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Developer previews $130 million waterfront plan; council asks staff to craft incentives policy
Summary
Developer Ryan Burke presented mixed-use waterfront plans for two properties with roughly $130M in private investment and a financing gap he estimated at about $4.5M. Council directed staff to draft an incentives policy template and to work with legal and CRA staff while weighing taxpayer protections.
Developer Ryan Burke told the Port Richey City Council on Nov. 12 that his team expects to invest roughly $52 million on a 19th Street property and about $78 million on an adjacent waterfront parcel to create mixed-use housing, restaurants and retail. "Our plan is 2027. We have people living in it," Burke said, outlining a phased approach that would stage construction so contractors and pilings move efficiently between sites.
Burke said the team completed required environmental checks, including a gopher tortoise and an asbestos study, and reported neither issue was found. He also said the project is pursuing HUD financing; per his description,…
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