USPS Publication Number 16300
T h is C o m mu n i t y N ewsp a p er is a pu bl ica t ion of E sca m bia-S a n t a Rosa B a r Assoc ia t ion
Se r v i ng t he Fi r st Jud icia l Ci rcu it Section A, Page 1
Vol. 20, No. 11
Visit The Summation Weekly Online: www.summationweekly.com
March 11, 2020
1 Section, 10 Pages
MIXING UP
DOWNTOWN
PENSACOLA LOCAL BROTHERS OPEN MIXEDUSE DEVELOPMENT IMPERIUM by Gina Castro
Mixed-use developments are on the rise in downtown Pensacola. A mixed-use development is a combination of residential and non-residential buildings, such as commercial or industrial buildings. This type of development infuses commercial and industrial with residential living to offer a variety of benefits. Studer Properties was one of the first to invest in mixed-use developments. The company spent a whopping $50 million to build Southtowne, a 258unit apartment complex that opened in 2018. The bottom floor of the property is commercial with restaurants such as SaBai Thai on Jefferson and retail stores such as Bodacious Bookstore and Café and Posh Baby. Studer Properties sold this mixed-use development to Stone Point Capital LLC, a Greenwich, Connecticut company, for $60.63 million in December 2019. Although East Garden District (EGD) has not begun construction yet, they too are investing in mixed-use developments. EGD plans to build a retail and residential property on Jefferson Street. The ground floor will be retail and two-story townhomes will be built above. Mixed-use developments was one of Mayor Grover Robinson’s major talking points during the Pensacola Association of Realtors Commercial Forum in January. “I think mixed use is a great thing. For the most part, commercial and residential uses are very symbiotic,” Robinson said.
“The commercial use provides a service that most people living in the residences need and then the residents provide business for the commercial property. There is a symbiotic relationship that I think can be very good when done the right way.” Brothers and Gulf Breeze natives Paul and Steve Grimes are the developers behind the latest mixed-use development to enter the downtown Pensacola scene. The Imperium is a three-floor building located at 120 West Government St. Steve moved to California for a career with software sales. Paul made a life for himself in East Hill, where he has been a successful appraiser for the last 20 years. Paul and Steve spent a lot of time in Pensacola growing up, and even after moving from the area, Steve visited Pensacola often. During one of Steve’s visits, the brothers got to talking about finding a vacation home in downtown for Steve. Steve wanted a condominium above a commercial space, but they couldn’t find a property for sale that fit his needs. “We are both big believers in the downtown. We wanted to be a part of it,” Paul said. “But, nothing was for sale, so
we thought why don’t we just build something and do it ourselves that way we can have brand new units and add something nice to downtown.” So, the brothers began looking for empty lots in the heart of downtown. Eventually, they found a parking lot across from the Escambia County Courthouse and began building the Imperium. The architect of the project is Pensacola native Brian Spencer. Spencer believes mixed-use properties are on the rise because of their efficiency. “Mixed-use buildings have been the rule vs. the exception for centuries. Prior to the advent of automobiles and the associated construction of high-speed highways and interstates, the mixture and close proximity of commerce and dwellings provided an efficient use of real estate,” Spencer said. “This efficiency is becoming increasingly desirable today, as people realize the benefit of eliminating the less productive time that is spent commuting in a vehicle.” Spencer decided to approach the design of Imperium from a brutalist architectural angle to match the design of the courthouse. “Brian calls that block “brutalistic” because the courthouse is a kind of modern with sharp edges, and it’s not an old style- historic design,” Paul said. “He thought we should be more consistent with that building because it includes the whole block.” The Grimes brothers wanted a very modern, minimalist look, which fit the brutalist style. The face of Imperium is primarily glass windows, and the structure of the building and patios is block-like with sharp edges. The ground floor has three commercial units that are each 685 square feet and priced at $274,000. The professional office space has a single open work area with 12 inch ceilings, built-in kitchenette and a glass storefront, which can be an ideal space for a studio or a gallery.
There is also reserved parking for the commercial units and a gated entrance to the building. Above the commercial units are three two-floor townhomes that are each 2,677 square feet and priced at $1,245,900. The ceilings range from 10 to 22 feet in height. There are two and three-bedroom floor plans and 3.5 bath layouts. The townhome also comes with a large twocar garage and a private elevator to all three levels. Paul said that the garages were designed to fit two cars and a golf cart.
Paul said that Imperium was just the property the Indiana couple was looking for. The couple wanted a brand new, modern building that is fewer than a two block walk from Palafox. One of the major selling points of mixed-use properties is that they are located in the inner city where there is more walkability. The National Association of Realtors 2017 Community and Transportation Preferences Survey, which surveyed 3,000 adult Americans living in the 50 largest metro-
The amenities within the home are a kitchen with built-in highquality appliances, luxury bathrooms, oversize closets, soaring ceilings in the living room and a private balcony overlooking Government Street. The Grimes brothers plan on keeping a stack, a townhouse and commercial condo, for themselves. Paul said that they haven’t sold any of the commercial condos, but they have had several bites, including a hair salon, Papa Murphy’s and a juice bar. However, they did sell a townhouse to a couple from Indiana, which leaves the middle townhome and two commercial condo still available.
politan areas, found that more now than ever before. The survey also found that 48 percent of respondents said that they would rather live in a home with a smaller yard in a community that is within walking distance of retail stores, work and nightlife than any other type of home and community combination. Anna DeSimone, author of Housing Finance 2020 and a housing advocate, told Forbes Magazine that millennials prefer properties that suit their lifestyle, so they prefer to live in walkable cities or near public transportation. If you are interested in learning more about Imperium, go to the website imperiumpensacola.com.
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