NEW TAMPA — Real estate developer Warren Kinsler has been waiting patiently for the Tampa area economy to show signs of recovery.
Now, he is ready to make a move.
Kinsler, the president of New Tampa Inc., is positioning his company to launch a wave of new commercial and residential construction in a partly undeveloped section of Tampa Palms.
In 2004 New Tampa Inc. began development of the Market Square shopping center near the Bruce B. Downs Boulevard and Interstate 75 interchange. Nine years later, Kinsler hopes his company will spark a new building boom of stores, shops and restaurants in the same area southeast of the interstate.
“Adding restaurants is going to be the key issue,” Kinsler said this week. “It would be nice for people to have somewhere to go to eat on that side of Bruce B. Downs.”
Kinsler has designated parcels north of the pond at the entrance to the shopping center at Commerce Palms and Compton drives as ideal for restaurant use. He would like to see three casual dining restaurants there.
Market Square plaza is the commercial centerpiece of Tampa Palms Area 3, a triangle-shaped swath of land sprinkled with big box stores, apartments, single-family residential neighborhoods, and condominium communities that runs east of Bruce B. Downs and north of Compton Park to I-75. It also includes a large undeveloped, wooded area.
The shopping center is home to the area’s first BJ’s Wholesale Club and other big box retailers such as Ross; Bed, Bath & Beyond; PetSmart; Staples; and a nearby Lowe’s. Other storefronts include a Dollar Tree, a nail salon, a CVS Pharmacy and a Regions Bank.
Plans have been on the books for 20 years to build restaurants in Area 3, Kinsler said. New Tampa Inc. officials are renewing their efforts to find potential tenants seeking space for a restaurant, he added.
Company representatives are scheduled to appear before Tampa leaders for a zoning hearing on Oct. 10. They will ask the city for a planned development designation to permit an assisted living facility in addition to stores, restaurants, single-family and multifamily housing communities.
Kinsler envisions adding retail space next to Lowe’s on the Bruce B. Downs corridor and more stores and shops on Cypress Preserve Drive near Chase Bank, he said.
The proposal has received no opposition so far.
On Sept. 11, Kinsler’s development proposal was well-received by members of the Tampa Palms Community Development District Board of Supervisors.
The plan would add more stores and other businesses without increasing the number of access points on Bruce B. Downs Boulevard.
“As a 23-year resident of Tampa Palms who is looking forward to this section of Area 3 being finished, I am very pleased it (commercial development) is being isolated along the Bruce B. Downs corridor, and it does not require any new curb cuts,” said Maggie Wilson, who lives in the Sanctuary subdivision.
Wilson also is a consultant to the Tampa Palms Community Development District.
Kinsler pledged to dedicate a park site to Tampa when a proposed residential area southeast of Market Square shopping center is developed.
“As we develop the vacant land adjacent to the 5-acre park site, the city will be able to create a neighborhood amenity,” Kinsler said.
There is no timetable for that project, he said.