Blackstone Real Estate Group has purchased the Sunseeker Resort in Port Charlotte from Allegiant Travel Co. for $200 million, far below its $600M+ construction cost. The resort has been renamed Sunseeker Resort Florida Gulf Coast, Curio Collection by Hilton, aligning with Hilton’s global brand. The rebrand drops “Charlotte Harbor” to broaden its market reach and position the property as a premier Gulf Coast destination.
U.S. apartment rent growth stalled in July, with more than half of the 50 largest multifamily markets seeing month-to-month declines. The national average rent held steady at $1,717, marking the sixth straight month of flat or negative growth, while annual growth slowed to 1.1% from 1.5% in January.The slowdown is driven by higher supply and softening seasonal demand, which typically peaks in summer. Regionally, the Midwest and Northeast led with modest gains, while the South and West posted declines, especially in markets facing heavy new construction.San Francisco, Chicago, and San Jose topped annual growth, while Austin, Denver, and Phoenix led in annual declines. This reflects a growing divide between Midwest/coastal markets that remain resilient and Sun Belt markets where supply is outpacing demand.
The Federal Reserve’s latest meeting minutes revealed new concerns about the housing market, which has been dragging down economic momentum. Policymakers noted weakening demand, falling prices, and declining building permits—raising worries that housing could become a broader risk to jobs and growth. While the Fed also flagged risks from tariffs, the labor market, and AI’s impact on employment, the housing slowdown stood out as a new focus. Fresh data confirmed the slump, with flat home sales, subdued prices, and low builder confidence, suggesting housing activity will likely soften further. This shift could influence upcoming rate decisions, with Chair Jerome Powell hinting at a possible September rate cut.
Tampa developer Darryl Shaw is still open to building a Tampa Bay Rays stadium on his Ybor City land—despite it being slated for a women’s soccer venue—making it a top contender for the team’s future home, according to Commissioner Ken Hagan.
Costco is opening a new store in The Villages, Florida, on August 6, 2025, at the Buffalo Ridge Shopping Plaza on County Road 466, with doors opening at 8 a.m. This location is part of a broader expansion that includes seven new stores in August across North America. The Villages store will offer membership incentives for first-time and returning members with lapsed accounts. Costco recently updated its hours, allowing Executive members early access at 9 a.m. and extending regular Saturday hours to 7 p.m. As of July 8, there are 35 Costco locations in Florida, with more potentially on the way.