A former elementary school site in Palmetto could be redeveloped into a mixed-use project with 178 housing units and commercial space as city officials advance plans to sell the property to a private developer.
The Palmetto City Commission is considering approvals for Riverside Estates, a project proposed by Sutton Place LLC on about 4.25 acres at 702 10th Ave. W. The city owns the property and has entered into a purchase agreement with the developer as part of a broader effort to redevelop underused land near downtown.
That redevelopment would bring 168 apartments, 10 townhomes and 15,000 square feet of retail, restaurant and office space to the site, along with 6,700 square feet of amenity space. Plans call for four- and five-story buildings centered around a pool, clubhouse, fitness center and rooftop deck.
The city’s role extends beyond the sale itself. Palmetto has also entered into a tax increment agreement, a redevelopment incentive that ties future property-tax growth to the project and provides the city with another financial connection to the site.
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The property sits within Palmetto’s Uptown Downtown Design District and the 10th Avenue, or Old Main Street, Design District, where city officials have sought additional private investment. Project documents describe Riverside Estates as workforce housing intended for teachers, healthcare workers, police officers and firefighters, although the application materials do not identify income restrictions for the units.
Before construction can move forward, the property must be rezoned to allow the proposed mix of housing, retail and office space on the site. A companion ordinance would establish the project’s development framework, including the number of housing units and the amount of commercial space that could be built.
Planning staff recommended approval of the rezoning and approval with stipulations for the development plan, finding the proposal consistent with the city’s comprehensive plan and redevelopment goals. A traffic study submitted with the application concluded that the project would not require road improvements beyond the site.
Commissioners are scheduled to consider both ordinances Monday night. If approved, the measures would advance through the city’s review process before returning to the commission for final consideration.
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