Developer buys land for new convention center hotel in Palmetto. Rebuilding trust is next step

The sentiment was lukewarm when developer Anthony DeRusso last month came forward with a new proposal to build a hotel at the Bradenton Area Convention Center, after the original attempt fell apart a year ago.

But just days after Palmetto approved a conceptual plan for a second try, DeRusso’s team closed on a $5.3 million deal to buy 12.5 acres of vacant land adjacent to the convention center that his team was unable to buy the first time.

“Considering the amount of investment, it looks like the city of Palmetto and Manatee County are getting a new hotel,” said Ryan Snyder, an attorney for the property owner.

It was good news that still comes with a healthy dose of skepticism for Bradenton Area Convention and Visitors Bureau Executive Director Elliott Falcione.

“If it closed, that’s promising,” Falcione said. “But we haven’t been able to validate that yet so we’re coordinating a meeting to get around the table with Tony and the city of Palmetto to see where we are at and see where we go.”

The conceptual plan, which is preliminary, calls for an eight-story, 251-room Marriott brand full-service hotel with a rooftop lounge and possibly a second 126-room Key hotel. The plan calls for an additional 7,500 square feet for a restaurant and other retail.

The overall project is expected to cost around $60 million. The proposal will be the subject of coming public hearings.

DeRusso has a year to bring forward a more detailed general development plan for approval.

This story was originally published September 6, 2018 at 2:19 PM with the headline "Developer buys land for new convention center hotel in Palmetto. Rebuilding trust is next step."