Westshore Development News

[Jasonhouse]

Now that's interesting...

[FloridaFuture]

Originally Posted by smiley

Actually, if I am not mistaken, they have already started work on some structure

Which project you referring to smiley? It'd be news to me if it was the 5 building x 15 story project. Especially since it I couldn't find any info on the web for it this morning when I looked.

[FloridaFuture]

Also, today I saw that the sites for Cornerstone Plaza and Corporate Center 4 both fenced and tarped off with the majority of the sites clear.

[HARTride 2012]

Speaking of the Dale Mabry Days Inn/Bennagans property, anyone know what's going to happen to the old Circuit City building?

[Jasonhouse]

^It was part of this plan. No idea now...

[HARTride 2012]

^
Okay...

I know this is a bit off topic, but I tried to ask this on another thread and it remained unanswered. Anyone know why Toys R' Us fled Walter's Crossing? I knew it was quite popular for several years after it first opened. But I guess with Target and all, it might have lost steam and chose not to renew it's lease. At least that's my only assumption.

[smiley]

Avion Park or whatever it is called down across the street from the airport.

[Jasonhouse]

Toys'R Us is reorganizing under bankruptcy protection isn't it? Or maybe it shuttered stores to stave off bankruptcy?

[HARTride 2012]

Originally Posted by Jasonhouse

Toys'R Us is reorganizing under bankruptcy protection isn't it? Or maybe it shuttered stores to stave off bankruptcy?

Dang! I didn't know Toys R' Us was doing that bad. I guess they have lost steam to their competitors. That or there's a lot of mismanagement and nonsense spending going around the company.

[randommichael]

Yes Toys R Us closed a lot of stores due to restructuring. Toys R Us is actually another casualty of Wal-Mart who is now the top toy seller in the US.

[HARTride 2012]

Just as I suspected...

[randommichael]

Just another reason I hate Wal-Mart. Other companies just can't compete, and in the long run, that's a bad thing.

[HARTride 2012]

Originally Posted by randommichael

Just another reason I hate Wal-Mart. Other companies just can't compete, and in the long run, that's a bad thing.

Overall, I don't care for Wal-Mart too much either. Its not a really bad store overall. But there are some things I just don't like about them. I perfer Target over anything else really. For grocery shopping, I like Sweetbay.

[randommichael]

Sweetbay doesn't excite me. I'd much rather go to Publix.

[HARTride 2012]

Getting back on track...I like the idea of Corporate Center Four for Int'l Plaza. I remember seeing center one go up and I didn't even know at first what it was. I actually thought during the first few months of construction that center one was the mall itself.

Anyways, the construction brings a positive sign to WestShore. I love the office expansion and I also favor WestShore Mall's proposed expansion.

[Jasonhouse]

Originally Posted by randommichael

Just another reason I hate Wal-Mart. Other companies just can't compete, and in the long run, that's a bad thing.

The thing is, WM doesn't really compete either. They game the system.


Oh, and I wouldn't shop at Sweet Bay if the food was 1/2 price... They are owned by a foriegn corporation now. At least Publix is locally HQed and is employee owned. When you spend money there, it helps the local economy. When you shop at Sweet Bay, you prop up the stock portfolio of some billionaire in Denmark.

[jonknee]

^unfortunately in this area (CBD/Hyde Park) the Publix is so small that you have to go somewhere else to get a lot of items. I switch between the Bayshore Publix, Hyde Park Sweetbay and various smaller indie places (Allesi, Whaley's, etc).

[HARTride 2012]

Originally Posted by Jasonhouse

The thing is, WM doesn't really compete either. They game the system.


Oh, and I wouldn't shop at Sweet Bay if the food was 1/2 price... They are owned by a foriegn corporation now. At least Publix is locally HQed and is employee owned. When you spend money there, it helps the local economy. When you shop at Sweet Bay, you prop up the stock portfolio of some billionaire in Denmark.

Actually Jason, Sweetbay has been owned by Delhaize Group for quite sometime now. Well, back before the Sweetbay concept even rolled out, Kash n Karrys, as well as Food Lion, were (and still are) owned by Delhaize, which is based out of Belgium. Delhaize acquired Kash n Karry sometime in the 90s.

