Downtown development deal in Largo is dead

The City Commission of Largo has officially killed a proposed mixed-use development project at the 500 and 600 blocks of West Bay Drive, which was set to feature 276 apartments, offices, and retail space. This decision was made on March 4, following months of declining progress and a denial of a crucial amendment that would have slightly reduced the residential component. City staff expressed concerns regarding the developer, Property Markets Group, stating they lacked the financial structure required to proceed. Planning manager Alicia Parinello confirmed that the city would explore alternative development options to meet its strategic objectives. The buyback cost for the 500 block property was noted to be around $200,000.

Mayor Woody Brown mentioned that new developments nearby could enhance the attractiveness of the site for future developers. He also stated that the city is open to considering new proposals from Gary Tave, the local developer involved in the project. The city remains committed to revitalizing the area despite this setback.