St. Joe is Buying Back Land

Saying it's looking for a "better fit", the St. Joe Company has decided against allowing an outlet mall to become the first tenant at Pier Park.

Four months ago, St. Joe announced that Orlando based Quality Centers would purchase 24 acres of land at the site and build a 200,000 square foot outlet mall. St. Joe has now bought back the 24 acres and is looking for better prospects for Pier Park.

Quality paid $4.1 million for the land. It’s not known what price St. Joe paid to buy it back. The company is quoted as saying it now how plans for a higher scale complex.

When Pier Park is filled, St. Joe plans to have one million square feet of retail space in the parks 130 acres.