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MELIA BOWIEGrady Pridgen's development would include residential space, offices and shops along the Pithlachascotee River in New Port Richey.
NEW PORT RICHEY - For years, the east and west shores of New Port Richey's riverfront have been bordered by a hair salon, aging apartments, a flower shop and a popular local deli with a dirt parking lot.
Now developers are looking to replace the sleepy view with Tuscan-themed condos, townhomes, shops, offices, waterfront restaurants and docks.
The price tag for the latest proposed project in New Port Richey's redevelopment: $50-million.
That's what St. Petersburg developer Grady Pridgen, the force behind some of Pinellas County's most prominent business parks, envisions. On Thursday, Pridgen's staff outlined preliminary plans for a $50-million mixed-use project along the Pithlachascotee River.
"It will have some offices, some shopping and a wonderful environment for living space," said Honey Rand, a spokeswoman for Pridgen.
The development would complement Main Street Landing - the more than $14-million mixed-use project on the west side of the river spearheaded by Gainesville developers Ken and Linda McGurn. The couple is partnered with Pasco County Commissioner Peter Altman, who first proposed Main Street Landing and is involved in building the venture.
"Grady's very hopeful this will be the spark to reignite redevelopment in New Port Richey," Rand said.
Pridgen's completed residential projects include Cypress Park in Tarpon Springs as well as Portofino at Venetian Bay in St. Petersburg. His commercial portfolio includes Gateway Business Park, home to Jabil Circuit Inc., and Gateway Business Centre in St. Petersburg.
He now is in the midst of developing an office and residential project of more than 2.7-million square feet on a sod farm next to the Pinellas County landfill. Pridgen also bought downtown St. Petersburg's historic YMCA in 2000 to build Bayway Lofts, a 42-story residential tower.
Pridgen's initial foothold into New Port Richey began earlier this year when he purchased a house on Lincoln Avenue that was turned into Spoonbill's Bait and Boats. The shop offers canoe rentals and live bait, as Altman long envisioned in earlier proposals for eco-tourism along the river.
On April 1, Pridgen closed on the purchase of neighboring restaurant Only the Best, which was being sold by its owner Tish Green.
Altman is leasing Only the Best from Pridgen, although he says the two two aren't partners. Altman's stepdaughter is managing the restaurant.
Some improvements will be made to Only the Best, Altman said, although the building will not expand beyond its current 6,000 square feet.
However, "we are looking to build a deck to capitalize on the waterfront view," he said.
The restaurant already serves lunch, and a new dinner menu will be added, along with more staff.
Altman wants to offer outdoor dining, which still is rare in the city. That's changing now that City Council members loosened regulations governing it earlier this year. Only the Best also plans to offer special event and meeting rooms to groups of 25 to 100 in varying rooms. The tea room will remain open.
As for the rest of Pridgen's plans, Rand said they're still in the initial stages. But Pridgen does not plan to buy parcels beyond the ones he has acquired and several others he is working on, she said.
"Grady's concerned that he hasn't talked to any elected (city) officials yet," she said, adding their input will be key in forming a final proposal. "He plans to make appointments and visit city officials."
There is no buildout timeline for the project yet.
The goal, Rand said, is to take advantage of the momentum stirred by the city's redevelopment efforts and projects such as Main Street Landing.
"They're complementary," she said of the plans.
- Melia Bowie covers business in Pasco County. She can be reached in west Pasco at 869-6229, or toll-free at 1-800-333-7505, ext. 6229. Her e-mail address is bowie@sptimes.com