HOLIDAY — Promising new shopping and dining opportunities, Mishorim Gold Properties announced this week that it has purchased the Holiday Mall for $8.56 million, with plans to spend up to another $6 million on improvements for the aging strip center at the corner of U.S. Highway 19 and Moog Road.
The plan is to transform the center, currently anchored by a Winn Dixie, into a shopping and dining destination.
“This is going to be the next up-and-coming community,” developer Mark Gold said in a news release. “There is so much energy and excitement in the area right now for what is to come. I am excited to help the neighborhood and the surrounding areas soar again.”
Holiday Mall includes 130,177 square feet of space, currently housing 18 tenants. Gold purchased the property with a 40 percent vacancy rate and has already filled two of the spaces.
The shopping center is the 22nd property purchased by the partnership and the second property in 11 months. Last year, Gold purchased the Grove at Wesley Chapel for $62.7 million and has since signed on 73 new tenants.
Gold chose Holiday because of its growth, potential, and visibility, according to the news release. More than 140,000 residents live within a 5-mile radius of the shopping complex, with its population projected to jump 5 percent by 2023.
Additionally, Pasco County is investing its own money into the U.S. 19 corridor, where more than 71,000 cars pass by each day. But development has lagged behind, said Pasco County Commissioner Kathryn Starkey, whose district includes the Holiday Mall.
Starkey welcomed the much-needed boost to the area, noting available incentives for those involved in revitalization projects. Several other nearby projects include a renovation for a workforce innovation training center, construction of a new storage facility, a $3-million landscaping project along the U.S. 19 corridor with the Florida Department of Transportation and the Anclote Coastal Trail.
“The redevelopment of the Holiday Mall will be well-received by the residents of West Pasco,” Starkey said. “We value his investment and can’t wait to see the wonderful changes coming to that area.”
Gold is also bringing attention to his other nearby project. The company is spending $110 million to turn the Grove into the community’s “downtown,” complete with a container park, a movie theater, entertainment complex and water park. The container park, a new concept of container buildings, features affordable spaces for businesses. It is set to open later this year with 50 restaurants and retail shops and live entertainment.