City explores purchase of Players Centre property

The Players Centre for Performing Arts is marketing its North Tamiami Trail property as a site to develop an 18-story residential building, but the city is exploring a different idea for the land: a parking garage.

At Monday’s City Commission meeting, the board postponed a scheduled discussion regarding the expired downtown Community Redevelopment Area. Documents associated with that agenda item outlined a list of 14 potential projects within the CRA boundaries in need of funding.

Among them: the purchase of the Players Centre parcel at 838 N. Tamiami Trail. The theater is listing the 1.8-acre site for $9.5 million. The document says the city could purchase the property to accommodate the future redevelopment of the bayfront land around the Van Wezel Performing Arts Hall, located across the street, and the nearby Rosemary District.

Chief Planner Steve Stancel said the idea to purchase the land is just an idea at this point in time — one that has not been vetted by the public or the City Commission. But staff wanted to make sure to take a forward-looking approach as Sarasota Bayfront 20:20 works to produce a master plan for redeveloping the bayfront.

“Where do you put that parking — do you put it right on that piece on the waterfront, or do you put it nearby?” Stancel asked.

At Saturday’s Coalition of City Neighborhood Associations meeting, Planning Director Steven Cover briefly mentioned the potential purchase. Cover said obtaining that property would provide relief for the bayfront land.

“What I think is most important is that the whole bayfront becomes this spectacular place to go,” Cover said. “The less parking on that property, the better.”

Ian Black, whose real estate company is listing the property, said he hasn’t had meaningful conversations with the city about a potential sale. After recently lowering the sale price, Black said there’s been renewed interest in the property.

“We are reasonably confident that we can facilitate a sale of the property to meet the Players' timeline of their move out east,” said Black, referring to the theater’s plans to relocate to Lakewood Ranch. “We’re confident we’re now on the market at the right number.”