The City of Bradenton is taking another step toward expanding redevelopment efforts, identifying 16 areas across the city that could be targeted for future revitalization and investment

On Sept. 23, the Bradenton City Council unanimously approved a Finding of Necessity, allowing the city to begin the process of establishing a new Community Redevelopment Area. City officials say the overall process of creating the new CRA is expected to take approximately one year. City of Bradenton

16 Areas Identified for Revitalization

The redevelopment study identified 16 areas where conditions may justify additional public and private investment. Issues cited in the study include vacant or underutilized properties, deteriorating improvements, fragmented ownership, outdated lot configurations and concentrations of government-owned land. Pulse of Manatee

Several prominent properties are included, including the former Bradenton City Hall site at 500 15th Street West. Six of the identified areas contain city- or county-owned property, according to reporting on the proposal. Pulse of Manatee

Returning underutilized properties to productive private use could have a broader economic impact by encouraging new development while placing additional real estate on the tax rolls.

Another Push for Investment in Bradenton

Bradenton already operates three CRA districts: Downtown, Central and Tamiami Trail. CRA programs use increases in property values within their boundaries—commonly known as tax increment revenue—to support redevelopment projects, infrastructure, housing and private investment. City of Bradenton

The city’s existing redevelopment efforts have already produced significant activity. Bradenton reports 337 new affordable housing units and 40 approved redevelopment grants and incentives as accomplishments under its recent CRA programs. City of Bradenton

The city is also seeing major private investment in and around its existing redevelopment districts. One example is the former City Hall property, where a large mixed-use redevelopment has been proposed featuring multifamily housing, restaurant space and public waterfront amenities. Bradenton Herald

What It Could Mean for Bradenton Real Estate

For commercial real estate investors and developers, the identification of these properties could create new opportunities for land assemblage, infill development, multifamily housing, neighborhood retail and mixed-use projects.

Publicly owned and long-underutilized sites can be particularly important because redevelopment can introduce new taxable value while helping connect existing neighborhoods and commercial corridors.

The city’s action does not approve development on all 16 areas. Instead, it advances the process required to establish a new redevelopment district and potentially use CRA tools to encourage future investment. Pulse of Manatee

The proposal will continue through additional review, including consideration by the Bradenton Planning Commission and Manatee County before returning to the City Council. Pulse of Manatee

For a Bradenton market already experiencing significant residential and commercial investment, the initiative could open another group of underutilized properties to redevelopment opportunities in the years ahead.