Temple Terrace, Florida, works on development agreement for town center

Temple Terrace, Florida, City Council voted in February to work toward a development agreement and partnership of the Vlass Group, MJ Lant Developments, and Marketplace Advisors to create a new urban-style town center, reports the Tampa Tribune. Torti Gallas and Partners created a plan for the center in 2004, but since then two developers, Unicorp and Ram/Pinnacle, “tried but failed to deliver on the city’s vision,” the newspaper reports.

The team, using the joint venture title of Temple Terrace Investments LLC, “is best known for mixed-use projects such as Altamonte Town Center in Altamonte Springs and Atlantic Station in Atlanta.” The project will seek to redevelop “two dilapidated shopping centers in the city’s downtown core, southeast of Bullard Parkway and 56th Street,” according to the article.

“Unlike the other proposals, Temple Terrace Investments’ plan calls for the city to transfer to the master developer ownership of a 19.82-acre parcel to Temple Terrace Developments for the first phase of the project. ...

“In exchange, the developer will build and donate to the city a 30,000-square-foot, $3.6-million community center that could be used for cultural/civic purposes, perhaps to include the city’s library. The city would contribute $1.5 million toward the ownership of the facility and its land.”