skip the company’s traditional 55-plus requirement to attract Gen X buyers. The project, stretching 413 acres in Parrish, will feature 901 homes and amenities including a pool with a lazy river, pickleball courts and walking trails. Sales will open in early 2026.

DEVELOPMENT

Tampa-based McKibbon Hospitality, which develops and manages hotels, purchased a 0.74-acre site in downtown’s Channel District for $9.3 million.

EDUCATION

Thanks to a $40-million gift from tech entrepreneur and investor Arnie Bellini and his wife Lauren, the University of South Florida is establishing the Bellini College of Artificial Intelligence, Cybersecurity and Computing. The college will open this fall.

ENVIRONMENT

The nonprofit group Conservation Florida and the Florida Department of Environmental Protection expanded Florida’s biggest state park, Fakahatchee Strand Preserve State Park in Collier County, by 60 acres through land acquisitions.

BANKING

Stuart-based Seacoast Bank is acquiring Sebring-based Heartland National Bank in a transaction valued at $110 million, marking its eighth deal since 2020.

HEALTH CARE

AdventHealth closed on its acquisition of ShorePoint Health’s hospital in Port Charlotte, purchased for $265 million alongside a now-shuttered facility in Punta Gorda.
Watson Clinic, one of Florida’s largest physician-led medical groups, is partnering with Orlando Health to open a $166-million hospital in Lakeland. The seven-story facility will open next June with 300-plus beds.

TECHNOLOGY

IQ Fiber, a Jacksonville-based high-speed internet provider, is establishing a $50-million local underground network and an office in St. Petersburg.
Sarasota-based software company Roper Technologies is acquiring Fort Lauderdale-based software platform CentralReach for about $1.65 billion, marking its third 10-figure acquisition in just over a year.

Beachfront Buy

A Vanderbilt Beach home sold for $10 million in March, marking the Naples area’s second priciest sale so far of 2025 and the fifth highest in Vanderbilt Beach history.

Q & A | CHRIS CURRAN, CO-FOUNDER, CURRAN YOUNG CONSTRUCTION

Talking Tariffs

FLORIDA TREND: How are tariffs impacting Florida’s booming construction industry?

CURRAN: We have not encountered increased costs or supply shortages directly related to the recent reinstatement of Section 232 tariffs or other ongoing tariff discussions. Our primary challenges remain addressing the skilled labor shortage, managing interest rates and handling inflated land valuations. Post-COVID material cost escalation appears to have largely stabilized.

FT: What are the short-term and long-term impacts for the industry?

CURRAN: In the short term, if tariffs lead to higher costs for steel, aluminum or wood, contractors will adapt as we always have. We consistently review cost-reducing design alternatives based on market conditions. In the long term, if these tariffs achieve their intended goal, America may reclaim its status as the world’s leading steel producer, potentially revitalizing steel towns. Alternatively, we may see a shift towards designing buildings with reduced dependence on steel. Either way, construction will continue to evolve.

FT: How might Florida consumers be affected?

CURRAN: Florida, particularly South Florida, often utilizes concrete construction. It is generally more cost-effective than steel structures, quicker to build, less expensive to insure, and requires fewer components to comply with hurricane resistance codes. The rising cost of insurance, driven by recent hurricanes, has made wood construction less feasible, rendering tariffs on Canadian wood less impactful in Florida.

Previous Southwest (Sarasota/Ft. Myers/Naples) Updates: