Accelerating Tampa Bay's transformation with key projects
By Steve Cona
Tampa Bay Business Journal
Published: May 31, 2024

Tampa Bay is on the verge of a remarkable transformation.

With major projects like airport expansions, mixed-use developments, new stadiums and enhanced infrastructure, our region is poised for a growth spurt unlike anything we've seen in recent years. The successful execution of these projects has the potential to reshape our economy, attract new businesses and improve the quality of life for everyone in our community.

However, if we don't prioritize the timely completion of these developments, we risk missing out on these opportunities. Local elected officials must act swiftly to ensure these projects move forward without unnecessary delays.

Think about the big projects that are already underway or on the drawing board, each with the potential to reshape Tampa Bay:

Tampa International Airport is expanding with the red side project and a new terminal, increasing air travel capacity and attracting more visitors. This growth is key for boosting our local economy.

The Historic Gas Plant District redevelopment in St. Petersburg is focused on the new Tampa Bay Rays stadium. This project aims to create a lively mixed-use district with affordable housing, a Black history museum, a hotel, and retail and office spaces. This development will not only make St. Petersburg more attractive but also help promote economic inclusion.

The University of South Florida's new football stadium is another big deal, with a budget of $340 million and a capacity of 35,000 seats. This stadium will be the new home for USF's sports teams and will host community events, adding to the city's energy.

Infrastructure is also a priority, with the Florida Department of Transportation completing the Gateway Expressway and starting work on the Westshore Interchange, which are both designed to make transportation in Tampa Bay easier and more efficient.

The Gasworx development is bridging the Channel district and Ybor City. It's a massive mixed-use space covering nearly 6 million square feet, with a new 390-unit apartment building that includes street-level retail.

Water Street Tampa's second phase is coming with a build-to-suit office tower, residential condominiums, and a mixed-use entertainment space, further cementing Tampa Bay's reputation as a dynamic place for business and leisure.

Each of these projects is critical to Tampa Bay's future. They will create jobs, improve transportation and foster economic development. However, the construction industry is facing challenges, such as labor shortages and high material costs. Delays can increase costs and erode the benefits these projects offer.

Local government must streamline permitting and approvals to prevent these projects from getting stuck in bureaucratic red tape.

While addressing labor shortages is primarily the responsibility of the construction industry, local officials can still play a crucial role in keeping these projects on schedule. By simplifying regulatory processes, improving infrastructure and fostering collaboration between public and private sectors, we can reduce bottlenecks and accelerate progress.

Tampa Bay has the potential to become a vibrant and diverse region. By ensuring the timely execution of these key projects, local elected officials can help drive this transformation. Let's not allow delays to derail our progress. The time to act is now — let's work together to make Tampa Bay the thriving, prosperous community we've always envisioned.