Its charming open-air streets and slew of high end restaurants and boutiques made it the shopping destination in the entire Tampa Bay region. But when International Plaza opened in 2001, it took many of Hyde Park’s long-standing tenants with it. The village struggled for years as new owners came and went without investing much in it.Then a Boston real estate firm, WS Development, purchased the village in 2013 for $45 million with big plans to bring it back to its former glory.
So far, the experiment appears to be paying off.In an age where many chain retailers and traditional shopping malls are struggling to stay open, Hyde Park Village is described by analysts and brokers today as a bright spot in the industry. It was a shining example of a center that is “doing it right” at the recent International Council of Shopping Centers Recon convention in Las Vegas, the largest annual confab for the commercial real estate and retail industries.