Savoy Place will create 24 apartment units and retail space at the site of the former Savoy night club.
parking, it is located behind the property, preserving the activated street fronting retail and restaurant space, with an outdoor patio area to support a restaurant. Why this area in particular? Quint and Rishy Studer have a long history in the Belmont DeVilliers neighborhood, going all the way back to their renovation of what is now Five Sisters Blues Cafe. They really appreciated the history and diversity of the neighborhood, and have continued to try and be a part of this renaissance, with the DeVilliers Square office building and now Savoy Place. Do you have an approximate opening date? October 2020
Concerns about gentrification have been raised. How do you address these concerns? Gentrification is a word that means different things to different people. In Florida, with the Save Our Homes tax protections, it is very unlikely for someone to be taxed out of their home because of increased property values. If someone sells their property, or redevelops a property, that can obviously impact the taxes on a specific lot, but it does not force homeowners out of a neighborhood. We don’t see gentrification as being a concern because we’re taking a vacant lot and building market-rate apartments there. We aren’t tearing down affordable housing and building highdollar condos. In fact, compared to some of the other new developments in the area, Savoy Place will be more accessible to more people. nwflbusinessclimate.com | Business Climate | 25