Palmetto officials pick apartment development for former boat ramp lot
Palmetto officials have selected a developer to build a six-story apartment complex and retail space along the Manatee River.
Palmetto’s plan to sell the property, which had been used for years as unofficial boat ramp parking, sparked backlash from residents, ABC7 previously reported. An online petition created in April 2021 garnered nearly 4,000 signatures opposing development of the property.
In June, the Palmetto Community Redevelopment Agency picked Mosaic Development’s proposal to build the $53 million project. The development could be completed by the end of 2028, officials say.
The proposed project would transform the 3.4-acre site on the corner of Eighth Avenue West and Riverside Drive into a six-story building with 155,652 square feet of apartments, 5,000 square feet of retail space and 5,000 square feet of amenities.
“The building is phenomenal. I really love the building, I love the concept,” Commissioner Scott Whitaker said at the CRA Board’s June 2 meeting.
Amenities will include a deck with a pool and a two-level parking garage for residents and retail customers. The parking garage will be the base of the building and, overall, there will be about 368 parking spaces.
“Grass buffers are installed to provide a comfortable separation for pedestrians and vehicles as well as creating an open ‘plaza’ space on the front of the retail entrance with a grand stairway entry feature to provide an elegant and unique experience to the pedestrian customers,” Mosaic’s presentation said.
Six-story building coming to Manatee River
Mosaic is no stranger to the “urban style vertical living lifestyle” it pitched for this project. The developer’s portfolio includes projects like the recently completed Nine20 Manatee apartment building in downtown Bradenton and similar projects in Sarasota, Tampa and St. Petersburg.
The residential portion of the project will consist of 152 one-and two-bedroom units “to respond to the current marketplace demand of apartment living and help to create a critical mass of residents to support the growing popularity of the City of Palmetto,” the presentation stated.
According to Mosaic’s presentation, the average rent would be $2,177 per month.
The total development cost is projected to be $53,014,447, with the developer receiving $6,361,734 in CRA incentive funding.
Controversial boat ramp parking
All three residents who spoke at the CRA’s June 2 meeting spoke in opposition to the project. One of the common issues is the loss of boat parking space.
Mosaic’s plan includes 22 boat trailer parking spaces on the side of the building.
“The boat trailer parking, it could be cumbersome,” Whitaker said at the meeting, adding that there is still room to navigate how boat trailer parking would be addressed.
Whitaker also addressed the community’s concerns about how sewer system upgrades should take priority over developments such as this one. But Whitaker said a project like this could help the city build the revenue necessary for larger projects.
“Making this into something where there is a tax base coming back around is what helps pay for that sewer system. You kind of have to have one to have the other,” Whitaker said.
Palmetto apartment construction timeline
Before the lot became part of the CRA, the 3.4-acre parcel housed a Shell gas station.
That meant that, after the CRA purchased the land for $1.1 million in 2012, the CRA received funds from the U.S. Environmental Protection Agency and $300,000 in tax credits from remediating the site.
On May 19, CRA board members ranked each developer’s proposals based on 11 categories, and Mosaic’s plan received the highest number of points.
Then, on June 2, the board voted 4-1 in favor of Mosaic’s plan to be selected for this project.
Now, there will be seven weeks of negotiation before the plan comes back before the CRA board. City commissioners can use that period to talk to the developers individually to address any questions or concerns.
After that, design could begin in September and last through May. The construction goal is to complete the project around August 2028, according to the presentation.
This story was originally published July 30, 2025 at 3:51 PM.
