The Tampa Bay area will experience slower growth in real estate development in 2026, according to AIA Tampa Bay’s latest Voice of Architecture survey.

The annual survey of area architects serves to predict the future for area real estate development and construction activity.  Architects are experts on gauging the future because they are hired early in the development process, with projects often being completed one to three years after an architecture firm begins work. 

Parks PR’s Kyle Parks worked with AIA Tampa Bay to gain visibility for the survey, gaining coverage in such outlets as the Business Observer.

He also moderated a February 5 panel event to discuss the results with four industry leaders – Matt Fetterhoff of Phillips Heavy Inc., a subsidiary of Phillips Infrastructure Inc.; L.B. Sierra of the Bank of Tampa; Chris Kirschner of BDG Architects, and Frank Hearne of the Mechanik Nuccio Hearn & Silvestri law firm.

In the 2026 survey, 55% of the 92 architects surveyed expect demand for architectural services in the Tampa Bay area to increase in 2026 – showing a downward shift from the 2025 survey response of 66%, and the 2024 survey response of 64%.

Meanwhile, 70% of architects surveyed predict that the Tampa Bay area’s development-related economy will be “excellent” or “good,” significantly lower than the 80% in 2025 and 2024. 

Costs continue to be challenging, reducing the number of new projects getting off the ground.

“Higher costs are a fact of life for owners and developers these days,” Fetterhoff said. “It’s more important than ever for architects, planners, engineers and construction professionals to collaboratively plan projects, so everyone has clear expectations on costs.”

Of the 92 respondents in the survey, most were from Hillsborough County or Pinellas County, though many of the architects in the two counties work on projects throughout the region. 

“Cautiously optimistic is a good way to summarize the survey results,” Hearne said. “Real 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.”