FEMA '50% rule' could be key factor for return of Shore to St. Armands

A plan to bring the popular Shore restaurant back to St. Armands Circle will likely have to overcome the 50% FEMA rule for redeveloping structures in flood-prone areas.

Shore owner Tom Leonard closed the original retail shop and second-floor restaurant after flood waters plagued St. Armands Key during the 2024 hurricane season.

During a pre-application conference with the city’s Development Review Committee on Dec. 17, plan reviewers informed representatives of the project that simple flood proofing won’t be enough to meet the federal guideline if the improvement to buildings at 24 and 28 N . Boulevard of the Presidents exceeds half of the appraised value of the buildings. 

That means the entire project must be brought to current code requirements for flood resilience. The FEMA rule applies if repairs or improvements to a building in a flood zone cost 50% or more of its pre-damage/pre-improvement market value. That often means raising a structure to base flood elevation in order to meet modern safety codes to maintain insurance eligibility and reduce flood risk as required by the agency.

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To be determined is whether the cost of installing flood-proof glass and panels at the ground level would be removed from the calculation as Deputy Building Official Mike Taylor informed Bill Waddill of project consultant Kimley-Horn. 

As other staff reviewers discussed the plan with the applicants, Taylor visited the Sarasota County Property Appraiser’s website to research the value of the two structures. The building at 28 N. Boulevard of the Presidents is valued at $1.3 million and 24 N. Boulevard of the Presidents at $800,000. Including a 20% upward adjustment absent a privately executed appraisal, that comes to approximately $1.2 million in value of the structures. Land value is not included in the FEMA rule calculation.

“It doesn't sound like this project can be built for under 50% of the value of that,” Taylor said. “Even with a private property appraiser, it would be difficult to meet those numbers and still be able to get what you want out of this.”

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What they want — they being applicants United Associates Ltd. and Kauffman Family Partnership — is to redevelop the two-story commercial properties that have been vacant since the 2024 hurricane flooding into a three-story “Shore flagship” building that would include a Shore-branded restaurant, cafe and retail store. Above would be a new third story of either residential space or a boutique hotel, a three-phase project a news release described as the first “fully immersive Shore lifestyle destination.”

Because the redevelopment of the commercial spaces will require no rezoning, a future site plan may be administratively approved. The eventual third-floor phase would require approval of the Planning Board.

Leonard closed the two-story restaurant and retail store at 465 John Ringling Blvd. in the aftermath of the flooding suffered by St. Armands Circle during hurricanes Helene and Milton in 2024. He since leased the space to Tommy Bahama, which moved its restaurant from its original location about three blocks east at 300 John Ringling Blvd. 

That space remains vacant.

Shore still operates restaurant locations at 800 Broadway St. on Longboat Key just south of Anna Maria Island and at Disney Springs.

The next step toward approval of the St. Armands Shore project will be an initial submittal to the DRC.