Redstone will likely partner with other developers on Austin Center redevelopment

Redstone Investments sees potential for a number of commercial uses on the Austin Center site in Westshore, from hotel to retail to multifamily.
Redstone closed on the five-building, 300,000-square-foot office park in early April. The company has said it will first and foremost be a landlord to the existing tenants in the property.

And while Lyle Fogarty, president of Redstone Properties, reiterated that on Tuesday, he also shed some light on the possible future of the office park, which sits on 10 acres.

"We are not a developer of humongous, mixed-use projects on our own," Fogarty said at the Westshore Alliance annual development forum. "We’ll be talking to other groups about working on other components — multifamily, hotel, retail, but that’s all down the road."
The Tampa Bay Business Journal first reported that Redstone was under contract to buy the site in October. Developed by late Tampa civic leader Al Austin, the property is considered to be one of the most prime sites in the city, if not the state, because it features 10 contiguous acres in a densely populated urban area.
"We do think that the site can handle a lot of different uses, and we’ve had a lot of interest since we’ve had it under contract," Fogarty said. "Over the last few months we’ve been working on it, we’ve heard from a lot of people who have a lot of ideas for the site and we love that. We’d love to hear more."

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