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Panama City CRA approves development deal for Glenwood Town Center with grocery, affordable housing requirements
Summary
The Panama City Community Redevelopment Agency on July 29 approved a development agreement with the Sankofa Group for the Glenwood Town Center at MLK Boulevard and 15th Street, requiring a grocery store and at least 20% of apartment units restricted to households at or below 80% of Bay County area median income.
The Panama City Community Redevelopment Agency voted 3-0 on July 29 to approve a development agreement with the Sankofa Group for the Glenwood Town Center project at the southwest corner of Martin Luther King Boulevard and 15th Street. The agreement requires a grocery store on the site and a minimum of 20% of apartment units restricted to households making no more than 80% of the Bay County area median income.
The deal covers 15 CRA-owned parcels, with a purchase price of $415,000. The CRA will convey property “as is, where is,” and the developer has a 180-day inspection period during which it may…
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