New York developer buys University Mall near USF, plans redevelopment
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Dec 4, 2014

A New York developer has acquired the beleaguered, bank-owned University Mall on Fowler Avenue.

Richard Birdoff, principal of RD Management LLC, confirmed Thursday that he acquired the entire enclosed mall, with the exception of the anchor boxes. He declined to disclose the price. A deed for the transaction has not yet been filed. He said he is planning to redevelop the site, though it's too soon to disclose many details. He envisions a mix of uses on the site.

"I think it's a great location and it needs some tender loving care," Birdoff said. "And I think we can make it a vibrant place again."

The mall was owned by a lender that foreclosed in 2012, according to Hillsborough County property records. A partnership of Somera Capital Management and Rockwood Capital paid $144 million for the mall in 2007, property records show.

The partners had planned a $10 million renovation of the property in 2008.

Former Hillsborough County Commissioner Mark Sharpe, an outspoken advocate for the area surrounding the mall and the University of South Florida, called the deal an "enormous boon."

"[Birdoff] has been talking with a number of individuals about a completely differently concept that would help pivot the entire university area," Sharpe said.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.