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Brownfield Success Stories
Florida's Newest IKEA Store
Originally developed and operated as a cannery from 1936 until 1981, the site of Florida’s newest IKEA store had been characterized by local media as a “gritty industrial site between the Port of Tampa and Ybor City”.

Panattoni Development purchased the property in 2005 and entered the Florida Brownfields Redevelopment Program in 2007. IKEA purchased the property in 2008 from Panattoni after most of the environmental remedial work was complete and opened the store in May 2009.

The environmental issues associated with the property were managed by removal of underground storage tanks, railroad tracks and contaminated soil and the use of engineering and institutional controls. The redeveloped 29-acre site now contains a 353,000 square foot store, a 350 seat restaurant, and approximately 1,700 parking spaces. With the opening of the IKEA store, a destination shopping location has been created immediately adjacent to historic Ybor City and within the Adamo corridor, which stretches between the Tampa suburb of Brandon and downtown Tampa.

The IKEA project created 500 construction jobs and 300 new, in-store jobs. When the store opened, the Tampa area had been particularly hard hit by the effects of the economic downturn and jobs were being lost. The opening of IKEA and the number of jobs being created was widely anticipated and reported from the time that store was announced until several months after the opening. The presence of the IKEA store is expected to be a catalyst for additional redevelopment in the area.

Manufacturing Facility to Luxury Apartments

The former aluminum can manufacturing plant, located north of Busch Gardens operated for 36 years then sat unused for six years, after which, Circle Tampa Ventures entered the brownfields program and completed voluntary cleanup of the property.

Cleanup included removal of 443 tons of contaminated soil and implementation of a restrictive covenant on the use of groundwater.

The new development features upscale three story townhome apartments, with 360 apartments and 84 townhomes.
  • 2004 - the property sold for $3.2M (taxes were $63,000)
  • 2007 - after cleanup the property sold for $9.2M (taxes were $129,000)
  • 2008 - during project construction, the property taxes are $237,000 and 10 new permanent jobs have been created
  • 2010 - taxes after project completion, the property taxes generate $781,725