Commercial Property Opportunities For Anna Maria Island...
As recently reported in local media, "the Pine Avenue restoration project no longer needs artist renderings to illustrate what’s to come for Anna Maria’s business district."
The nearly completed two-story cottage-like structures located at 315 and 317 Pine Ave. now serve as a preview to the retail, office and residential developments in store for Manatee County’s tourist hottest tourist destination location.
These pink and green units have commercial tenants ready to move in and will be the first of several mixed-use structures to be developed along the Pine Ave strip.
Anna Maria Island Accommodations
The locally owned vacation rentals company, Anna Maria Island Accommodations, will be the first commercial tenants to move into the Pine Ave restoration project. Anna Maria Island Accommodations purchased the 2,500 square-foot commercial unit at 317 Pine Ave., and is expected to be moved in and up and running some time in late May.
At 315 Pine Ave., Lor Ell’s Hair Designs and Island Podiatry have been secured as the remaining commercial tenants.
Susan Brinson, co-owner of Anna Maria Island Accommodations, said her vacation rental business will occupy one half (1,250 square-feet) of the commercial space available at 317 Pine Ave. She plans to lease the other half of the space to a small retail business, yet to be identified.
As for the existing location of the Anna Maria Island Accommodations office, she said the Pine Ave structure and location was a good fit for their main location, while the Holmes Beach location would be maintained as a secondary office.
“I think it’s going to be an amazing project,” Brinson said. “With all the potential for shops, I think it will draw more people to the north end of the island.”
It's being reported that business partners Ed Chiles and Micheal Coleman, the creators of the Pine Ave Restoration Project, have three more similar structures in the works for Pine Avenue. They say they want the mixed-use structures to preserve Pine Avenue as the island’s "boutique" business district.
“We’re very excited that our vision of this Pine Avenue center for Anna Maria is under way, we want this to be here to enhance the quality of life”, Chiles said.
Pine Ave Restoration Project Cost
Although the total cost of the Pine Avenue project has not been disclosed, the 2,500 square-foot commercial units in the first structure were listed at $450,000 at pineavenueinfo.com, and 2,000 square-foot residential units were listed from $595,000-$695,000.
Pine Ave Immune to Economic Times
David Teitelbaum, a Realtor with Island Real Estate, said he doesn’t anticipate the nation’s economic meltdown to bring down buyer interest in the Pine Ave project units. “Here at this very time we have money being put into the opportunities in this project,” Teitelbaum said.
Mixed-use Structures Benefit Existing Businesses and Local Residents
Sandy Mattick, owner of Pine Avenue General Store, said the new mixed-use structures have potential to benefit her business, as well as local residents. “We’d like to see a variety of things here so the locals don’t have to go anywhere else to shop,” Mattick said.
What's Next For Pine Ave?
It's been reported that the next two mixed-use structures at 308 Pine Ave. will be construction within the next 60-90 days. The remaining structures will be built at 401 and 503 Pine Ave. Coleman says, "the goal is to have the project finished and sold by 2011."
For more information on the Pine Ave Restoration Project, check out the Pine Ave Project section of the blog.
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