Politics & Government
City Leaders Look To Finalize Dunedin Gateway Deal
City leaders cast their first vote Thursday on long-awaited plans for a vacant downtown parcel that could set the tone for a new era in architecture in Dunedin.
City leaders cast their first vote Thursday on long-awaited plans for a vacant downtown parcel that could set the tone for a new era in architecture in Dunedin.
"We're looking to tie that up," Bob Ironsmith, economic development director, said Monday.
After six years of setbacks, Pizzuti Companies are ready to lease, with an option to purchase it at its appraisal value, the remaining city-owned, 1.31 acres of the Gateway parcel for $4.7 million over a 25-year period.
Should Pizzuti decide the purchase the land at its appraisal value of $998,000, payments made toward the 25-year lease will be credited to the price.
The proposed $15 million project — a three-story, retail, restaurant and 124 high-end apartment development at Main Street and Milwaukee Boulevard — would bring an estimated $952,000 to city coffers in its first year, according to city documents.
Pizzuti already owns part of the 4.1-acre parcel. The developer purchased it in 2007.
City leaders discuss the deal and cast their first vote on the deal at the July 18 commission meeting, 6:30 p.m., at City Hall. They cast the final vote on Aug. 15.
The plans have already received preliminary approval from the local planning agency, a volunteer review panel for development plans in the city.
City officials are hoping the development with retail and restaurants on the street level and apartments on upper levels will be a catalyst for downtown.
"We're hoping the rest of Main Street goes in this exact same direction," Greg Rice, director of planning and development, told the local planning agency in June.
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