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http://www.tampabay.com/news/localgovernment/as-baywalk-sits-empty-major-tenant-muvico-blasts-complexs-neglect/1112014

ST. PETERSBURG — For months, the operators of BayWalk have weathered criticism about why they aren't filling up downtown's desolate retail complex with the tenants it needs to survive.

Now they are getting blasted by the last remaining anchor tenant, Muvico Theaters, for not maintaining the complex well enough to encourage new tenants or entice customers to

From 2004 to 2009, Muvico's attendance at BayWalk has dropped by more than 50 percent. By comparison, attendance is down by an average of 2 percent at the chain's other eight theaters.

The company that operates BayWalk for owner CW Capital says it plans on spending $1.5 million to renovate the common areas of the complex and $4.5 million on repairs for tenant space. When the City Council approved ceding a public sidewalk to BayWalk in October, the renovations were promised to follow.

But with the one-year anniversary of that controversial vote three months away, the fixes haven't been made. And they won't be done until tenants are signed, said Thomas McGeachy, the managing principal of Cimenelli Real Estate Services of Florida.

Now about 80 percent empty, the complex has drawn so much concern that McGeachy and the owner's leasing agent, Curtis Rorebeck, had to assure council members in April that the project was close to signing major tenants.

But three months later, no new announcements have been made.

Muvico and the other tenants aren't the only ones awaiting BayWalk repairs. In the past year, the city has spent almost $300,000 to improve security and lighting at the promenade leading to BayWalk and the Mid Core garage at First Avenue N that's used by complex patrons.

The city is collecting less money in the Mid Core garage because of BayWalk's drop in attendance. According to the city's audit, there were 500,000 daily users of the garage in 2006. Last year, the number of users dropped by more than half, to 245,000.

According to the International Council of Shopping Centers, downtown St. Petersburg last year offered some of the lowest rental rates in Tampa Bay, a sure sign of low demand.http://www.AmericanWisdom.org