Business: Developer to cut ties with snake-bit center [South Florida]
Developer Ken Morin has made millions on other local projects. But he’s lost millions on Walter’s Crossing.
Walter’s Crossing shopping center owns an enviable location at Interstate 275 and Dale Mabry Highway and has strong sales at its anchor stores, Target and the Wild Oats health food emporium.
So why isn’t developer and owner Ken Morin leaping for joy?
For all its success as a model of urban redevelopment — ripping down the former Walter Industries headquarters to build one of Tampa’s popular shopping destinations — the project has turned out to be a geyser of red ink for Morin.