Florida TaxWatch warns of rising construction costs
Florida TaxWatch on Wednesday released its latest Economic Commentary, “Trends in the Cost of Construction Materials,” a comprehensive analysis detailing the escalating prices of construction materials at both the state and national levels. The report aims to inform Florida taxpayers about current and potential future costs within an industry that constitutes a significant portion of the state’s economy. Contributing a staggering 5.7 percent, or $97 billion, to Florida’s Gross Domestic Product (GDP) in 2024, the construction industry is a cornerstone of the state’s economic vitality. However, according to the new commentary, this crucial sector is facing a period of heightened volatility. More from the Tampa Free Press and Florida TaxWatch.
SunRail sparks mixed-use boom in Central Florida, Polk County eyes future connection
SunRail continues to serve as a catalyst for major real estate investment across Central Florida, with more than $1.8 billion in transit-oriented development either completed or underway near its stations. As the commuter rail system expands its reach, developers and local governments are leveraging its connectivity to drive mixed-use growth, attract employers and shape future communities. More from the Orlando Business Journal.
Dick’s Sporting Goods completes multibillion-dollar deal to acquire Foot Locker
Dick’s Sporting Goods Inc. has officially closed a $2.4 billion deal to acquire Foot Locker, one of the world’s largest shoe retailers. Earlier this year, Foot Locker announced it had signed a lease in Pinellas County, and would move its global headquarters to the St. Petersburg area. It doesn’t appear that the acquisition will affect the company’s move to Florida. More from the Tampa Bay Times.
Pensacola looks to tackle housing crisis by boosting residential density
Pensacola is looking to increase the density of single-family zoned areas as part of the rewrite of its land development code that is in part aimed at making homes more affordable. The draft of the city’s rewritten Land Development Code was published on Sept. 9 for public comment, and one of the significant changes includes density changes in residential zoning areas. Mayor D.C. Reeves expects pushback to the proposed changes, but sees them as the best option for growing housing stock. More from the Pensacola News Journal.
Can Orlando’s baseball dream survive after its biggest investors drop out?
The Orlando Dreamers’ top two investors appear to no longer be involved in the bid to bring big league baseball to Orange County. Dr. Rick Workman of Windermere, the founder of Heartland Dental, instead joined the group headed by homebuilder Patrick Zalupski, which has a deal to buy the Tampa Bay Rays, The Athletic reported Monday. That group is widely reported to be looking for stadium sites in the Tampa area and the deal could close in the coming weeks, the publication said. More from the Orlando Sentinel.
Recreation Trends
Miami has a padel ‘obsession’
Many of the city’s well-heeled and wellness-inclined have developed a fervor for padel, the racket sport that is easier than tennis, harder than pickleball and more exclusive than both. Indoor and outdoor padel courts, with their signature glass walls, are proliferating in warehouses, parks, former parking lots. There are courts at the Ritz-Carlton in Key Biscayne, and plans for some on the roof of a garage in Miami Beach. A $2 billion development underway in midtown boasts that it will include the nation’s largest padel club.
» More from the South Florida Sun-Sentinel.
Florida Trend Exclusive
Guardians of green
Florida boasts more than 12 million acres of public land, coating around a third of the state. That includes 175 state parks. Three national parks. Two national preserves. Two national seashores. Three national forests and 38 state forests. Thirty wildlife refuges — the third-most of any state. And more than 6.1 million acres of wildlife management areas. On Sept. 27, you can celebrate those lands — and even give back to them — on National Public Lands Day.
» Read more from Florida Trend.