These days, perhaps the only thing less healthy in Florida than retail development is condo development.

So the new managers of the Hyde Park Village shopping area went on record to put a not-too-surprising nail in the coffin of a proposed condo tower project adjacent to Pottery Barn Kids, Restaurant BT and other high-tier shops in the area.

"That's just probably not going to happen any time in the foreseeable future," said Chuck Taylor, senior vice president of leasing at Washington-based Madison Marquette, which has been a partial owner of the shopping district, and will now take over day-to-day management and leasing.

He's not permanently ruling anything out. But for now, Taylor plans to start putting retailers back in the "H" block along the southeast side of the village. In September 2008, retailers in that segment were told to move out, so the project's owners could make way for a potential condo tower.

The village is about one-quarter vacant, but the bulk of that open space is in the "H" block, awaiting a tower. Neighborhood groups and some shop owners had argued against a new, large tower on the site.

This has been a "challenging year at best" in retail, Taylor said. "But we think that Hyde Park is a terrific piece of real estate in one of the best parts of Tampa."

Madison has not yet established any major shift in strategy for the village, Taylor said. Still, he's encouraged to see big tenants such as Cinebistro move in, with its gourmet food/movie combination.
Majority owner of the Hyde Park Village, Vornado Realty Trust, will retain its ownership portion, Taylor said, but hand over day-to-day management and leasing of the site. Unlike Vornado, which tends to develop more big-box retail projects, Madison tends to develop more outdoor, lifestyle shopping villages.

Reporter Richard Mullins can be reached at (813) 259-7919.