The TAMPA BAY BUSINESS JOURNAL has a story today that will warm your 401 K-ravaged heart:

(New home a sign of Jeter’s retirement and that Minka Kelly is the one?)

Three years after buying waterfront property on Davis Islands in Tampa, New York Yankees shortstop Derek Jeter can see his mansion going up there. More than a dozen workers were busy Wednesday building the 31,000-square-foot house that looked more like a shopping center.

Now why would Jeter build a home that looks like a shopping center? Oh wait, I forgot, the house is in Tampa. Perfect!

The monstrosity will likely cost Jeter tens of millions considering he bought the property alone for $6.3M in 2005. (Of course, that means it’s worth about $275,000 today.) Jeter had two existing houses on the land razed and is raising a two-story roof from scratch.

So what the heck is “Davis Islands”? And in these troubled economic times, is Jeter employing any creative financing in the deal?

Davis Islands is about three miles south of downtown Tampa.

The islands were man-made back in the early 20th century and feature some grand old homes. Looks like a damn cool place to live, especially considering the islands have their own airport and hospital.

Of course, with Jeter plowing into town with his monstrous mansion and litany of glitterati girls not far behind, perhaps some of that subtle charm will change.

It also appears the project is, astonishingly, a straight cash deal, as TBBJ notes Jeter “didn’t obtain a mortgage to build the home.”

Then again, this is a guy who has pulled in upwards of $161M in his playing career, and probably just as much in endorsements.

With 35-year-old Jeter’s career winding down with the Yanks, you wonder what the construction of the home means. With it being in Tampa, the spring training home of the Yankees, that might be an indication that Jeter fully intends to end his career with the Bronx baseball club.

And with a house that size, I’m guessing starting a family may soon be on the agenda. Does that mean that his latest girlfiend, Minka Kelly, is the one?

But wait, why then is he also house-hunting with Kelly in Los Angeles?