MARKET STUDY SHOWS THE BENEFITS OF THE WEST MAIN MASTER PLAN PROJECT
Renderings courtesy of Speck & Associates and DPZ CoDesign
by Emily Echevarria Downtown Pensacola’s growth over the last decade has brought the core of the city to life with eateries, retail and the bustling activity during regular events like the year round Palafox Market, monthly Gallery Nights and festive holiday celebrations that close out the year. New residential offerings from the Southtowne apartment development have been a recent boon to the area. However, the 258 units still only partially meet the demonstrably high demand for housing options near downtown. Just west of the vibrant downtown is an area ripe for development, and that area is currently poised for a similarly explosive growth in what is called the West Main Master Plan project. The parcels of land under discussion in the West Main Master Plan include the 18.54 acres formerly owned by ECUA; several unused parcels of land on the publicly-owned Community Maritime Park property, which include the current Maritime Park parking area and adjacent green space; and lastly, the smaller parcels adjacent to the stadium and along the waterfront. This plan has been developed with the guidance of several former CiviCon event speakers in mind – especially, the idea that sustained growth requires long-term planning and buyin from the City, the public and investors. Studer Properties, owned by local entrepreneur and
philanthropist Quint Studer, signed an 18-month lease to complete research and create the master plan, which is meant to link the waterfront Maritime Park to the former ECUA property across Main Street. The plan includes residential amenities, retail and restaurant space, as well as greater pedestrian access and connectivity to and along the waterfront. The apartments would follow the lead of Southtowne by utilizing mixeduse retail and restaurant space Mary’s Square is an existing small park in the Maritime Parcel on the first floor with residential accomplish the goals of of keeping well as Here, general market that currently suffers from a lack firm activeasedges. apartments above, and a flanked byand our buildings, talent?” the open strength also listed as tworetaining 5 to 6-story space were is actiparking deck in the middle for the vated by 2-story galleries holding shops and positives restaurants. Theproject’s hidden from immediate view by The forprovide the market potential. challenges for residential unitsevaluation above can loggias and terracesThe to take the liner buildings. advantagepotential of waterfront views. for the West Main the project included the still development included analysis emerging downtown residential A market research study was of local demographic and market and the need for site completed in February and economic trends, interviews remediation of the larger March 2019 by real estate with stakeholders and business northern property. There are advisory services firm regarding owners, extensive housing several recommendations the challenges and positive market research, and even for changes in zoning for potential on development research into the potential the area, including changing projects in the parcels on the for an aquarium that could the definition of height Maritime Park campus and the be developed on the site or requirements from 60 feet former ECUA property. elsewhere along the waterfront. to six stories. Another The 123-page report is available recommendation increases President of Studer Properties in PDF format online. the percentage of the lot Andrew Rothfeder said that the that can be used for building July Speckstudy & Associates / DPZ CoDesign 2019 research for the creation of the9, 2019 The| ©market is space from 75 percent to 95 plan included market research, overwhelmingly positive. percent, which makes more site visits, public input, as well The study cited that the sense in a suburban context, as revisiting previous plans that success of Southtowne and Rothfeder said. Several smaller have been created for the area. the overflowing demand for adjustments to the zoning downtown housing as a positive are also part of the changes “They take all those inputs and for an apartment development. making their way through they design what is the optimal However, the study noted a the city planning board and project for downtown Pensacola challenge in differentiating city council approval process, for this site,” Rothfeder the new apartment from its which should be complete by said. “For the benefit of the groundbreaking predecessor: the end of February. community, the taxpayers, Southtowne apartments. the residents and the citizens, Positive demographic trends Rothfeder said that getting what kind of project is going to and employment growth the master plan in place nwflbusinessclimate.com | Business Climate | 19
