$462M Naples luxury developer looks north with Tampa purchase

Stock Development, the Naples developer, says it is planning an “exceptional residential experience” for a piece of property it bought in Tampa last week. 

The $40 million purchase is of an existing building at 601 N. Ashley Drive in the city’s downtown. 

Keith Gelder, president of land development for Stock, says in an email that the company is expanding into Tampa as part of strategy “to build on our momentum along Florida’s West Coast.” 

Stock is well-known luxury developer in the region. 

It is currently building the Ritz-Carlton Residences in Naples, a five-building complex sitting on 6 acres. 

The project is over 80% sold with more than $500 million in sales, Gelder says. It is on track for occupancy in 2026. 

As for Stock’s plans in Tampa, details will be shared as planning progresses, he says. Stock had $462 million in revenue in 2024.