The college offered a limited selection of degree programs, with most classes held in the evening on the campus of Hillsborough High School.

After some initial success, however, it struggled to consistently attract enough patrons to make a profit, The city of Tampa purchased the hotel after Plant's death and kept it open by contracting out daily operations to private companies, but it finally shut down in 1931 due to a significant downturn in tourism with the coming of the Great Depression.

In 1933, the city agreed to allow Tampa Junior College to move its operations to the former hotel grounds rather than let the iconic buildings remain empty.

[13] The university grew slowly over the next few decades, becoming a well-respected institution of learning that predominantly served students from the greater Tampa Bay area.

[16][15] In 1986, local businessman Bruce Samson dropped out of Tampa's mayoral campaign to become UT's president, a position he was offered due in part to his background in banking and finance.

[17] Samson successfully eliminated the school's $1.4 million annual budget deficit through "hardnosed" decisions, including withdrawing from all NCAA Division I sports.

Declining enrollment led to the return of serious budget deficits, leading to serious cuts to faculty positions and academic programs.

UT faced an uncertain future, and some local leaders suggested that the cross-town public University of South Florida should take over operations of the long-time private school.

[18][15] Since becoming financially secure, the school has purchased adjacent land, added new facilities, and extensively modernized older ones; over $575 million in construction has been completed on campus since 1998.

Some of UT's most popular majors include international business, biology, marketing, marine science, criminology, finance, communication, psychology, sport management, entrepreneurship and nursing.

Recent expansions have seen the campus grounds move northward and eastward following purchases of sections of Tampa Preparatory School and vacant lots across the east-side railroad tracks.

Although the university is located in a major metropolitan area, palm trees, stately oaks, rose bushes and azaleas can be found in abundance on campus.

It also is home to the oak tree under which Hernando de Soto supposedly met the chief of the local Native American tribes upon first coming ashore at what is now Tampa.

The campus also includes the former Florida State Fair grounds, where legend has it Babe Ruth hit a home run of 630 feet (190 m), the longest of his career.

The "Anti-Gravity Rock", as it is commonly referred to, is located on the crosswalk between the College of Business parking lot and the Macdonald–Kelce Library, at the very end of the Science wing of Plant Hall.

Straz Hall and Palm Apartments offer apartment-style living, with each student having a private room but sharing a bathroom, kitchen and common area with three others.

Finally, Urso Hall provides students with what is essentially a studio apartment, a private suite consisting of a bed, closet, kitchenette and restroom.

[33] There is also an on-campus aquatic center, the pool has a deep swimming section for scuba classes; it is open to students at limited times.

[35] UT's theater department hosts student produced and acted plays across Kennedy Boulevard in the historic Falk Theatre.

[39] UT athletes are among the top in the SSC in terms of All-American, All-Region, and All-Conference players along with numerous Commissioner's Honor Roll recipients.

[40] The school has recently built dedicated stadiums for baseball, softball, soccer, track, and lacrosse that rival many Division I facilities.

[41] For over 30 years, the Spartans primarily scheduled games against other smaller southern colleges as an independent in the National Association of Intercollegiate Athletics (NAIA) and its forerunners.

In 1967, the school decided to compete at the highest level of college football in NCAA Division I and moved their home field to Tampa Stadium, which had just been completed.

The Spartans produced several NFL stars in this era including John Matuszak and Freddie Solomon while building a sizeable local following.

Other student-run publications include The Minaret newspaper, The Moroccan yearbook, and Splice Journal, which showcases student work in communication, art and culture.