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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 terminate the agreement. If construction has not commenced within 24 months of closing, the CRA has a reversion option to repurchase the property at the developer’s purchase price adjusted by the consumer price index.
The board said the agreement includes a performance matrix, timelines for zoning and site-plan approvals and a phased site plan: Phase 1 — grocery store; Phase 2 — townhomes; Phase 3 — apartments. Building permits must be obtained within 24 months of entitlement approval and construction must commence within 90 days of closing.
Board member Michelle Lucas, who led the effort and described the plan as “21 years in the making,” told the board the proposal “checks some major boxes” for Glenwood: a grocery store, affordable housing and community gathering space. Board member Granger said the project was a decision that will shape the city’s built environment for decades and urged the developer to “sprint out of the gate.” Chairman Branch also voted yes; the motion passed unanimously.
Pedro Gasson, representing the Sankofa Group, participated remotely and was available to answer questions during deliberations. The CRA staff presentation noted the developer desires to acquire additional parcels to expand the project footprint and the CRA agreed to help as feasible.
Why it matters: Glenwood residents and community leaders have long sought a full-service grocery and mixed-use redevelopment in the neighborhood. The agreement ties the grocery requirement and income-restricted units to concrete timelines and reversion rights for the CRA if milestones are not met.
Next steps: Staff and the developer will proceed with the inspection period, entitlement and site-plan approvals outlined in the agreement. The CRA retains the right to repurchase if the developer does not commence the project within the contract timelines.
