Tampa: Hyde Park factory to become lofts

[bobliocatt]

29 March 04

Projects rebranding high-end Hyde Park

TAMPA -- Hyde Park's Wonder Bread factory, closed for about four months, is one of two new projects planned in the area that could significantly change the look of the upscale neighborhood.

The 50,000-square-foot building at 420 S. Dakota Ave, originally built in 1926, is part of a $14-million development that will add approximately 65 residential units to a 3-acre parcel.

Near the factory, Tampa-based LandCraft Development Inc., which paid $3.4 million for the property, also hopes to build 12 townhouses, a 16-unit condominium building and four single-family houses. The bread factory itself will be converted into 33 lofts.

"Keeping the historic aspect is a very important part of the project," said James Landers, co-owner of LandCraft. "It's going to be sort of like a neighborhood unto itself."

The Historic Hyde Park Neighborhood Association last week gave its blessing to the project. Association President Jeanne Holton-Carufel called it a "benefit to the community."

"From what I understand, they plan to restore the factory to the way it looked when it was first built," said Holton-Carufel. "This, along with keeping parking off the streets, should be a welcome new feature to historic Hyde Park."

Landers said the factory originally was called the Seybold Baking Co. The developers plan to brand the entire project utilizing the Seybold lineage.

"We've kind of taken that and are developing a brand," said Landers. "Underneath that moniker, we'll have the Seybold Flats (the condos), Seybold Lofts (the lofts) and Seybold City Homes (the townhomes)."

LandCraft representatives met with Hyde Park homeowners Feb. 17 to discuss the project. The only major concerns involved traffic and parking.

Landers said that traffic problems were worse when the factory was in operation, and now Hyde Park won't have to deal with bread trucks.

"We think that changing the zoning from industrial to residential will decrease, not increase, traffic in the area," said Landers. "No longer will there be huge moving trucks racing in and out of the area."

In addition to lessening industrial traffic, the development also will move much of the resident parking off area streets.

As many as 115 parking spaces might be available for the 65 units, enough to satisfy requirements without needing waivers or variances for the site, said Landers.

The lofts would vary in size, at a minimum of 1,000 square feet, and cost $200,000 to $400,000.

The four-story condominium building would be at the corner of Horatio Street and Oregon Avenue. Units would be from 1,400 to 2,600 square feet and cost about $250,000 to $350,000, Landers said.

The four single-family houses would be located on Dakota Avenue, just south of the factory. They will be two stories each, average 2,500 square feet and cost $500,000 or more, Landers said.

The 12 townhouses on Oregon Avenue would average 1,850 to 2,000 square feet and cost about $300,000.

In addition to the Seybold project, Gaspar Properties Inc. in Tampa submitted plans to the city commission on March 18 for a 24-unit condominium, seven-unit townhome project within blocks of the Seybold.

The seven-story condominium will have 54 parking spaces, with units averaging 2,000 square feet and costing $400,000. The townhomes will be three stories and range in price from $300,000 to $400,000.

The Gaspar property looks similar in design to the Seybold project and would add yet another monument to the area's marketing stamp.

Landers said the two projects, although separate, would add to the diversity of the area.

"We think the projects will complement each other," he said. "We think we have a particular gem that we're going to take advantage of. You have some of the most expensive property in the area surrounded by some of the most modest-looking properties. From a developer's standpoint, property like this doesn't come along very often."

LandCraft plans to break ground on the project in July, with a 10-month build-out. The units will go on the market for pre-sale in June.

[M. Brown]

nice