finally got what it was looking for: a longer lease and the rights to expand where it always wanted.
The Bradenton City Council recently approved a new 140-year lease for ArtCenter on a property owned by Bradenton Riverwalk Partners. That property includes the parcel that ArtCenter is on, giving it the option of expanding on adjacent land.
"This allows us to move forward with our growth plans," says William Mears, treasurer for ArtCenter, which plans to start a fundraising drive for expansion.
Originally, ArtCenter was looking to expand in the Sandpile site in Bradenton. It had 20 more years on its lease at that location.
The new agreement allows it to expand north of its existing parcel, where it has been for 50 years. Bradenton Riverwalk Partners also gets a strong anchor that could help its development plans for Bradenton on Third Avenue West. Those plans include a 500-seat restaurant, a 94-room hotel, 56,000 square feet of retail space and 14,000 square feet of office space.
Writer: Dave Szymanski
Source: William Mears, ArtCenter Manatee