$22.4 million Main Street Reserve plan selected for New Port Richey downtown

Downtown New Port Richey is set to undergo a major transformation centered on a $22.4 million hospitality and events project. The city’s Community Redevelopment Agency, or CRA, voted on October 26 to select the Main Street Reserve proposal as its top choice for redeveloping the old Main and Bank Building.

The selected plan envisions a multi-story destination that includes a Grand Hall conference center, a full-service restaurant on the ground floor, and an upscale rooftop lounge. The project also proposes a city-owned parking garage and potential space for retail, office, and residential use. This development would replace the current vacant structure on a prominent downtown corner.

Four groups pitched their ideas for the city-owned property earlier in October. The applicants were the Brainstorms Science Discovery Center, Main Street Reserve, the Museum of Archaeology, Paleontology and Science, known as MAPS, and Sterett Holdings LLC, which proposed a project called The Cotee. A fifth group, Quamitry Labs Inc. with its Signal House concept, withdrew its application before the final vote.

CRA members, who are comprised of City Council members, had previously delayed the decision to allow more time for reviewing the proposals and evaluating the building's condition. At the October 26 meeting, City Manager Debbie Manns confirmed the withdrawal of Quamitry Labs. She noted that the remaining four applicants were present to answer questions from the board.

During the discussion, some community members attended in support of the Brainstorms Science Discovery Center. However, CRA members expressed concern that the Harry Schwettman Education Center, the former Gulf High School building on Grand Boulevard, might offer a better fit for a science museum or discovery center. They cited the Schwettman building's larger indoor and outdoor space as a key advantage for those specific proposals.

The CRA voted to rank Main Street Reserve first, followed by The Cotee, Brainstorms, and MAPS. The Main Street Reserve project estimates total costs at $22.4 million. The CRA is expected to contribute just over $3.9 million toward the total expense.

City Manager Manns stated that staff will now enter a due diligence phase to negotiate terms with the Main Street Reserve developer. This process could take up to 120 days. If an agreement cannot be reached, the CRA will have the option to revisit the proposal from Sterett Holdings LLC.

Manns explained that if the terms are solidified, the city will consider an economic development package for the CRA to review. This package will include the proposed agreements. Currently, there is no active redevelopment at the Schwettman building, though the city aims to develop a reuse plan for that site once environmental remediation concerns are addressed.

After the meeting, Brainstorms released a statement acknowledging the decision to begin negotiations with Main Street Reserve. Daisy Thomas, vice president of the Brainstorms Board of Directors, said the organization did not propose a science discovery center downtown simply because it needed a building. She stated that the group believes children and families belong at the center of the community’s future.

The news release explained that Brainstorms preferred the downtown location because of its proximity to Sims Park, the public library, and local businesses. The organization plans to continue pursuing opportunities to establish a permanent home for its hands-on discovery center in New Port Richey.