Mall expected to boost economy

A regional mall scheduled to be built in south Hillsborough County over the next 10 years will reshape the area's economy and expand residents' shopping options, county officials say.

Construction of Southshore Commons at Big Bend Road and Interstate 75 is scheduled to get under way next year, according to county records.

The long-rumored project will create 1,600 construction-related jobs during the first three years of development and 3,600 permanent jobs after the mall is completed in 2023.

"This is an economic game-changer for the South Shore community and residents," said Hillsborough County Commissioner Al Higginbotham. "It's the biggest thing to happen to Big Bend Road since they took the bend out of the road."

At 1 million square feet of retail space, Southshore Commons will be equivalent in size to International Plaza, Westfield Citrus Park and other shopping malls in the area. The project also includes 490,000 square feet of office space and a hotel.

The developers of the project are Nationwide Realty Investors and Equity, both of Columbus, Ohio.

"The retail and restaurants will serve as amenities for the office workers, making it more attractive for office tenants," said Tina Guegold, spokeswoman for National Realty. "The office workers then provide a steady daytime use for the retail and restaurants."

Nationwide and Equity chose the South Shore area because it is underserved from a retail and entertainment standpoint, Guegold said. Also appealing were the location at two major thoroughfares and projected residential growth, she said.

The development is good news for an area of the county hit especially hard by the crash in the housing market. Longtime South Hillsborough businessman Mike Peterson said the mall has been "on the books" for several years, but was delayed when the economy tanked.

"I think it would be difficult to decide to open a new venture like that if you didn't believe that the other rooftops you were planning on are coming," Peterson said. "They must believe that we will be adding more families to shop at this location."

County officials are expected to offer $5.5 million toward improvements in Big Bend Road that will increase its capacity to carry traffic from U.S. 301 to the mall. County Administrator Mike Merrill said the county's contribution will pay off by accelerating the road project, creating jobs more quickly.

An improved Big Bend Road will better serve upcoming development. St. Joseph's Hospital is opening a branch on Big Bend Road and Newland Communities plans to start home construction next year at Waterset North, just west of the mall site.

"To accelerate the project, to get critical infrastructure sooner rather than later, is something we saw as a benefit," Merrill said.

Because it's a retail project, Southshore Commons is not eligible for state and county property tax incentives used to lure manufacturing and research businesses to the area. The overall project is expected to have assessed property value of $140 million when completed. The retail portion will generate annual sales of $190 million.

"This is an incredible and exciting thing," Higginbotham said. "And this is not the only project we have in the pipeline for Hillsborough County."