Westshore Plaza’s new owner, Third Lake Capital, is moving ahead with plans to remake the 53-acre Tampa mall into a mixed-use district with as many as 1,765 residences, a 240-room hotel, about 900,000 square feet of retail and 500,000 square feet of office and medical space.
Third Lake has filed to rezone the property from Planned Development to Planned Development Alternative, dividing the site into 14 development blocks connected by a new internal street network. That structure would let the company advance individual sections separately, while the existing mall could be demolished in part or entirely as redevelopment reaches those areas.
The filing does not increase the development rights already approved for Westshore Plaza. Instead, it changes how those rights can be distributed across the property, giving Third Lake more flexibility to sequence residential, hotel, office, retail and other commercial uses as individual blocks are designed.
Third Lake Capital’s ownership group acquired Westshore Plaza from Washington Prime Group in July, along with the development rights and approvals tied to the property.
Third Lake Development is working on the redevelopment with St. Petersburg-based Echelon, whose portfolio includes more than 2 million square feet of commercial development and more than 5,000 apartments across 30 multifamily properties. Its Tampa Bay projects include Carillon Park and Echelon City Center in St. Petersburg, where it has developed apartments, offices and other commercial properties.
No timetable has been set for demolition or construction. Each phase would require additional city review before work begins.