Tampa Bay’s healthcare industry is in the midst of rapid expansion, but leaders say the challenge lies in making sure that growth aligns with the community’s core needs: accessibility and affordability.

At the recent Invest: Tampa Bay leadership summit, Chriss Papayannis, vice president of advisory at Realty Trust Group, noted that while hospital systems are mobilizing to grow, they’re also navigating rising costs, environmental constraints, and limited real estate options.

The panel, which also included Sean Williams of Carbon Design & Architecture and Thorn Baccich of Flagship Healthcare Properties, highlighted how real estate development, healthcare delivery, and community priorities are increasingly intertwined.

Tampa Bay’s population surge has spurred major investments—from Tampa General Hospital’s property acquisition in Hyde Park to Johns Hopkins All Children’s $62 million campus expansion in St. Petersburg. Yet, hospitals are balancing the push for growth with the need to keep healthcare both affordable and accessible. Baccich pointed out that local development fees, which can vary significantly by county, directly impact project scale and viability.

Another pressing issue is workforce housing. Williams emphasized that many nurses and physicians struggle to find affordable homes near hospitals, despite the need to live within close range for on-call responsibilities. This shortage not only affects healthcare delivery but also limits the region’s broader economic growth.

In response, Tampa General Hospital has partnered with The Michaels Organization to build nearly 170 units of workforce housing in Brandon—an important step, but only part of the solution. Papayannis stressed the need for long-term strategies that go beyond housing, including stronger educational partnerships to cultivate local healthcare talent.

With its growing academic base, young workforce, and emerging innovation districts in places like St. Petersburg and Water Street, Tampa Bay has the foundation to thrive. Williams noted that younger professionals are drawn to Tampa’s energy and are fueling advancements in research and innovation—key factors in keeping the region competitive.

As Papayannis concluded, Tampa Bay’s next stage of growth will depend on aligning infrastructure, talent development, and innovation to build a healthcare system that serves the entire community while sustaining expansion.

Source: caa