Two Tampa hotel and resort developers have formally placed their bids to buy out and own the dwindling Channelside Bay Plaza shopping and dining complex.
If approved by the Tampa politicians as well as financial institutions involved, Liberty Group and Convergent Capital Partners could become the new business duo that runs Channelside Bay Plaza with plans to already renovate set for this fall, according to the Tampa Bay Times.
Details regarding the new ownership deal are still pretty sparse, but both companies have secured the capital needed for the deal and began signing this official paperwork on Friday.
“Channelside fits with our general strategy of acquiring property with great locations, that need significant capital and thoughtful strategy to bring back to life. We're looking to make significant changes there to the sense of arrival for residents, visitors, fans at the Forum, the Florida Aquarium and so on,” said Santosh Govindaraju, portfolio manager for Convergent Capital speaking to the Times.
The deal needs to be approved by the Port of Tampa, one of the official government authorities that ultimately control Channelside.
According to the Times, the next step in this deal involves meetings with a number of groups including Port officials, local residents, the City of Tampa, architects, cruise ship operators and the Department of Homeland Security.
We'll keep you posted as more news arises regarding the future of Channelside Bay Plaza.
