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BayWalk Stores Struggle

News Channel 8 photo by KATY HENNIG

Downtown St. Petersburg's Baywalk complex is struggling to stay open.

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By ROD CHALLENGER

rchallenger@wfla.com

Published: December 10, 2008

Updated: 12/10/2008 08:56 am

ST. PETERSBURG - The BayWalk entertainment complex in St. Petersburg is still open, but there is a question about how long it can survive. Banks holding mortgages on the property began foreclosure action in Pinellas County Circuit Court on Nov. 20.

Some stores have closed and the owner of the Muvico Theaters at BayWalk is considering whether to stay open.

"We're looking at all our options," said Michael Whalen Jr., Muvico president.

He said he is considering whether to close the theaters or file "litigation against the owners" of BayWalk.

The complex of restaurants, bars, shops and theaters opened eight years ago and St. Petersburg officials credit it with revitalizing downtown.

One of the original owners, Fred Bullard Jr., recently took over full ownership. When he was unable to renegotiate bank loans on the property, he stopped making payments, prompting the foreclosure action.

Store owners and the theaters say business at the complex has been declining for a couple of years.

Bruce Rabon, owner of the Hurricane Pass clothing store, which is still open, said he's worried about how long the foreclosure will take. Rabon hopes a new BayWalk owner will revitalize the complex.

"If we can get new ownership sooner rather than later, it's better for us at BayWalk," he said.

He blames unruly crowds of teenagers that gathered at BayWalk in the past for driving away business and blames the city for not doing more to control them.

He and Whalen also said the city has not responded to repeated requests for help.

Kevin Dunn with the St. Petersburg development department said the city has tried to help BayWalk businesses. He said the "the city certainly is firmly committed to BayWalk and has been since from its inception."

Bullard could not be reached for comment.

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