The stage is set for construction to begin on a 302-unit luxury apartment complex, following the sale of the former Bradenton Herald property at 102 Manatee Ave. W.
The $7.2 million sale of the 9.2-acre site was reported this week by the Manatee County Clerk of Circuit Court’s Office.
The new owner, Washington, D.C.-based CRP NRP Bradenton Owner LLC, also put together plans to build The Allure of Bradenton apartments, first announced in January by the Herald.
“This is the final piece,” Carl Callahan, Bradenton’s economic development director, said Friday of previously reported plans to construct the Allure of Bradenton apartment complex.
The seller was Jupiter-based Bradenton Landco LLC, which bought the property for $3,362,000 in 2014.
Allure of Bradenton “fits into the city’s vision of transforming First Street from an auto-oriented land use traffic sewer to a more livable city street,” Catherine Hartley, planning and community development director, said previously of the project.
The planned apartment complex would include two four-story buildings fronting on Manatee Avenue West and two fronting on Third Avenue West.
The center of the complex would include another four-story residential unit, the clubhouse, pool and a large pond. The tree line along First Street would be preserved.
Groundbreaking for the property, located on one of Bradenton’s busiest intersections, could come as early as this month, with the first building expected to open in fall 2019, and the rest by spring 2020.
“To us, the property is the most visible and best real estate in Bradenton,” Kurt Kehoe, vice president of the NRP Group, previously said.
“We’ve been wanting to develop in Bradenton due to the changing demographics and job growth and this particular property came available in what we feel is the best economic scale that we need for walkability, proximity to Riverwalk and all of the other amenities of downtown Bradenton,” he said.
City officials have enthusiastically greeted plans to develop the former newspaper property, which has sat vacant since 2013.
“This project is an amazing addition to the city’s core and will provide much-needed housing for people who work at the hospital and downtown, or those who just want to live in proximity to all the wonderful destinations and amenities the city has to offer,” Hartley said.
The NRP Group has offices in St. Petersburg and Lake Mary. It also has offices in New York, Massachusetts, Pennsylvania, Ohio, Michigan, Indiana, Virginia, North Carolina, Louisiana, Texas and Arizona.