NORTH REDINGTON BEACH – After four years of sitting vacant, the site of the former Wine Cellar restaurant will soon be redeveloped into a group of restaurants called Redington Village.
The two-acre site at 17307 Gulf Blvd., was purchased last week for $2.04 million by Redington Village LLC, which is a subsidiary of Tampa-based AG Development Group. Principals in the project are Allen Goins, chief executive officer of AG Development, and Robert Schmidt of Belleair Shore, owner of Schmidt Investments of South Florida.
Goins said the project encompasses four buildings and a total of 16,000 square feet. Plans call for 120 or more parking spaces.
“It’s going to be a village of complimentary restaurants, serving from breakfast to the evening meal, both local and national chains,” Goins said. “It will be cascaded so everybody has frontage (on Gulf Boulevard). It will be a nice, serene type atmosphere.”
Goins did not release the names of the restaurants he expects to move in but noted, “I assure we have sufficient support and documentation.”
An announcement on the identity of the tenants, he said, would come from the tenants. The leases, Goins said, would be a minimum of five years and some as long as 15 years.
“This is a great fit,” said North Redington Beach Mayor Bill Queen. “The future is bright and I’m excited for our town.”
Goins said he expects demolition to begin soon and construction to begin by the fourth quarter of this year. The project is targeted for completion in the third quarter of 2018.
Goins, who has a long history of developments and redevelopments across the United States, said the land acquisition for Redington Village took over three years to accomplish.
He initially was negotiating with Publix Supermarkets to build a store at the site and had a deal with Sweetbay Supermarkets for a store at the location but corporate leaders in Belgium pulled the plug on future development in the U.S. the day he completed the agreement.
“After that, somebody else tried to build a hotel there and then the courts took it in,” Goins said.
He said C-1 Bank got possession of it next before C-1 was purchased by Bank of the Ozarks.
Then, once again, Publix expressed interest in building a 27,000-square-foot store on the site, “but I couldn’t make that work,” said Goins, due to the size of the site and the demographics of the area.
Goins then approached a number of contacts in the restaurants industry and came up with the Redington Village concept, which was backed by Schmidt Investments.
AG Development Group has a long history of successful projects. They include Shamu Stadium at SeaWorld in Orlando, a $60 million expansion of the National Naval Medical Center, Bethesda, Maryland; Marketplace at Birmingham Crossroads, a 150,900-square-foot office and retail complex in Alpharetta, Georgia; Ovation, a 229,079-square-foot project of retail, restaurant, banking and hotel interests across from Reunion Golf Resort in eastern Polk County; and Publix Market Square, a 70,647-square-foot shopping center in Gainesville.
Goins is currently involved with Titus Landing in Titusville, a planned redevelopment of the Miracle City Mall on U.S. 1, which will also use the village concept.