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MELIA BOWIEThe proposed $50-million mixed-use project will capitalize on renewal efforts as well, the St. Petersburg man says.
NEW PORT RICHEY - The St. Petersburg developer proposing a $50-million mixed-use project east of the Pithlachascotee River said his development will capitalize on some of the city's renewal efforts and meet some of its needs.
Among preliminary details are plans for 160 condos, 30,000 to 40,000 square feet of retail/office space plus a parking garage that the proposed building would wrap around to shield its view from the street.
"About 600 people would live and work there," Grady Pridgen told the Times on Friday.
Although not as high density as other projects he is developing in St. Petersburg, the project in New Port Richey "is similar to ones that I'm getting ready to tee up in several other areas," he said of the mixed-use plan, adding "the live and work environment is very needed and wanted."
Restaurants, beyond Only the Best - which Pridgen bought from owner Tish Green this month for about $650,000 - would be included.
Most of the land acquisition has been done, he said. Pridgen closed this year on property that now holds Spoonbill's Bait and Boats.
In addition, "we have contracted to purchase the property immediately to the east of the bait shop. That's a law office with some land," he said.
The 1.2-acre area is owned by the Altman family and is the site of a law practice run by James Altman and his children. James Altman is the father of County Commissioner Peter Altman, who Pridgen said first talked to him about coming to New Port Richey.
"Peter will be involved in the project in some capacity," Pridgen said, but added the two men have not worked out whether the commissioner and former city mayor will have a financial stake.
Peter Altman is a partner with Gainesville developer Ken and Linda McGurn in building a more than $14-million mixed-use project proposed west of the Pithlachascotee. Altman is leasing Only the Best from Pridgen and operating the restaurant with his stepdaughter as manager.
Pridgen said part of what drew him to New Port Richey is the city's Main Street.
"Pinellas has 26 cities," he said. New Port Richey offers a unique thoroughfare and feel that city leaders are reinvesting in.
Talks with city leaders have yet to be set up - something the developer said he wants to remedy as soon as he firms up a detailed proposal.
"Once we've determined what we feel will work . . . we'll schedule some time with city officials," he said.
- 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