The MICRO and the MACRO of Tampa Bay

The MICRO and the MACRO of Tampa Bay

Across the Urban Core, Micro Retail and Residential Projects Are Popping Up. Could the Smaller Square Footage Answer Concerns of Local Affordability?

Micro units, characterized by small-scale spaces typically ranging from 100 to 500 sq feet, have been gaining traction in urban areas for its ability to foster local entrepreneurship and revitalize communities. In Tampa, neighborhoods around the urban core, notably Ybor City, Tampa Heights, Downtown, and North Hyde Park have begun to embrace this trend, with popularity and affordability highlighting its potential.

MICRO: Retail and Residential in Ybor City and Tampa Heights

In Ybor City, the “Merry Little Market” pop-up shop exemplifies micro retail’s impact. Developed by Nimble Retail, this 8×24-foot prefabricated shop hosted Procure, a boutique featuring items from women and minority-owned businesses. The initiative received an Award of Excellence at the 42nd Hillsborough Planning & Design Awards, underscoring its success in activating vacant spaces and supporting local entrepreneurs.

Additionally, the “Miles Ybor” project is underway in Ybor City. This mixed-use development will offer 120 fully furnished micro-units alongside 20,000 square feet of retail and office space, further integrating micro retail into the community.

In Tampa Heights, plans have been filed for a 6.2-acre mixed-use development that includes a new 110,000-square-foot YMCA, office and retail spaces, and residential units. A portion of the retail space is dedicated to small, minority-owned businesses, indicating a commitment to fostering micro retail in the area.

Micro Residential in Downtown and North Hyde Park

In Downtown, the Residences at 701 Whiting Street feature micro apartments: at 8-stories, the building will rise approximately 100 ft, yielding 62,000 sq ft. The 104 studio-sized apartments will range from 400 to 450 sq ft. Completion is near. The interiors will feature robotic technology in its furniture, specifically an “Ori-Cloud Bed” which raises and lowers to maximize interior space.

Across the river in North Hyde Park, at “Niche” micro units also feature robotic furniture. Of the 251 units in the building, 117 will be fewer than 500 sq ft and 60 of those will be “micro” with the robotic furniture. The developer claims this creates an “attainable rent level for young professionals who desire to live alone in a prime location.”

Micro Gives The Young, The Ambitious, and The Defeated a Shot

Micro units, whether residential or commercial, are a true paradox in action. Typically, affordability and location operate at an inverse. Micro accomplishes both at the same time. The city is a place where people see economic opportunity. Unfortunately, the typical larger retail and residential units have priced out the otherwise ambitious young (or old) professional. These Micro units are a true answer to housing and entrepreneurial affordability. I look forward to seeing more bright and ambitious minds have a seat at our table and contribute to our growing urban core.

Hyde Park Village: New Tenants, Closure of Pottery Barn and Goody Goody. More Luxury.

Hyde Park Village in Tampa is undergoing significant transformations, marked by the closure of long-standing tenants and the introduction of new luxury retailers.

Closure of Pottery Barn and Goody Goody

Pottery Barn, a major retailer in Hyde Park Village, will vacate its space at 802 South Village Circle, when its lease ends in April 2025. The store was part of a 25,000-sq-ft building that also housed Pottery Barn Kids and April Cornell.

WS Development, the Boston-based owner of Hyde Park Village, plans to redevelop the block currently occupied by Pottery Barn, Pottery Barn Kids, and Kittenish. The redevelopment aims to align the building’s aesthetic with the neighborhood’s intimate and cohesive character.

Goody Goody Burgers, an iconic Tampa eatery, closed its Hyde Park Village location on September 29, 2024. The decision was influenced by multiple factors, including the challenging economic climate and strategic efforts to strengthen and streamline the company’s core restaurant concepts. The Goody Goody location at Tampa International Airport remains operational and select menu items are available at the Columbia Cafe on the Tampa Riverwalk. It will surely be missed as a casual food spot.

Introduction of New Luxury Tenants

In recent years, Hyde Park Village has attracted several luxury brands:

• Zimmermann: The Australian luxury fashion label opened a 2,000-sq ft store in the summer of 2022, marking its first location on Florida’s west coast.
• Rag & Bone: The American fashion brand opened a 3,191-sq-ft shop, further enhancing the village’s upscale retail offerings.
• Palihouse Hyde Park Village: A European-style boutique hotel featuring 36 oversized guest rooms and an intimate lobby lounge and cocktail bar, opened in the third quarter of 2022, becoming the first hotel in the neighborhood.

These developments reflect WS Development’s strategy to elevate Hyde Park Village’s retail mix by introducing high-end brands and enhancing the overall shopping experience. The planned redevelopment of the Pottery Barn block is expected to attract additional luxury retailers, further transforming the village into a premier shopping destination.

The closures of Pottery Barn and Goody Goody Burgers, while marking the end of an era, pave the way for new opportunities and a refreshed retail landscape in Hyde Park Village. The introduction of luxury tenants aligns with the village’s ongoing transformation into a vibrant, upscale shopping and dining destination.

Making the Connection: Palm Beach X TPA

WS Development owns The Royal Poinsettia, an ultra-lux iconic outdoor Palm Beach shopping mall. It’s 180,000 sq ft of shopping features gardens and palm trees and is designed around two central courtyards featuring the world’s most iconic luxury brands: Cartier, Hermes and the like.

At this mall, WS is making plans for more retail, notably a larger Cartier store at 3,700~ sq ft. Where will Cartier move its smaller store to? A Tampa family has connections to the new development, and Cartier is looking to make a footprint in Tampa – a brand that doesn’t currently have a presence here. With the Goody-Goody closure, Pottery Barn moving out, and the ownership’s interest in high end retail experiences, there’s no doubt Hyde Park Village will see top luxury brands secure leases in these spaces very soon. The lower tier brands will need to find new spaces – will they find tenancy at a traditional mall or will we see them in future phases of Downtown Retail- perhaps Water Street Phase 2…hopefully the latter.