June 22, 2023
The Building Oversight Committee agreed with our property listing agent to temporarily suspend active marketing of our two properties for a short time while the City of St. Petersburg completes its consideration of whether to declare some PCC properties as local landmarks. The property is still for sale and agents are still talking with potential buyers.
Background: In March, a church member, acting on her own and against church wishes, filed a third-party application seeking local landmark designations for nearly all of the church property. Even though city officials have assured church leaders that the preschool building will not meet the threshold for local landmark designation, the remote threat of such a designation is enough to detour potential buyers until the city council votes to reject the application in October. Generally, developers avoid properties that are encumbered with historic designations. City officials have told PCC leaders that while the PCC sanctuary might qualify for local landmark designation, it is highly unlikely that the two parcels that PCC members voted to offer for sale would qualify as landmarks.
What’s next: While the city historical commission and later the city council consider the application, our listing agents will continue talking with potential buyers for the two properties and the listing agents will continue assembling essential background information that projects of this size require including investigating zoning and density requirements.
The historical commission will consider the application in August and the matter would go before the city council by October. After the city rejects the application, the listing agent plans to relaunch a vigorous property sales marketing plan.
Bottom line: The summer months are traditionally slow months for commercial property sales. So, the experts on our Building Oversight Committee believe our listing agent’s efforts can now can be focused on gathering the detailed background research needed for such projects. Then after the city council clears our property from local landmark consideration, our listing agent will relaunch a new aggressive round of marketing that will lead to the property sale to finance our exciting renovation plans.
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