Updated August 2, 2026
I keep an eye on Panama City Beach development because buyers ask me the same two questions: What is actually being built, and what is still only a plan?
That difference matters. A hospital under construction is not the same as an amusement project waiting for development review. A City Council approval is not the same as a groundbreaking. A rumor about Costco is not a confirmed tenant.
Here is where the major Panama City Beach projects stand as of August 2, 2026, including the new Shipwreck Island proposal, the latest U.S. 98 timelines, the Shell Point Surf Club wave pool and the Costco rumors.
The Short Version
- FSU Health hospital: The planned 100-bed hospital near Highway 79 is under construction. Completion is currently projected for 2027.
- Shipwreck Island: A request to replace an existing water-play structure with a new 50-foot slide complex is scheduled for the August 12, 2026 Planning Board meeting. It is not approved yet.
- U.S. 98: The Mandy Lane-to-Richard Jackson Boulevard work is currently estimated for completion in late 2027. The separate Richard Jackson Boulevard-to-Hathaway Bridge phase is estimated for winter 2030.
- Shell Point Surf Club: The proposed surf lagoon near Topgolf has city approvals and still appears active, but I could not verify that construction has started. The earlier 2027 opening target is not firm.
- Bonny Read Fun Park: City Council approved the conditional use in July 2026. The project still has to complete development review and permitting before construction.
- Costco: Still a rumor. Costco does not list Panama City Beach on its official new-locations page.
Project | Status on August 2, 2026 | What to Watch |
|---|---|---|
FSU Health hospital | Under construction | Projected 2027 completion |
U.S. 98 widening | Active construction in multiple phases | Different 2027 and 2030 timelines |
Shipwreck Island slide complex | Pending Planning Board request | August 12, 2026 meeting |
Shell Point Surf Club | Approved and active; construction not verified | Financing, lease commencement and groundbreaking |
Bonny Read Fun Park | Conditional use approved | Development review and permits |
Costco | Not officially confirmed | Corporate announcement, lease or permit |
For current properties, start with my Panama City Beach real estate guide or search Panama City Beach homes and condos for sale.
1. FSU Health Hospital Near Highway 79
If you have driven north on Highway 79 lately, this is the project that is hard to miss. The FSU Health campus covers approximately 87 acres near Highway 79 and Philip Griffitts Sr. Parkway.
The medical-office building opened in 2024 and includes urgent care, primary care, outpatient surgery and specialty practices. The next phase is a planned 100-bed inpatient hospital with an emergency center, surgery, cardiology, imaging and other hospital services. Tallahassee Memorial HealthCare currently projects completion in 2027.
This is one of the few projects in this article that is clearly under construction. It matters most to full-time residents, retirees and medical workers. It may also support housing demand around Highway 79, Ward Creek and Latitude Margaritaville, but it does not make every nearby home a good buy. Insurance, HOA costs, traffic, builder pricing and resale competition still have to make sense.
Read my full guide to what the FSU Health hospital may mean for Panama City Beach real estate. You can also review the official hospital construction information from Tallahassee Memorial HealthCare.
2. Latitude Margaritaville and Ward Creek Keep Growing
Latitude Margaritaville Watersound reported nearly 2,400 home closings and about 208 homes under construction in mid-2026. The first development area was originally expected to have about 3,500 homes. Developers now expect it to finish closer to 3,700.
Another 3,500-home area is planned farther west along the Intracoastal Waterway, but it does not have a firm start date. In the June 2026 update, the developer said work in that next area was not expected for roughly another year and a half to two years. That is an estimate, not a construction commitment.
Nearby Ward Creek is planned for approximately 1,600 homesites across communities that include Bayside, Salt Grass and Breakwater. Toll Brothers is marketing to-be-built and quick-move-in homes in Breakwater, a gated neighborhood with a clubhouse, pool, fitness center, tennis, pickleball and a playground.
For buyers, the practical question is how a builder home compares with the resale market. Check the base price, lot premium, upgrades, deposit terms, HOA fees, insurance, completion language and nearby inventory. Builder incentives can help, but they can also make it harder for an owner to resell while the builder is still offering new homes.
Sources: Latitude Margaritaville’s June 2026 growth update, Ward Creek community information and Breakwater at Ward Creek builder information.
3. Watersound West Bay Center and the New Publix
Watersound West Bay Center is being developed near Latitude Margaritaville and the Highway 79 corridor. St. Joe announced construction of a Publix Super Market, an adjacent liquor store and additional retail space. The larger center is planned for a mix of shopping, restaurants, offices and medical uses.
