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? Read more…