OLDSMAR — Bargain hunters can rejoice.
The Oldsmar Flea Market, a weekend destination for shoppers since 1980, will remain despite the $13.9 million sale of a portion of the property to make way for a 279-unit apartment complex.
Oldsmar Flea Market, located at 180 Race Track Road, announced July 2 that “it will continue operating as usual following the sale of the southern portion of the property to Kolter Multifamily LLC. … The flea market remains open every weekend from 8 a.m. to 3 p.m. and will continue serving the community from the remaining 16-acre portion of the property.”
Additionally, it announced it will “transform” its business by consolidating its operations into its seven modern buildings totaling 140,000 square feet, located directly north of the upcoming mixed-use development community. It will install a new 25,000-square-foot, climate-controlled building to “ensure a comfortable, modern shopping environment year-round, protecting visitors from the Florida heat and rain.”
This new building will be surrounded by current businesses that will remain open, including Everything Birds, Cbus Liquidators, T&D Golf, Wacky Wizard Hardware and Tampa Bay Pickleball, the six-court indoor facility that opened in 2023. According to a new map from Oldsmar Flea Market, there are spaces for additional market space, a book vendor and even dining space.
“Market operations have been consolidated into the existing market area north of Alton Oldsmar, allowing vendors and visitors to continue enjoying one of Tampa Bay’s longest-running weekend destinations,” according to a news release.
Kolter Multifamily, a developer based in Delray Beach, will begin construction on Alton Oldsmar at a date not yet specified. On more than 13 acres of the former flea market, the mixed-use project will include five buildings — four four-story structures with 60 units each and a five-story building with 39 units. It will also feature a pool, clubhouse, fitness center, dog park, pond, pavilion and retail space, with entrance/exit locations on Race Track Road and Tampa Road.
Because the project falls under the Live Local Act, city officials have limited authority over its approval. The act bars local governments from requiring public hearings or council votes for qualifying projects. It mandates administrative approval of residential and mixed-use multifamily developments in which at least 40% of units are affordable, as defined by Florida statutes, for at least 30 years.
City officials in March said staff was reviewing the application to ensure it meets state requirements and local regulations.
Developer Grady Pridgen purchased the Oldsmar Flea Market property in 2018 for $11.35 million and transformed it into a shopping and entertainment venue with more than 800 potential vendor booths selling antiques, produce, collectibles, clothing and more.
But vendors have faced steep rent increases. The Tampa Bay Times reported in late 2023 that some saw rents nearly triple.
Alton Oldsmar is one of several projects under Kolter Multifamily’s Alton brand along the Gulf Coast, including Alton Palmetto, which will feature apartments ranging from 661 to 1,188 square feet.
“This is a submarket where demand is outpacing institutional supply,” Jeff Kruse, managing director at Kolter Multifamily, told Multi-Housing News. “We are able to deliver a highly livable product on an efficient basis, in a location supported by real migration, job access and long-term growth fundamentals.”