This project may not get the same attention as a new attraction, but it is important for people who live here year-round. Grocery shopping, healthcare and restaurants close to home make the Highway 79 area more practical for full-time residents.
Buyers should still verify what is open now. A long-range site plan can show future buildings that may take years to arrive or may change altogether.
Official source: St. Joe’s Watersound West Bay Center and Publix announcement.
4. Breakfast Point East
Breakfast Point East is planned for more than 700 homesites. Site work is underway on the first 235 homesites, according to St. Joe’s current project update.
The approved long-range plan is much larger. It allows up to 440 multifamily units, 160,000 square feet of retail, 75,000 square feet of office space and 750 hotel rooms. That does not mean all of those buildings are under construction. The first residential phase is the part moving now.
This area is worth watching because it could add new homes close to the center of Panama City Beach. It can also create more competition for existing homes and long-term rentals. Buyers need to look at the phase beside the property, not just the total numbers in the master plan.
Official source: St. Joe’s current project updates.
5. Front Beach Road and U.S. 98 Construction
Front Beach Road improvements include roadway work, drainage, sidewalks, lighting, landscaping, utilities and signage. Segment 3, around the State Road 79 and Front Beach Road area, was completed in early 2026. Other segments have their own schedules, so owners should check the exact work zone near their property.
That is especially important for vacation rentals. Even useful road work can lead to detours, construction noise, harder parking access and unhappy guests while it is underway.
City sources: Panama City Beach CRA projects and the Front Beach Road Segment 3 page.
U.S. 98: Mandy Lane to Richard Jackson Boulevard
FDOT describes this as a 4.8-mile widening from four to six lanes. The project includes sidewalks, bicycle lanes, signal upgrades, drainage work and improvements at the Pier Park Drive intersection. The current estimated cost is about $110 million, with completion projected for late 2027.
U.S. 98: Richard Jackson Boulevard to Hathaway Bridge
This is a separate 3.565-mile phase with a different timeline. FDOT lists an estimated cost of about $59 million and a projected completion in winter 2030. Plans include six lanes, seven-foot bicycle lanes, six-foot sidewalks, ADA pedestrian work, drainage and traffic-signal improvements.
Those dates can move because of weather, utilities, design changes and material availability. If you are buying near the corridor, drive it during weekday traffic and a busy weekend. Also check whether the property’s regular entrance is affected by a median, turn restriction or temporary work zone.
Official FDOT pages: Mandy Lane to Richard Jackson Boulevard and Richard Jackson Boulevard to Hathaway Bridge.
Buyers comparing the east side can also explore Thomas Drive homes and condos.
6. Shipwreck Island’s Proposed 50-Foot Slide Complex
This is the newest proposal in the update. The Panama City Beach Planning Board is scheduled to consider Shipwreck Island’s request on August 12, 2026.
LSE Shipwreck Island, LLC is requesting a Large Conditional Use for the approximately 18.91-acre waterpark at 12201 Hutchison Boulevard. The request calls for relocating an existing water-play structure and replacing it with a new 50-foot-tall slide complex.
The meeting has not happened yet, so the new slide should not be called approved or under construction. I also did not find a public rendering of the proposed slide complex. The aerial photo below shows the existing park, not the new design.
If approved and built, a new slide could help refresh one of Panama City Beach’s longtime family attractions. For nearby owners, the details to watch are construction timing, parking, traffic and operating noise. One new attraction alone does not guarantee higher vacation-rental income.
Review the official August 12, 2026 Planning Board agenda and the Shipwreck Island website.
7. Is the Shell Point Surf Club Wave Pool Being Built?
Shell Point Beach & Surf Club is planned for approximately 10.5 acres beside Topgolf in Pier Park City Center. The main feature would be an approximately 2.5-acre Endless Surf lagoon capable of producing different waves for beginners and experienced surfers.
Plans have also included family pools, a children’s splash area, a clubhouse, restaurant and bar, retail and rental space, a surf academy and event areas.
The project received city approval in 2025. During St. Joe’s April 30, 2026 earnings call, company leadership said it had made significant progress and expected lease commencement relatively soon. That tells me the project was still active, but it is not the same as confirming a groundbreaking.
Earlier announcements called for construction to begin in early 2026 and an opening in 2027. As of August 2, I could not find a later official announcement confirming that construction had started or giving a firm opening date.
