Tampa Bay Sees Flurry of New Developments, From Affordable Housing to Luxury Condos

From a new affordable housing complex in West River to a luxury condo tower in downtown St. Pete, the Tampa Bay area is experiencing a wave of new construction projects.

Published on Feb. 22, 2026

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Tampa Bay is seeing a surge of new development projects, including the opening of The Canopy at West River affordable housing complex, the debut of the Central Park St. Pete food hall, potential redevelopment plans for USF's medical simulation center, and the upcoming Roche Bobois St. Pete Tower luxury condo project.

Why it matters

These new developments reflect the continued growth and evolution of the Tampa Bay region, with a mix of affordable housing, dining and entertainment options, and high-end residential projects. The investments highlight the area's appeal to both residents and businesses, though there are also concerns about affordability and equitable development.

The details

The Canopy at West River is a new affordable housing complex in Tampa's West River neighborhood, featuring 384 units priced for those earning 22-80% of the area median income. The complex replaces the former North Boulevard Homes public housing project. In St. Petersburg, the long-awaited Central Park food hall is opening its first two concepts this week, with more to come. Meanwhile, USF is considering redeveloping its medical simulation center in downtown Tampa, and a luxury condo tower called the Roche Bobois St. Pete Tower is in the works, with the developer painting nearby buildings pink to advertise the project.

  • The Canopy at West River opened today, February 18, 2026.
  • Central Park St. Pete is opening its first two concepts this week.
  • USF is in the 'very early' stages of potentially redeveloping its medical simulation center.

The players

Jane Castor

The mayor of Tampa, who is attending the opening of The Canopy at West River affordable housing complex.

Hi Hospitality Group

The group leading the West Riverwalk Project, which includes The Canopy at West River.

Valor Real Estate Development

The developer behind the upcoming Roche Bobois St. Pete Tower luxury condo project in downtown St. Petersburg.

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What they’re saying

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, Grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

These new development projects in Tampa Bay highlight the region's continued growth and evolution, with a mix of affordable housing, dining and entertainment options, and high-end residential projects. However, there are also concerns about affordability and ensuring equitable development that benefits all residents.