PUBLIC PRIVATE PARTNERSHIP – Workforce Housing
The Palmetto Community Redevelopment Agency (CRA) in partnership with ReEnvision Palmetto LLC, will be focused on facilitating the development of both for-rent and for-sale affordable housing units.
This partnership is unique in that, rather than providing direct financial subsidies to reduce costs for affordable and workforce housing, the CRA’s investment is made through the surplus and conveyance of land. All other financing necessary for the development will be the responsibility of ReEnvision Palmetto LLC.
THIS IS A WORTHY EFFORT TO ELIMINATE “SLUM & BLIGHT” AS DEFINED BY F.S. 163 PART III….
As of April 2025, the CRA has officially completed the transfer of the six parcels to ReEnvision Palmetto LLC. The company’s immediate priority will be to secure all financing to begin the process necessary for site development.
This marks a significant milestone for the City of Palmetto, as this partnership brings an unprecedented level of affordable and workforce housing to the community—addressing a critical need in the area. By fostering collaboration between public and private sectors, this initiative sets the stage for sustainable growth and improved housing accessibility. It’s a meaningful step toward strengthening the local economy, supporting families, and enhancing overall community development. Exciting times ahead!
GRAY PROPERTY GROUP – Public Private Parking Partnership – P4!
Gray Property Group has submitted a proposal to develop and revitalize a city-owned property located at 10th Avenue and Riverside Drive West, which is currently used as surface-level public parking. A Purchase and Sale Agreement was approved and executed by City of Palmetto’s Mayor Daniel West at the March 10th Public meeting held at City Hall.
The proposed project envisions transforming the 1.67-acre property, combined with a vacant parcel to the north, into an 8-story mixed-use development. This development would include 75 high-end apartment units featuring amenities such as a pool and fitness center, along with over 30,000 square feet of retail space spanning the first and second floors. Additionally, the project would include essential parking facilities.
As part of a public-private partnership, Gray Property Group proposes to purchase the property from the City and allocate 400 covered parking spaces for retail and public use within the development. Of these, 100 spaces would be specifically designated for city use.
Furthermore, the Palmetto Community Redevelopment Agency (CRA) would provide a Tax Increment Reimbursement Incentive upon the project’s completion.