The Laker/Lutz News

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Dawn Sutton

Ethan Allen out, Scott Fink moving in?

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In 2001, Scott Fink took a gamble and decided to open a Hyundai dealership in New Port Richey.  At the time, Hyundai did not have the best reputation for dependability, and accounted for about three of 100 every new car sold.

What does local car dealership owner Scott Fink have planned for more than an acre of land next to a proposed Volkswagen dealership? Whatever it is, Fink thinks it’s worth $1 million. (File Photo)
What does local car dealership owner Scott Fink have planned for more than an acre of land next to a proposed Volkswagen dealership? Whatever it is, Fink thinks it’s worth $1 million.
(File Photo)

Since then, Hyundai has become one of the most popular overseas brands in America, and Fink has expanded his car empire to include Hyundai, Mazda and Chevrolet dealerships in Wesley Chapel, and a planned Volkswagen dealership on State Road 56 across from Mini of Wesley Chapel.

So what does Fink have up his sleeve on land next to his proposed dealership? He’s not talking — he didn’t return a call for comment from The Laker/Lutz News — but it’s now a $1 million gamble.

S&D Giant Real Estate LLC, a company, which lists Fink as its sole manager, closed on nearly 1.6 acres of land on State Road 56, just off Silver Maple Parkway on Aug. 26. The price was $1 million, something that might appear like a steep price for vacant land. But it’s a $400,000 discount from what Ethan Allen Retail LLC paid for the property in 2006, according to Pasco County property records.

Ethan Allen, a Connecticut-based furniture chain with locations in Citrus Park and Brandon, had announced in late 2005 it would build an 18,000-square-foot showroom on the site. It was supposed to open in 2006, and compete with the less-expensive Rooms To Go that opened down the road on Bruce B. Downs Boulevard.

However, the housing market crashed, and couches that cost as much as a semester at the University of South Florida simply were no longer in demand.

Unlike the Lowe’s on State Road 54 near Land O’ Lakes Boulevard, Ethan Allen never resurrected its plans to build on the site, despite holding the land for nearly a decade. A spokeswoman for Ethan Allen confirmed to The Laker/Lutz News on Monday that the project was indeed dead.

“I believe that the new use will be automotive,” Ann Zaccaria, vice president of real estate for Ethan Allen, said in an email.

In his annual report filed last June addressing the entire Cypress Creek development of regional impact area that includes this parcel, Skinner Bros. Realty president A.C. “Chip” Skinner III did not mention the pending sale to Fink. He still listed it as a closed sale to Ethan Allen, where 18,000 square feet of retail rights are still planned.

Fink is under contract to buy more than 5 acres of land immediately to the southeast of the parcel, where he plans to build a Volkswagen dealership complete with a nearly 30,000-square-foot showroom.

The lot Fink has closed on still is set for a retail store, but it’s not clear if that’s what he still plans to do, said Dawn Sutton with Pasco County’s planning and development department. No new paperwork for the site has been filed with the county.

“There is an agreement for (the Volkswagen parcels) for up to 46,000 square feet of retail entitlements,” Sutton said. “That’s probably a 22,000-square-foot building plus maybe a car wash, and some supporting retail.”

Land proposed for the Volkswagen dealership has yet to change hands, but if Fink’s purchase of the adjacent land sets a new precedent, then he could spend more than $6 million for the adjacent lot once that deal finally closes.

Published September 24, 2014

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Outlet mall not ready to spring up quite yet

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Site work has begun on the Cypress Creek Town Center site near the intersection of State Road 56 and Wesley Chapel Boulevard. It’s just not for the proposed outlet mall in that area.

Instead, dirt has begun to move across the street from the planned 482,000-square-foot mall, where some outparcel retail stores will eventually be built, said Dawn Sutton with Pasco County’s Planning and Development department.

Some activity on a site where some individual retail stores may be located in the future had some residents thinking the proposed outlet mall work was finally beginning. However, that project — across State Road 56 near Wesley Chapel Boulevard — is wrapping up site plan approvals now. (Michael Hinman/Staff Photo)
Some activity on a site where some individual retail stores may be located in the future had some residents thinking the proposed outlet mall work was finally beginning. However, that project — across State Road 56 near Wesley Chapel Boulevard — is wrapping up site plan approvals now.
(Michael Hinman/Staff Photo)

“There are no site plans for that part of the property just yet,” Sutton said. “Right now, it looks like they are just trying to make it site-ready. It’s not a pad, but more of a central system to get ready for some eventual work there.”

The outlet mall itself, tentatively called Cypress Creek Town Center Premium Outlets Mall, is still going through site plan review, Sutton said. One of the developers involved with Simon Property Group submitted paperwork to the county Sept. 4, all part of the standard back-and-forth between a developer and the county.

If both sides can square away any lingering issues, Simon could start moving its own dirt on the site in 30 days. That means actual construction, once building permits are issued, could get underway before the end of the year.

The mall will almost certainly not hit its originally announced completion date of the end of 2014. In fact, whether the outlet mall will hit the Summer 2015 timeframe county administrator Michele Baker suggested earlier this year is still yet to be seen. Simon did not return an email last week seeking comment.

The entire process for Simon is a little déjà vu, Sutton said.

“The 50 acres that is being planned for the mall sits differently than it did before,” she said. “They have a different layout, and the location is adjusted.”

Simon had originally planned a 1.2 million-square-foot project with 600,000 square feet of retail, and 120,000 square feet of office by 2011. Expanded plans included 350 hotel rooms, 230 apartments, and a 2,582-seat movie theater.

Yet, the east indigo snake and the economy got in the way. The U.S. Army Corps of Engineers delayed final environmental approval for years, with one herpetologist telling officials that the land is necessary to help the snake avoid major roadways.

The Army Corps cleared the way for the mall last November.

“We are very excited to be moving forward on this project, and are commencing meetings with the county to determine approvals and a schedule,” Danielle DeVita, senior vice president for development and acquisition at Simon, said in a statement last year.

Simon still needs to finalize its site layout, which would require approval by Pasco County commissioners. However, Sutton doesn’t anticipate their being any additional controversy with the site.

Some of the land work on the mall site had already been done back in 2007, said Carol Clarke, assistant planning and development administrator for the county.

“There was earth working done there, which was part of what they were initially going to do,” Clarke said. “They have this new plan, but it looks like they are endeavoring to use as much of the existing infrastructure there as they can.”

Simon is joined on the project by JG Cypress Creek LLC and Tampa Premium Outlets LLC, and is expected to be built in seven phases, according to plans submitted last April. The overall project will consist of nine buildings, and nearly 2,400 parking spaces. The complete project is expected to offer 1.1 million square feet of commercial space.

Published September 10, 2014

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