A developer is planning to build a free-standing Walgreens, a retail building that may house a video store and a bagel shop, and offices for his company at the southwest corner of Main Street and Keene Road.
As part of the deal, Olympia Development Group Inc. of Clearwater will move NationsBank into a building that will be constructed just south of the bank's current location. The bank will move on a weekend, said Doug McGee, senior vice president of Olympia.
Small warehouses on Main Street, just west of the bank, will be torn down to make way for the project. The warehouses sit on about 6 acres that is being annexed into the city. The rest of the property, about 3 acres where the bank sits, already is in the city.
The Walgreens will replace the one across the street in Granada Plaza.
McGee would say only that the value of the entire project is "substantial."
Olympia also is planning to assemble several pieces of property at the southwest corner of Alt. U.S. 19 and Causeway Boulevard and build a free-standing Walgreens to replace the one in the shopping center at the northeast corner.
Several buildings, including a vacant gas station, would be torn down, and a small street would be moved west.
Kevin Campbell, the city's director of community services, said working out deals with multiple property owners is the kind of redevelopment that is needed in areas where vacant land is scarce.
The project at Main Street and Keene Road will help the city because land is being added to the tax rolls and because the property will be used more wisely, he said.
Campbell said the Causeway Boulevard project will eliminate the vacant gas station that has been a safety hazard and eyesore.
Olympia has built free-standing Walgreens stores before, including the ones at Park and Seminole boulevards and at Belleair Road and Missouri Avenue.