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Updated November 2024

This week, shopping center developers displayed some of their projects at the International Council of Shopping Centers' Florida convention in Kissimmee. Overall, the tone of the conference was glum, largely because financing for retail plazas has dried up and the slowdown in Florida's population growth has weakened demand for new retail centers.

However, some developers in the Bay area are trying to line up retail tenants for future projects, even if they are years from being built.

One of the most ambitious developers is Opus South Corp., an Atlanta affiliate of Minnetonka, Minn.-based Opus Corp. Opus South showed off three proposed Bay area projects at the Kissimmee convention.

It's possible that some projects on the drawing board will not be built and others may be drastically changed. Dan Morris, a director of real estate for Opus South, noted that some of its projects are conceptual. Projects displayed at the convention include:

Midtown Tampa Bay. Near West Cypress Street and Dale Mabry Highway in Tampa, Opus South plans a massive 600,000-square-foot retail project at this busy intersection south of Interstate 275. Conceptual drawings show four multistory retail buildings with a seven-story parking garage.

This week, Morris said Opus South is in partnership with the landowner. He didn't name the owner, but Hillsborough County property records show it is The Bromley Cos. of New York. Bromley had been planning a major office development, called Tampa Bay 1, on the site for several years. It wasn't clear this week whether Bromley had canceled plans for its office project. A Bromley representative did not respond to interview requests.

Morris, the Opus South executive, could not be reached Thursday.

Jim Michalak, a retail real estate broker with Tampa-based Plaza Advisors, characterized the Midtown Tampa Bay site, near the junction of two major roads, is an 11 on a scale of 10 in terms of development potential. The only problem could be whether the developer could charge affordable rent to tenants given the high cost of land, impact fees and other expenses, Michalak said.

"You can't get a better location," he said.

Riverview Bell Plaza. This DeBartolo Development project was unveiled three years ago, but new drawings at the Kissimmee convention showed proposed new tenants, including a Sam's Club. Riverview Bell Plaza is at Big Bend Road and U.S. 301 in the Riverview area.

Quenta Vettel, a senior manager of communications for Wal-Mart Stores, said Wal-Mart is planning a Sam's Club on the site, but has no firm timetable for construction. A DeBartolo spokesman did not return calls this week.

Market at Double Branch. Another Opus South project, this would be a 170,000-square-foot "power center" - a mix of big-box stores and a few smaller retailers - on Hillsborough Avenue east of the Pinellas County line. So far, the Kohl's department store chain has signed a "letter of intent" for the site, Morris said. A letter of intent isn't a lease but shows strong interest in a location.

Elizabeth Deluca, a Kohl's public relations coordinator, said the company doesn't comment on prospective sites.

Downtown Brandon. Another Opus South project that, if built, would be a mixed-use development near Brandon Parkway with retail stores, multifamily housing and office buildings. Early plans show a potential fitness center and grocery.

Reporter Michael Sasso can be reached at msasso@tampatrib.com or .