First of its kind Publix project could make a difference in Tampa's economic future

Jan 21, 2016, 2:52pm EST Updated Jan 21, 2016, 2:58pm EST

INDUSTRIES & TAGS

Margie ManningFinance EditorTampa Bay Business Journal

Publix Super Markets Inc. has the go-ahead to build a store on the University of South Florida campus.

The Florida Board of Governors approved the project Thursday. It will be the first on-campus location in Florida and the first-of-its kind nationally for Lakeland-based Publix.

Publix Super Markets will build a 29,000-square-foot store on the USF campus in Tampa.… more

PUBLIX SUPERMARKETS INC.

USF's agreement with Publix includes a 21-year ground lease with six five-year term extensions. The 29,000-square-foot store will be at the southeast corner of Fletcher Avenue and North Palm Drive, a press release said.

It will be fully integrated into a $133 million Student Housing Village. The new student housing, supported by the Board of Governors in November, will replace a 1960s student housing complex, and will create a transformative living-learning community. Students' top request was for a grocery store on campus,Judy Genshaft, USF system president, said in the release.

Studies have shown that active on-campus life has a direct impact on improving students' academic performance, and helps them build strong connections with their peers, the USF release said.

In addition, students who feel connected to the Tampa community while they are in school are more likely to remain here after graduation, starting businesses or working for local companies. That's especially key because millennials are more likely to choose where they want to live and then find a job in that location, as opposed to baby boomers who relocated to where a job was.

Publix, the largest company headquartered in Tampa Bay, also will offer part-time employment to students, and hold at least two job fairs per year on the USF campus.

Construction of the student village is expected to begin later this year and construction on the grocery store is expected to be complete by late next year.

USF has entered a public-private partnership for the development of the student housing with Capstone-Harrison Street LLC, a partnership of Capstone Development Partners LLC and Harrison Street Real Estate Capital