Morin Breaks Ground on $200M Mixed-Use Project Near Tampa

Challenging because the suburban venture opens a new commercial/residential corridor and extends Tampa suburbs to deeper boundaries made possible by the completion of Suncoast Parkway and State Road 54, eight minutes from Citrus Park Mall.

The project, planned for a five-year buildout, will have 1.2 million sf of office; 500,000 sf of commercial/retail; a hotel; and single family/multifamily product. Suncoast Crossings will front State Road 54. Morin is joint venturing the undertaking with Tampa-based Alliant Partners LLC under the MDG Suncoast LLC name. Regions Bank is funding the project.

Todd Taylor Residential Land Development Co. of Tampa plans to break ground in May on 550 single-family homes, sized 1,500 to 5,000 sf, around the 100-acre Ivy Lake. Wood Partners LLC of Durham, NC will be developing two-story and three-story garden-style apartments totaling 588 units.

The Hogan Group of Tampa, a national developer, is handling the planned 1.2 million-sf, class A office park on the southeast corner of Suncoast Parkway and State Road 54.

Morin tells GlobeSt.com the project could exceed the estimated $200 million hard cost. "It could be more than that once we get into it," Morin says.

Morin was a senior vice president at Clearwater, FL-based Sembler Co. before forming his own company. He specialized in turning around distressed properties. Among them were Marketplace Shopping Center, St Petersburg, FL; Pasadena Shopping Center, Pasadena, FL; Melbourne Shopping Center, Melbourne, FL; Bayside Bridge Shopping Center, Clearwater, FL; Brandon Crossings, Brandon, FL; and Woodland Square, Oldsmar, FL.

In nine years at Sembler, Morin oversaw a leasing and sales portfolio comprising six million sf. His team leased 600,000 sf annually with a cumulative transaction value of $1 billion.