Tuesday Afternoon Update: Florida Trends

Florida has once again solidified its position as the top vacation destination for Americans for the sixth consecutive year. A report from the governor’s office revealed that 15.5% of US citizens opted to visit the Sunshine State for their holidays. Despite this trend, recent data from the US government indicated a 12.5% decline in the number of Canadians crossing the border in February compared to the previous year, with a significant drop of more than 15% among drivers, as outlined by the Sarasota Herald-Tribune.

The Pensacola State College (PSC) recently initiated the construction of a state-of-the-art aviation mechanic training facility valued at $16 million at the Pensacola airport. The program offered by PSC focuses on preparing students to inspect, service, repair, and overhaul various aircraft powerplant systems and components. The funding for this project comes from a variety of sources, including the Florida Department of Commerce, Triumph Gulf Coast, the Santa Rosa County Economic Development, ST Engineering, and in collaboration with the city of Pensacola and the Pensacola International Airport Authority, as reported by the Pensacola News Journal.

Meanwhile, plans are underway for the University of Florida’s Jacksonville campus to introduce a groundbreaking artificial intelligence program, the first of its kind in Florida. This innovative program, set to merge artificial intelligence with the medical field, will involve the implementation of advanced technology to diagnose, treat, and prevent illnesses. Spencer Moore, the Director of External Affairs in UF’s Office for Strategic Initiatives, shared insights about this exciting development during a presentation to a civic organization in Jacksonville on April 7, according to the Jacksonville Daily Record.

In other news, Spirit Airlines announced the departure of its long-standing CEO, Ted Christie, following his successful leadership during the airline’s Chapter 11 bankruptcy restructuring and multiple takeover bids. His exit marked the end of a 13-year tenure with the company, as highlighted by the Orlando Sentinel.

Amerant Bank showcased significant growth in its commercial real estate construction and land financing, with a staggering spike of over 60% in one year, amounting to an increase of more than $180 million. The Coral Gables-based institution reported overall expansion in its commercial real estate loan portfolio, especially in development financing, office, and hospitality asset classes. Notably, Amerant’s construction and land loans rose to $483.2 million in the past year from $300.4 million in 2023, presenting the largest annual increase in recent years, as presented by the South Florida Business Journal.

Switching gears to real estate news, a historic St. Petersburg home that once hosted baseball legend Babe Ruth during his spring training days is currently on the market for $1.86 million. Built in the 1920s, this residence, located in St. Petersburg’s Old Northeast neighborhood, holds a rich history, having been owned by George Gandy Sr., the esteemed builder of the Gandy bridge, and later serving as a temporary abode for Babe Ruth in 1935, as covered by the Tampa Bay Times.

Finally, David Martin, a prominent developer in Miami, recently shared insights about his illustrious career and the monumental projects worth $14 billion in his Terra Group’s pipeline. Despite his understated persona resembling an artsy designer, Martin, with his trademark gold-rimmed glasses, boasts a vast portfolio of significant developments in Miami. His Terra Group has been at the forefront of the city’s real estate landscape, boasting innovative projects and creative designs, such as his office’s bookcase secret door, underscoring his reputation as a visionary developer, as detailed in Florida Trend.