The Panama City Community Redevelopment Agency on July 29 approved a development agreement with the Sankofa Group to redevelop 15 CRA‑owned parcels at the southwest corner of Martin Luther King Jr. Boulevard and 15th Street into the Glenwood Town Center, including a grocery store and multifamily housing.

The agreement sets a $415,000 purchase price for the 15 parcels and requires a grocery store on site and apartments with at least 20% of units restricted to households at or below 80% of Bay County area median income. The developer has a 180‑day inspection period after signing and a reversion right allows the CRA to repurchase the property if work has not commenced within 24 months of closing. The project is broken into three phases: grocery store, townhomes and apartments.

Board member Lucas, who led negotiations for months, described the approval as long‑sought: "Today's opportunity has been 21 in the making." Staff said the developer desires to acquire additional adjacent parcels and the CRA will assist where possible to expand the project area.

Board members discussed community support shown at a June 5 public workshop and the need for the grocery to offer products affordable to the neighborhood. The board also discussed timing and the developer’s milestones: entitlements and final site plan approvals, building permits to be obtained within 24 months of entitlement approval and construction to commence within 90 days of closing. The board voted 3‑0 to approve the development agreement.

The agreement includes a clause for reimbursement to the developer of reasonable out‑of‑pocket predevelopment costs should the CRA exercise the reversion option. Staff and the developer will continue working on detailed drawings, timelines and property assemblage.