A major development plan is in the works for Tampa's University Mall.

With its glory days seemingly long gone, development and mall officials say with an infusion of new shops, stores and venues, the facility can still have potential.

Surrounded by the University of South Florida, Moffitt Cancer Center, the Haley VA Hospital and neighboring Busch Gardens, the mall can once again draw crowds, according to Mark Sharpe with the Tampa Innovation Alliance.

When it opened in 1974, University Mall was a destination for north Tampa shoppers. But over the years, shoppers left for newer shopping destinations in Brandon, Wesley Chapel and the Westshore area and retailers pulled out.

"This mall was really important," Sharpe said. "It was a big part of the community, and while there are a good number of people who use the mall, it’s not the destination it once was."

Now, more stores are closed than open - creating a ghost town.

However, with new ownership, Sharpe says there are big plans ahead and the idea is to engage the surrounding community through partnerships.

"Now, we’re creating a place, so it’s not just the mall," Sharpe said. "It’s the mall and Busch Gardens, and Moffitt Cancer, and the University of South Florida, and the Veteran’s Administration."

The first phase came earlier this year with the addition of the Studio Movie Grill, a revamped multi-screen theater that features films, along with a sit-down dining experience.

The latest planned additions are for a mix of restaurants, shops and entertainment. The first phase of the improvements will include changes to the western wing of the mall with three new anchor stores and two new restaurants.

Officials said a list of the new retailers will be released at a later date.

"I think it’s important for people to know," Sharpe said. "That the mall is coming back."