Nevertheless, I shop at Sweetbay. Basically, I shop at whatever store has the best prices. But I perfer Sweetbay and Albertsons over Publix. However, when it comes to custom cakes, Publix is excellent at that.

[randommichael]

I agree with Jason, I'd rather support the local company.

Wright's has great cakes too.

[FloridaFuture]

Originally Posted by smiley

Actually, if I am not mistaken, they have already started work on some structure

I couldn't find an article confirming gorundbreaking for Avion Park but this article from April made it sound imminent. It also gives some nice stats on the project.
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After delays keep project grounded, Avion Park development awakens
Hotel flags determined, financing in place, owner says
Tampa Bay Business Journal - April 20, 2007
by Larry HalsteadWeb Editor/Staff Writer

TAMPA -- It should be nearing completion by now. But after being bogged down in delays for nearly two years, the $150 million Avion Park has flags for its hotels and is now ready to break ground.

The office/hotel/retail complex is scheduled to open in the fall of 2008. It will include three hotels, four restaurants, two office towers and retail space -- all planned on just 19 acres.


The first hotel scheduled to break ground will be a 120-room Townplace Suites by Marriott (NYSE: MAR). Work should start within 60 days, as long as that location's site work is complete.

A 160-room Hilton Garden Inn is scheduled to break ground within four months, and a 145-room Homewood Suites should begin building in September, said John McKibbon, CEO at McKibbon Hotel Management Inc., based in Tampa. It is developing the property, across the street from Tampa International Airport on the southwest corner of Spruce and O'Brien streets.

The project was originally announced in August 2005 but was delayed by internal issues, McKibbon said. He declined to elaborate on the nature of the delays.

When certain deadlines were missed initially, McKibbon said he decided to put the project on hold for a few months, trying to time the completion of the hotels to enable them to open "in season."

He didn't blame the delays on either the city or the Federal Aviation Administration and said both groups were "great to work with."

The FAA was involved because of the height concerns on the approach to the east side runway. But because the complex is actually between the two major runways at TIA, the restrictions were not as strict.

There are no impacts with any of the proposed buildings, said an airport executive who couldn't be quoted by name.

The tallest structure in the plan is a 300,000-square-foot office tower, planned for 148 feet. That building will be developed owned and managed by Highwoods Properties (NYSE: HIW).

McKibbon Hotel Management sold the footprint for the building to Highwoods. A call to Highwoods seeking details about the sale status and its price weren't returned before deadline.

Putting the project on hold threw a monkey wrench into the marketing efforts. Although McKibbon has secured flags for the three hotels, no marketing has started on any aspect of the project, he said.

MOVING DIRT
Site work on the property is set to start immediately, McKibbon said. Work on the hotels will be concurrent at times with the site work, moving dirt to create the pad for each hotel.

Financing is in place the entire project, McKibbon said. The hotels will be financed by SunTrust Bank (NYSE: STI) and Regent Bank, McKibbon said. But he wouldn't disclose any details about financing of the rest of the project.

There is plenty of money available for financing and the hospitality market is viable, especially in the Westshore District, said Dennis Reed, regional VP for the Plasencia Group, investment advisers for the hospitality industry.

"McKibbon is well known as a good operator," he said.

None of the four restaurant sites are committed yet, due to the delay in beginning the project. McKibbon did talk to Morton's Steak House in Chicago about locating here, but everything at this point is speculation only, he said.

One of the office towers, a 10-story office condo project, will have individual units for sale. Each floor will be 13,000 square feet, and the office condos can be configured for anything between 7,000 and 13,000 square feet. No prices have been determined yet for the condos.

One benefit of the delays is that, now with construction demand soft, the prices for materials have come down from their peak in early 2006. That should help soften the cost of building the entire project, its owner said.

The final part of the project, the retail center, will begin with 18,000 square feet developed. No anchor tenant has been identified yet.

Meanwhile, the FAA has cleared land immediately to the east of the Avion Park project for safety measures. That parcel is in the glide path for incoming aircraft to TIA and will remain undeveloped.

lhalstead@bizjournals.com | 813.342.2467


http://www.bizjournals.com/tampabay/...11.html?page=2

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