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Owners, appraiser and merchants say City Marketplace parcel price, upkeep hinder downtown recovery
Summary
Business owners urged action on the long-vacant City Marketplace parcel and on code enforcement for blighted lots; a commercial appraiser at the workshop said the owner’s $12.4 million asking price is out of step with current market and construction costs, and staff noted prior code cases and new impervious-area requirements.
Downtown merchants pressed the City of Punta Gorda on July 7 to address an empty, privately owned parcel known as the City Marketplace, which residents and business owners blamed for a blighted gateway into downtown.
An attendee who identified himself as Michael, a commercial real-estate appraiser, told the workshop the parcel’s current asking price—$12.4 million—equates to roughly $52 per square foot or more than $2.2 million per acre and is unprecedented in Charlotte County for available waterfront parcels. “There’s never been a sale in the history of…
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