Hyde Park Village’s Prime Corner: Luxe Retail or Chic Restaurant to Replace Goody Goody?

Goody Goody’s departure from Hyde Park Village leaves behind one of the most sought-after retail properties in Florida — a prime location that’s unlikely to remain vacant for long.

Goody Goody’s parent company, 1905 Family of Restaurants, announced on Monday that the beloved restaurant will close its doors on Sept. 29. Known for its iconic burgers and classic diner-style breakfasts, Goody Goody is a Tampa staple that 1905 President Richard Gonzmart revived in 2014. The restaurant first opened in Hyde Park Village in 2016, and its departure marks the end of an era.

Commercial real estate experts are confident that Goody Goody’s highly visible corner at West Swann and South Dakota avenues, surrounded by some of the wealthiest households in the Tampa Bay area, will have no trouble attracting new tenants. A different restaurant is a likely candidate for the space, but there’s a wide range of possibilities.

In recent years, luxury retail has been a key focus for WS Development, the Boston-based owner of Hyde Park Village, and the corner’s prime location could easily draw an international luxury brand. Additionally, Goody Goody’s exit could spark a redevelopment opportunity for WS Development, especially if they can negotiate exits with other tenants on the block, such as CineBistro. Some real estate insiders speculate that the area might become a hotspot for a midrise, mixed-use development.

WS Development, which has owned Hyde Park Village for more than a decade, has brought in several luxury brands in recent years. Most recently, Stoney Clover Lane opened its doors, joining other high-end fashion boutiques that were announced in 2023, including one in the former Wine Exchange space, a beloved local restaurant.

Despite rumors, Gonzmart emphasized that Goody Goody was not being forced out to make room for a luxury brand, praising WS Development as a “champion” of the Goody Goody brand.

“WS Development worked closely with us, exploring multiple creative solutions to remain, but as this chapter ends, we’re looking forward to new opportunities and a bright future,” Gonzmart shared in a statement.

Even with Tampa Bay’s booming population growth, several luxury brands have yet to establish a physical presence in the area, including big names like Cartier, Hermès, and Bottega Veneta. Real estate observers believe WS Development is targeting such brands, and some speculate that Goody Goody’s location could be the perfect spot for an upscale retailer.

Brands like Louis Vuitton, Tiffany and Co., and Saint Laurent already have a presence in Tampa, but they could be drawn to Hyde Park’s urban retail village environment instead of traditional mall settings. Ballard Designs made a similar move, relocating from International Plaza to Midtown Tampa.

Willow Ferrelli, managing partner and broker at ACRE Commercial Real Estate, believes the space could remain a restaurant and attract multiple offers from both local and out-of-market restaurateurs.

“Tampa has some of the highest incomes in the state, and we have a growing base of billionaires and international tourists who can support super luxe retail,” Ferrelli explained.

Melissa Riccardi, vice president at Colliers in Tampa, echoed the sentiment, noting the space’s appeal to both restaurateurs and luxury retailers.

“Given the investment in the food and beverage infrastructure, it makes sense to keep a restaurant in the space. But it’s also a prime location, and with WS Development’s efforts to elevate the tenant mix, it could be a perfect flagship store for a luxury brand,” Riccardi noted.

In a statement, WS Development President Samantha David expressed gratitude for Goody Goody’s time at Hyde Park Village and underscored their continued support for the Gonzmart family.

“Goody Goody has been an incredible partner for us over the last eight years,” David shared. “We often reflect on the unique atmosphere they created from day one, and we had hoped it would continue for many more years. While we are heartbroken to see such an iconic spot close, we fully support the Gonzmart family’s decision and look forward to cheering them on from afar.”

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