FloridaFuture
July 10th, 2007, 04:03 PM
Channelside Investors Maintain Objections
By TED JACKOVICS, The Tampa Tribune
Published: July 10, 2007
TAMPA - At midnight tonight, about 300 children and adults are expected to descend on Channelside Cinemas and Imax for the sold-out premiere of 'Harry Potter and the Order of the Phoenix.'
The Harry Potter release reflects a family-oriented use of the downtown Tampa entertainment and retail complex that city officials have said they envision as the raison d'etre for Channelside Bay Plaza.
Behind the scenes, however, the principals of four Channelside restaurants continue to raise questions about the complex's future, in particular regarding how the landlord intends to enter into leases with new tenants.
The issue got public airings at May's and June's meetings of the Tampa Port Authority, which owns the Channelside site and leases it to the owner of the complex, Channelside Bay Mall LLC.
That company is controlled by New York investment firm Ashkenazy Acquisition Corp.
Guy Revelle - an investor in Stumps Supper Club, Howl at The Moon, Tinatapas and Splitsville - said at the June 19 port authority meeting that he wanted to know the port's position with regard to Channelside's future and how the landlord, Channelside Bay Mall, has handled leases with tenants that Revelle said might be considered bars or nightclubs.
Revelle fired his latest salvo on the issue in a June 27 letter to Tampa Mayor Pam Iorio, who also serves as a commissioner on the port authority.
'While the landlord certainly pays lip service to the port's demands, its actions are simply not in good faith, and are inconsistent with the city's stated vision' for Channelside, Revelle wrote.
'My partners invested in the city's stated 'vision' for Channelside,' Revelle said. 'If the city is unwilling to see that vision through, we are entitled to understand this before we invest more.'
Neither Revelle nor Jaime Austrich, an attorney for Channelside Bay Mall LLC, could be reached for comment Monday.
Port director Richard Wainio, in a July 3 letter to port authority commissioners, said he understood that Revelle and one of his business partners might make additional comments in the July 17 port authority meeting.
Wainio's letter mentioned concerns Revelle expressed last month with regard to a sublease of space to an establishment called Wet Willie's, which the Savannah, Ga., owner of the chain is expected to open at Channelside within a few months.
Revelle questioned the conditions of the Wet Willie's lease in his June 27 letter.
In turn, Wainio said, the port authority staff is reviewing the Wet Willie's sublease 'to verify that it complies with the terms of the ground lease.'
Port authority spokesman Andrew Fobes said Monday the port's attorney would elaborate on the review today.
Reporter Ted Jackovics can be reached at tjackovics@tampatrib.com or (813) 259-7817.
http://www2.tbo.com/content/2007/jul/10/bz-channelside-investors-maintain-objections/?news-money
By TED JACKOVICS, The Tampa Tribune
Published: July 10, 2007
TAMPA - At midnight tonight, about 300 children and adults are expected to descend on Channelside Cinemas and Imax for the sold-out premiere of 'Harry Potter and the Order of the Phoenix.'
The Harry Potter release reflects a family-oriented use of the downtown Tampa entertainment and retail complex that city officials have said they envision as the raison d'etre for Channelside Bay Plaza.
Behind the scenes, however, the principals of four Channelside restaurants continue to raise questions about the complex's future, in particular regarding how the landlord intends to enter into leases with new tenants.
The issue got public airings at May's and June's meetings of the Tampa Port Authority, which owns the Channelside site and leases it to the owner of the complex, Channelside Bay Mall LLC.
That company is controlled by New York investment firm Ashkenazy Acquisition Corp.
Guy Revelle - an investor in Stumps Supper Club, Howl at The Moon, Tinatapas and Splitsville - said at the June 19 port authority meeting that he wanted to know the port's position with regard to Channelside's future and how the landlord, Channelside Bay Mall, has handled leases with tenants that Revelle said might be considered bars or nightclubs.
Revelle fired his latest salvo on the issue in a June 27 letter to Tampa Mayor Pam Iorio, who also serves as a commissioner on the port authority.
'While the landlord certainly pays lip service to the port's demands, its actions are simply not in good faith, and are inconsistent with the city's stated vision' for Channelside, Revelle wrote.
'My partners invested in the city's stated 'vision' for Channelside,' Revelle said. 'If the city is unwilling to see that vision through, we are entitled to understand this before we invest more.'
Neither Revelle nor Jaime Austrich, an attorney for Channelside Bay Mall LLC, could be reached for comment Monday.
Port director Richard Wainio, in a July 3 letter to port authority commissioners, said he understood that Revelle and one of his business partners might make additional comments in the July 17 port authority meeting.
Wainio's letter mentioned concerns Revelle expressed last month with regard to a sublease of space to an establishment called Wet Willie's, which the Savannah, Ga., owner of the chain is expected to open at Channelside within a few months.
Revelle questioned the conditions of the Wet Willie's lease in his June 27 letter.
In turn, Wainio said, the port authority staff is reviewing the Wet Willie's sublease 'to verify that it complies with the terms of the ground lease.'
Port authority spokesman Andrew Fobes said Monday the port's attorney would elaborate on the review today.
Reporter Ted Jackovics can be reached at tjackovics@tampatrib.com or (813) 259-7817.
http://www2.tbo.com/content/2007/jul/10/bz-channelside-investors-maintain-objections/?news-money