Key Takeaways from the 2025 Westshore Development Forum

Last week, I had the pleasure of joining Tampa business and civic leaders, innovators, policymakers, and industry experts at the 23rd Annual Westshore Development Forum. I was joined by fellow real estate experts for an exploration of the future of the Westshore District, and a deep dive into the opportunities shaping our city’s growth.

The Westshore District is growing, and with 65% of its residents also working in Westshore, the district is primed for commercial and retail growth. Amenities like hyper-local access to work and play, development opportunity and sites, and infrastructure benefits are just some of the reasons why this part of Tampa has some of the most highly sought after commercial real estate in our city.

Within the Westshore District, there are two 100+ unit developments under construction —the MetWest Apartments with 375 units and the Tampa Mariner Street Apartments with 275 units. We are seeing the largest gross number of deliveries the Tampa Bay MSA has ever seen in the last few years, but the deliveries of units are cresting, and absorption is starting to outpace the deliveries. Rent growth has been challenged in the last 18 months but will start to become more aligned with historical 3-5% trends over the next 12-18 months.

Over the past five years alone, Tampa Bay has grown to 3.4 million residents and is expected to grow 30% higher by 2040. Tampa metro also ranks third among all metro areas for private sector job growth in March 2025, having added 13,700 new jobs in the time frame. Looking forward, I’m expecting to see even more growth in multifamily sales, particularly in Class B and Class C properties.

If you’d like to learn more about the multifamily commercial real estate market in Tampa, I’d love to talk to you. Please reach out to [email protected]. Here’s to more growth in our great city!