Developer Sankofa Group pitches grocer-led redevelopment for Fifteenth Street and MLK; board directs staff to negotiate

Pedro Gassant, principal of the Sankofa Group LLC, told the Panama City Community Redevelopment Agency on April 15 that his firm is planning a phased redevelopment of the southwest corner of East Fifteenth Street and Martin Luther King Boulevard featuring a roughly 16,000-square-foot neighborhood grocer, about 60 apartment units and about 22 townhomes to support captured retail demand.

The presentation emphasized creating a plaza and pedestrian connections in front of the grocery, a mix of rental and homeownership opportunities, and a phased approach because the parcel is “an irregular shaped parcel” that will require assembling additional lots and addressing site engineering, Gassant said. He estimated a development cost between $30 million and $60 million and a total construction timeline from entitlement through completion of about 24–36 months, contingent on geotechnical, permitting and site-work results.

The board heard questions about financing, timelines and affordability. Board member Lucas said the project has been “of great interest to the community” and stressed avoiding displacement and gentrification; Board member Street pressed on timing and permitting; and other members raised site-configuration and parking concerns. Public commenters urged affordable homeownership, grocery access for the food‑desert area and clarified financing and assessment impacts.

The board discussed possible transaction structures — outright purchase, purchase with reverter provisions, or a public‑private partnership (P3) with performance metrics — and the attorney recommended using a letter of intent or memorandum of understanding to capture parameters and timelines before returning a formal agreement.

After deliberation the board voted to direct staff to work with the Sankofa Group to develop a formal proposal (a nonbinding LOI/MOU) and to return to the board with details including performance metrics, timelines and community engagement steps; members also asked the developer to host community workshops during the proposal stage. The roll call for that direction showed unanimous support from the five voting board members present. Staff noted a Phase 1 Brownfield-related study is already underway for the corner and that staff will explore incentives to attract a grocer.

The developer said he would pursue acquisition of adjacent parcels to improve site configuration and confirmed interest in either a purchase or a P3 structure if performance metrics and protections for the city and community were included.

The board did not approve a binding sale or agreement tonight; the action was a direction to staff to negotiate and return with a formal proposal for subsequent board consideration.