In 2013, the City Commission voted to authorize a public referendum for the sale of the property located at the south side of Martin Luther King, Jr. Blvd and the west side of Dixie Highway which was formerly known as the Stuart Trailer Town as it was previously a residential trailer park.  On November 5, 2013, the residents of Stuart approved the Referendum and authorized the sale of the land for redevelopment. The property is located in the CRA.  The property consist of two parcels. One is approximately one acre and the second is approximately 1/2 acre.  901 Hub Inc., intends to purchase the property and seek a PUD/ Develpoment Order authorizing a mixed use project which will include one bedroom residential rental units.

On January 14, 2019, the City Commission authorized the City Manager to negotiate a contract for the sale; obtain an appraisal and otherwise move forward.  The parties have entered a contract and are seeking authority from the Commission to move forward with the sale.  The offer for purchase was for $630,000.00 and the City paying the real estate commission as the seller.   The appraisal was not complete by the time the agenda item was due and therefore will be supplemented with the executed contract at the Commission meeting.  Although the hardcopy of the appraisal was not received in time to attach to agenda it has been confirmed that it is appraised at $630,000.00.

The PUD/ Development Order will be submitted by the buyer at a future date and the commission will have an opportunity to review the project at that time.