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CRA accepts Sankofas termination of Glenwood Town Center development agreement
Summary
The Panama City CRA board voted 5-0 to accept the Sankofa Groups termination of its Glenwood Town Center development agreement after engineering reviews revealed stormwater constraints tied to FDOT requirements, and directed staff on next steps for the parcels.
The Panama City Community Redevelopment Agency on Aug. 4 accepted a written termination from the Sankofa Group for the Glenwood Town Center development agreement.
Staff told the board the agreement, signed July 29, 2025, covered a mixed-use project at MLK Boulevard and 15th Street that included a community grocery store and residential units. Additional engineering during the developers due-diligence period identified significant stormwater constraints related to Florida Department of Transportation requirements; Sankofa submitted a termination notice dated July 14, 2026, that released both parties from further obligations, staff said. "I reluctantly move to accept this letter of termination," a board member said during a motion to accept the termination; the motion passed 5-0.
Board members said the community has sought a grocery store in that area for more than two decades but agreed the stormwater issues made the current proposal infeasible. One member noted the planning department is working on an ordinance to address stormwater needs and that other groups have expressed interest in the parcels for housing and retail. The board accepted the termination and asked staff for direction on future redevelopment efforts for the property.
