The Community Redevelopment Agency meets at 3:30 p.m. at City Hall. The developers of the proposed condo and apartment development on the former Escambia County School District property at the corner of Spring and Garden Street cannot meet the deadline to commence construction by Dec. 31.
On Feb. 6, 2023, Bearing Point Properties presented proposed plans for the Westmore apartments with 326 units and the Waverly with 54 condominium units. The development would also include a large-scale grocery retail space, two pocket parks, and a multi-level structured parking facility with approximately 175 ungated parking spaces. Estimated investment: $45 million.
The developer requested to partner with the CRA to undertake streetscape improvements along Spring Street from Garden Street to Romana Street to accommodate delivery trucks to the grocery and improve sidewalks.
On May 8, 2023, the Community Redevelopment Agency (CRA) adopted Resolution No. 2023-03 CRA authorizing a Master Redevelopment Agreement (MRA) with the City of Pensacola and the Developer, which provided for a redevelopment incentive of up to $1,482,278 towards the full cost of the streetscape improvements. The MRA requires the Developer to construct the full mixed-use redevelopment project, except for the 54-condominium units to receive the redevelopment incentive.
The Developer is requesting to extend the “Preconstruction Period” and the “Commencement for six months, shifting from Dec. 31 to June 30, 2025.