$35 Million Dollar Development for Downtown Pensacola is One Step Closer to Becoming Reality

PENSACOLA, Fla. (WKRG) — The 2.2 acre lot is empty, at the corner of South 9th Avenue and East Romana Street, but now there might be a condo building worth 35 million dollars.

One company wants to turn the empty lot, into this condo building.

The mark ups convinced a committee to hand off the coveted property’s bid to the Montgomery realtor firm.

The condos bringing not just living space, but a place for further economic growth.

“We’ll have two restaurants there and a retail store there probably,” says broker Robert Montgomery.

The three-story building will offer luxury housing to families of all sizes, its selling point? Location, location, location.

“Everybody wants to be downtown, fortunately in this area, we have a lot of children and retired people who live here, and everyone in between,” says Montgomery.

But before construction can begin, the sale has to be finalized. The city will go over Montgomery’s final renderings one more time on September 11th to hammer out the details.

“As soon as the city can approve the sale, we’ll start getting into more details of the sale and engineering and that sort of thing,” says Montgomery.

Just if you’re wondering how much one of these little slices of downtown Pensacola will cost you.

“The price range is going to depend on the size of the condo, as I said in our initial offering I said 600-thousand dollars and up, and it might be lower than that, if we get some smaller ones.”

For some, the condos will mean the perfect place to live, work, and play, and for Downtown Pensacola, that only means one thing, growth.

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