City selects Main Street Reserve for downtown project

New Port Richey officials have selected a hospitality and events concept for the vacant Main and Bank Building site in downtown. The chosen proposal, Main Street Reserve, aims to transform the property into a destination featuring a conference center, full-service restaurant, and rooftop lounge.

City Manager Debbie Manns announced the decision at a special Community Redevelopment Agency (CRA) meeting on Oct. 26. The CRA board voted to rank Main Street Reserve as its first choice for the redevelopment of the city-owned property.

Five applicants initially pitched ideas for the site in early October. These included Brainstorms Science Discovery Center, Main Street Reserve, the Museum of Archaeology, Paleontology and Science (MAPS), Quamitry Labs Inc. (Signal House), and Sterett Holdings LLC (The Cotee). Quamitry Labs withdrew its application before the Oct. 26 vote.

CRA members, who are also City Council members, previously postponed final discussions to review the proposals and evaluate the building's condition. During the early October session, board members noted that the Harry Schwettman Education Center, located on Grand Boulevard, might better accommodate Brainstorms or MAPS due to its available indoor and outdoor space.

The Main Street Reserve design calls for a new multi-story structure. Key components include a Grand Hall for events, a ground-floor restaurant, and an upscale rooftop lounge. The plan also includes a city-owned parking garage. Total project costs are estimated at $22.4 million, with the CRA contributing just over $3.9 million.

Manns stated that city staff will now enter a due diligence stage to negotiate terms with the developer. This process could take up to 120 days. If the parties cannot solidify an agreement, the CRA will consider an economic development package before revisiting the second-ranked proposal from The Cotee.

Brainstorms, which placed third in the CRA's ranking, released a statement acknowledging the decision. Daisy Thomas, vice president of the Brainstorms Board of Directors, said the organization believed children and families belong at the center of the community's future. The group plans to continue seeking a permanent location in New Port Richey.