My view is simple: it could be a strong year-round addition near Pier Park if it gets built. It would give visitors something to do away from the beach and could help during cooler months or days when Gulf conditions are poor. It is also an expensive, specialized project with financing, engineering and operating risks. I would not advise a buyer to pay extra for a nearby property based on a promised 2027 opening.
Review the Shell Point Beach & Surf Club website, the Endless Surf announcement and my Pier Park development update.
8. Topgolf, Pirates Voyage and Bonny Read Fun Park
Topgolf and Pirates Voyage are already open. They should no longer be described as coming-soon projects.
Topgolf opened in June 2025 and became the first operating business in the larger Pier Park City Center development. Pirates Voyage also opened in June 2025 on Panama City Beach Parkway.
Official attraction pages: Topgolf Panama City Beach and Pirates Voyage Panama City Beach.
Bonny Read Fun Park
Panama City Beach City Council approved a conditional use for Bonny Read Fun Park in July 2026. The approximately 4.51-acre attraction is planned near Pier Park West and Pirates Voyage. Current plans include miniature golf, an indoor arcade and an electric go-kart slick track.
Residents raised concerns about noise, lighting and drainage. The City Council required electric go-karts. The project still has to complete development review, permitting and other preconstruction work, so it should not be described as under construction. No dependable opening date has been announced.
Sources: July 2026 City Council approval report and the official June 10 Planning Board agenda.
9. Is Costco Coming to Panama City Beach?
Costco rumors keep coming back, especially around Pier Park and the Highway 79 corridor. I checked again for this update and found no official Panama City Beach location.
Panama City Beach is not listed on Costco’s current new-locations page. I also did not find a Costco corporate announcement, a signed lease identified by a local developer, a named Costco tenant in a reliable government filing or a permit tied to a Costco project.
A Facebook post, map pin or statement that a company is “looking at” Panama City Beach is not enough. Large retailers often study several markets without building in all of them.
Bottom line: Costco is still a rumor as of August 2, 2026. Check Costco’s official new-locations page before sharing an opening date.
10. Proposed Residential Development at 12610 Front Beach Road
Applications filed by GE/Front Beach, LLC and Blu Onx North Florida, LLC involve approximately 29.2 acres at 12610 Front Beach Road. The June 2026 Planning Board agenda included a Large Site Development request. The July agenda included a request for a Traditional Neighborhood Overlay District. Application materials describe a residential subdivision.
This is a large central site involving Front Beach Road, Hutchison Boulevard, Clara Avenue and nearby streets. It could affect traffic, housing supply and nearby property demand. It is still important not to jump ahead of the public record. A planning request does not prove that vertical construction has started or that the final project will match an early plan.
Official sources: June 10, 2026 Planning Board agenda and July 8, 2026 Planning Board agenda.
What I Would Watch as a Buyer or Owner
The west side around Highway 79, Ward Creek and West Bay continues to add full-time housing, healthcare and everyday shopping. Pier Park remains the stronger entertainment and vacation-rental corridor. Central Panama City Beach has more planning activity around Shipwreck Island and the 12610 Front Beach Road site. The east side is dealing with the longer U.S. 98 construction timeline toward Hathaway Bridge.
Those projects can help an area, but they can also bring traffic, construction noise and new competition. Before buying, I would check:
- Whether the nearby project is open, under construction, approved or only proposed
- Traffic and property access during a weekday and a busy weekend
- HOA or COA fees, reserves, insurance and possible assessments
- Short-term rental rules and any minimum-stay restrictions
- Actual rental history after management, cleaning, repairs, taxes and utilities
- How much new housing or rental competition is coming nearby
- Whether a builder is still offering incentives that could compete with a future resale
Development can be part of the reason to buy, but it should not be the only reason. Current comparable sales, the condition of the property, insurance, HOA health, parking, beach access and rental rules usually matter more than a project that may open several years from now.
Review my Panama City Beach buyer FAQ or explore Panama City Beach investment condos for sale.
Frequently Asked Questions
What is the newest development proposal in Panama City Beach?
The newest public request in this update is Shipwreck Island’s proposed 50-foot slide complex. It is scheduled for the August 12, 2026 Planning Board meeting and had not been approved as of August 2.
When will the U.S. 98 widening be finished?
There is not one completion date. FDOT currently projects late 2027 for the work from Mandy Lane to Richard Jackson Boulevard ```
