Sale of city-owned Downtown Pensacola lot could pave the way for redevelopment

April 5, 2017

Pulse Gulf Coast:

Pensacola city council members will vote Monday on whether to approve the sale of a city-owned parking lot located at 150 South Baylen Street in downtown Pensacola.

Studer Properties, the development company founded by Pensacola developer Quint Studer, has offered to purchase the 0.4-acre parcel for $510,000. The Baylen Street property is currently managed by the Downtown Improvement Board and provides 59 public parking spaces.

In recent months, the city’s Community Redevelopment Agency has sought to sell off several surplus properties and return them to the tax rolls. In January, officials approved the $900,000 sale of a city-owned commercial building on South Palafox Street.

NAI Halford is the commercial real estate agency tasked by the city with marketing the CRA properties.

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