Make us your home page
Instagram

Hyde Park Village in Tampa gets new owner

TAMPA — Hyde Park Village has been sold to a Boston-based retail development company that says it plans to make significant, long-term investments to the open-air shopping center.

WS Development said Monday it bought the retail, dining and office development in the heart of historic Hyde Park for an undisclosed price.

''What we find so appealing is its uniqueness,'' said Louis C. Masiello, the company's vice president of development. "We see a lot of opportunity here and will definitely be very active in improvements and investments in capital once we have spent a fair amount of time investigating.''

The 266,000-square-foot center, which is home to Pottery Barn, Lululemon, CineBistro and other retailers and restaurants, had been for sale since May. Masiello said WS Development was one of multiple bidders and a month ago started negotiating exclusively with the owner, Vornado Realty Trust.

WS Development will take over management of the center from Madison Marquette, a partial owner that had been running the center's leasing and day-to-day operations. Many of the employees will likely stay on with WS, Masiello said.

Naomi Mizell, co-owner of the Color Me Mine pottery shop in the village, said she didn't know what to think of the sale yet but was optimistic about the center's future.

"I'm hoping the company will bring some new shops,'' she said. "We could definitely use more walk-bys.''

Hyde Park Village is WS Development's first property in Florida. The privately owned retail development company has more than 85 properties nationwide totalling more than 20 million square feet of retail space and an additional 4 million under development. Its nearest property is in Jackson, Miss., a shopping center WS redeveloped around a Whole Foods grocery store.

WS plans to spend considerable time researching the center and its surrounding neighborhood before making any changes, Masiello said. And while the company hasn't marketed the village to tenants in its other properties, it expects many retailers will be drawn to Hyde Park's brick streets and parklike setting.

"A fair amount of the retail tenants we work with would never go into an enclosed mall," he said. "There is a tremendous reservoir of merchants who would thrive in a place like Hyde Park.''

The center at Swann and Rome avenues opened in 1985 as one of the first mixed-use projects in the country to revive a decades-old concept of combining stores, offices and housing in a town square setting. It thrived for years but started to lose tenants with the opening of International Plaza in Tampa and competition from other retail centers.

Vornado bought the village in 2005 with plans to expand it and add two mid-rise residential towers, projects that never happened. The center has struggled to attract and retain tenants but recently enjoyed an influx of new shops, most of them small, independent boutiques. The largest and most widely known was West Elm, a home decor store that opened last week in the former Williams-Sonoma spot.

Susan Thurston can be reached at sthurston@tampabay.com, (813) 225-3110 or @susan_thurston on Twitter.

Hyde Park Village in Tampa gets new owner 09/23/13 [Last modified: Tuesday, September 24, 2013 12:33am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Federal agencies demand records from SeaWorld theme park

    Tourism

    ORLANDO — Two federal agencies are reportedly demanding financial records from SeaWorld.

    Killer whales Ikaika and Corky participate in behaviors commonly done in the wild during SeaWorld's Killer Whale educational presentation in this photo from Jan. 9. SeaWorld has been subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary. 
[Nelvin C. Cepeda/San Diego Union-Tribune/TNS]
  2. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  3. Line of moms welcome Once Upon A Child to Carrollwood

    Business

    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  4. Pastries N Chaat brings North India cuisine to North Tampa

    Business

    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.
  5. 'Garbage juice' seen as threat to drinking water in Florida Panhandle county

    Water

    To Waste Management, the nation's largest handler of garbage, the liquid that winds up at the bottom of a landfill is called "leachate," and it can safely be disposed of in a well that's 4,200 feet deep.

    Three samples that were displayed by Jackson County NAACP President Ronstance Pittman at a public meeting on Waste Management's deep well injection proposal. The sample on the left is full of leachate from the Jackson County landfill, the stuff that would be injected into the well. The sample on the right shows leachate after it's been treated at a wastewater treatment plant. The one in the middle is tap water.