Major renovations could spark new life in Tampa mall

TAMPA -- Months after buying it out of foreclosure, the owners of the long-struggling University Mall, near the main campus of University of South Florida, have unveiled some big plans for the 41-year-old shopping center.

RD Management LLC is sharing the first phase of its major renovation project to the mall, which will transform more than 246,000 square feet of retail space.

The initial focus will be on what was a former store for J.C. Penney Co. RD wants to turn that single store into three, with a large anchor on the first floor and a smaller one on the second, right next to a 37,000-square foot health club. By creating smaller floor plans, it's likely RD can finally attract tenants for the space, which has been vacant for nearly a decade.