Pensacola leaders are continuing discussions about a major redevelopment of the Pensacola Bay Center and the surrounding area, with the project potentially costing hundreds of millions of dollars. A study commissioned by the City of Pensacola and funded by the Community Redevelopment Agency (CRA) is helping guide those discussions.
The CRA paid for a study by advisory firm WT Partnership, which evaluated possible redevelopment options for the area behind the Bay Center, currently used as a parking lot. The study looked at potential additions as part of a larger “Bay Center District” concept, including a convention center, indoor sports complex, or ice rink, with survey results showing the convention center as the most supported option.
City leaders say the goal is to create a multipurpose district that attracts more events and private investment, potentially including a hotel and connections to the nearby technology park.
Funding remains a key question. While the study did not assign specific costs to each concept, Mayor D.C. Reeves said the project could require bonding about $75 million in taxpayer funds, along with possible federal transportation-related funding sources.
The CRA will now review the report alongside county commissioners, as the project will require cooperation between the city and Escambia County before any final decisions or timelines are set.