The Tampa Bay area will continue to see real estate growth throughout 2026, but at a slower rate than previous years as developers face new economic challenges, a new survey says.\u00a0<\/p>\n
The American Institute of Architects\u2019 Tampa Bay chapter surveys member architects in the region each year for its annual Voices of Architecture survey, which aims to predict future trends in area real estate and construction activity.\u00a0<\/p>\n
Architects are experts when it comes to predicting local trends, the organization says, because they are hired early in the development process \u2014 often one to three years before a development project comes to fruition.\u00a0<\/p>\n
This year\u2019s survey, released Friday by AIA Tampa Bay, shows 55% of the 92 architects who responded expect demand for architectural services in the Tampa Bay region to increase in 2026. That\u2019s down from 66% in 2025 and 64% in 2024.\u00a0<\/p>\n
At the same time, only 70% of respondents predicted the region\u2019s development-related economy will be \u201cexcellent or \u201cgood\u201d in the coming year. That\u2019s down from 80% in both 2025 and 2024.\u00a0<\/p>\n
Several other key economic indicators saw significant drops in this year\u2019s survey, the release says, including:<\/p>\n
55% expect their department or firm will hire more employees in 2026 \u2014 a 9-point drop from 2025.\u00a036% anticipated that their department or firm would grow by at least 10% in the coming year. That\u2019s a 6-point drop from last year.\u00a0<\/p>\n
\u201cThis reflects how architects feel that the area\u2019s development-related economy likely will grow more modestly in 2026,\u201d Chris Kirschner, President of BDG Architects in Tampa, says in the release. \u201cThat said, the lower level of optimism is not evenly felt across all sectors. Public and higher education work has been negatively impacted the most due to uncertainty in federal and state spending. But the office sector is gaining momentum, we see renewed interest in industrial, and health care and single-family development remain steady.\u201c<\/p>\n
Most respondents in the survey were from Hillsborough or Pinellas counties, the release says, though many work on projects throughout the Tampa Bay region.\u00a0<\/p>\n
\u201cCautiously optimistic is a good way to summarize the survey results,\u201d Frank L. Hearne, Chairman of the Environmental Practice Group with the Mechanik Nuccio Hearne & Silvestri law firm of Tampa and St. Petersburg says in the release. \u201cReal estate development will drive a strong Tampa Bay economy in 2026, and we expect to see continued interest in redevelopment of environmentally impacted sites, including Brownfields redevelopment projects.\u201d<\/p>\n
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