$2.3 Billion on the Clock

Real Tampa Bay Weekly 
April 20, 2026

Anothe great week around the bay. A lot moving at once — port infrastructure, a stadium deal that's getting louder, Gasworx keeps stacking milestones, and some capital moving around St. Pete and Sarasota worth knowing about. Seven stories this week. Let's start with the one with the biggest price tag.

The Rays Stadium Deal Is Sitting at $2.3 Billion

What happened: A draft agreement was released this month outlining the plan for a new Tampa Bay Rays stadium on Hillsborough Community College's Dale Mabry campus. The target opening is 2029.

The details: The Rays are proposing to put in at least $1.235 billion in private money and cover any cost overruns. The public funding ask sits between $1 billion and $1.065 billion, coming from Hillsborough County, the City of Tampa, and tax dollars tied to the Drew Park area. The stadium would anchor a mixed-use district with parks, plazas, shops, and housing around it — similar to how The Battery is built around Truist Park in Atlanta. There's a June 1, 2026 deadline for approvals if the 2029 opening stays on schedule.

Why it matters: This isn't just a ballpark. The deal turns a college-adjacent site into a full mixed-use district using tax capture, tourist dollars, and a 35-year lease. How the public funding vote goes will shape what that corner of Tampa looks like for decades.

My take: The economics are still being debated. Economic impact studies commissioned for this deal project between $55 billion and $75.5 billion in activity over 30 years. Those numbers have drawn skepticism. The June 1 deadline will force a real decision fast.

Port Tampa Bay Gets $10 Million to Go Deeper

What happened: Port Tampa Bay locked in $10 million in federal funding to move forward on its Tampa Harbor Navigation Improvement Project — the biggest infrastructure project in the port's history.

The details: The funding is split between $3 million for planning and design and $7 million for Phase 1 development through the U.S. Army Corps of Engineers. The goal is to deepen the main shipping channel from 43 feet to 47 feet along a 42-mile stretch. That extra depth lets the port handle larger ships. Congress authorized the project in late 2024. Construction could start as early as 2027.

Why it matters: Deeper channels mean bigger ships moving more cargo. Fuel, building materials, and goods for the entire I-4 corridor flow through this port. Every development project in the region depends on that supply chain.

My take: This project won federal authorization and now federal dollars in the same cycle. That combination doesn't happen slowly. 2027 construction start looks real.

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Gasworx Keeps Building

What happened: Olivette, the tallest residential building currently under construction at Gasworx in Ybor City, has topped out. Down the street, The Stevedore welcomed its first residents on April 1.

The details: Olivette sits at 1401 Channelside Drive. It's 10 stories, 376 apartments, and has more than 29,000 square feet of ground-floor retail plus a 481-space parking garage. Two amenity courtyards sit on the 7th floor overlooking the district. Another building, The Luisa, hit its structural peak in March. All three — Olivette, The Stevedore, and The Luisa — are targeting 2027 completion. Still on deck: a Grow Financial headquarters office tower, a 28,000-square-foot marketplace in a converted warehouse, and Gasworx Park, a one-acre green space. At full buildout, Gasworx adds roughly 5,000 residences, 500,000 square feet of office, and 120,000 square feet of retail to the Ybor-to-Channelside corridor.

Why it matters: People are living there now. The Stevedore has residents. This is no longer just a future story.

My take: Three buildings in the same district hitting major milestones in the same month. The velocity here is real.

A Dallas Firm Just Spent $18.5 Million on Central Avenue

What happened: Dallas-based investment firm 90Ten made its second purchase along Central Avenue in St. Petersburg's Edge District, paying $8.5 million for a stretch of storefronts from 965 to 1041 Central Avenue.

The details: The new acquisition adds to a December 2025 purchase of nearby buildings, bringing 90Ten's total Edge District investment to about $18.5 million. Current tenants across both properties include Ashe Couture Boutique, Matter of Fact, Sans Market, Poppo's Taqueria, Pure Green, Enigma, The Candle Pour, and Sweetgreen. Separately, a planned 20-story tower for the area — the Edge Collective's second phase — is moving forward with hotel, office, and more retail.

Why it matters: A national firm buying twice on the same corridor in four months is a clear bet that Central Avenue's retail base is getting more valuable, not less.

My take: This is institutional capital buying a street, not just a building. That's a different kind of conviction.

Michael Jordan's Private Club Is Expanding Before It Opens

What happened: 1000 NORTH, a private dining and social club co-founded by Michael Jordan, is going under contract to buy a second parcel for its upcoming Sarasota location — before the first space even opens.

The details: The main space is inside the BLVD Sarasota building at Boulevard of the Arts and North Tamiami Trail. It's just over 13,000 square feet across two levels, with private dining rooms, a wine lounge, and members' lockers. The new parcel next door is about 10,500 square feet. Annual dues run around $6,000. The club's partner list includes Serena Williams, Bryant Gumbel, Ahmad Rashad, and golf legend Ernie Els. Opening is planned for later this year, with about 40 jobs coming with it.

Why it matters: Pre-opening expansion means demand came in stronger than the original footprint could handle. That's a clean signal on what the market here will actually support.

My take: The original 1000 NORTH is in Jupiter. Sarasota is the second location. The Gulf Coast is now on the short list for this level of private hospitality.

SoHo Saloon Is Becoming Good Luck Chuck's

What happened: SoHo Saloon at 410 S. Howard Ave. has closed after 14 years. The space is being reimagined as Good Luck Chuck's, a bar built around 1970s–1990s music and themed nights. Opening is targeted for early to mid-May.

The details: Same location, new identity. Good Luck Chuck's is positioning around a specific entertainment concept — era playlists, themed nights, music-first atmosphere — rather than the open-format approach SoHo Saloon ran.

Why it matters: SoHo's next generation of bars is moving toward tighter, more specific concepts. That's a shift from the broad-appeal model that defined the corridor for years.

My take: A 14-year-old bar closing is news. What replaces it tells you where the neighborhood is heading.

The Bluffs in Clearwater Is Under Construction

What happened: This was the project we got to visit the groundbreaking ceremony at last week. Well, construction has started on The Bluffs, a 28-story mixed-use tower on the former Clearwater City Hall site. The project adds about 400 luxury apartments overlooking the waterfront.

The details: The site sits at the center of Clearwater's broader downtown push to activate ground-floor uses and pull residents closer to the water. The Bluffs is part of a wider shift happening across the bay — from downtown Tampa to St. Pete to Clearwater — where waterfront, high-rise residential has become the standard play for empty or underused downtown parcels.

Why it matters: A former city hall site becoming a 28-story residential tower is a clean picture of how Clearwater is repositioning its downtown core.

My take: The groundbreaking happened last week. Dirt is moving.

Rumor Roundup

A few things circulating that don't have enough confirmed detail to feature yet — but worth watching:

Rays stadium naming rights — Early conversations about a corporate naming rights deal for the proposed stadium district have been mentioned in local circles. Nothing confirmed.

Second Midtown Tampa tower — Reports suggest Bromley Companies is advancing plans for a second residential tower at Midtown Tampa on the last buildable parcel behind Shake Shack. No formal announcement yet.

Live Local Act pipeline — The City of Tampa updated its Live Local Act projects map this month, showing a growing list of workforce housing proposals in entitlement across multiple neighborhoods. No single headline project, but the volume is worth tracking.

7 stories this week. A stadium deal on a clock, a port getting ready for bigger ships, and a neighborhood in Ybor where people are actually moving in now.

See you next week.

— Real Tampa Bay

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