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Developer says Sinatra/Heritage Point project remobilizing; council member seeks construction timeline and neighbor outreach

5505326 ยท July 29, 2025

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Summary

Developers of the Sinatra (Heritage Point) project at Canal Side told the committee they have lender interest and expect a closing this summer; construction is about 47% complete and they estimated a 12-month build once remobilization begins. The committee tabled the item for further tracking.

Council Member Nowakowski and developer Matt Connors updated the Committee on Community Development on July 29 about the Sinatra development at Canal Side, a waterfront project adjacent to Marine Drive and several neighborhood sites.

Matt Connors told the committee the project faced earlier financing setbacks after a lender failure but said a new lender, Excalibur, toured the site and "we have a path forward with Excalibur funding." He said loan documents were being exchanged daily and that the developer expects a closing sometime in August and "we are 47% complete on the project right now." Connors estimated that once remobilized the construction duration would be about "12 months from when we begin" and said the team has winter conditions and a plan to remobilize contractors and maintain active stakeholder communications.

Council Member Nowakowski asked what the construction timeline would mean for adjacent stakeholders and whether the developer will maintain a notification plan for neighbors, tenants and institutions such as BMHA and Explore & More; Connors said the project has been meeting with the Canal Side neighbors, has an NTP plan approved by NFTA and the city and county, and will maintain a field office on site and regular updates.

Council members praised the developer's responsiveness and asked for continued communication. The committee opened discussion and later tabled the item; no construction permits or council approvals were adopted during the meeting.

The developer said he would continue updates to the council once closing is finalized and promised to coordinate with neighborhood stakeholders on construction notices and on-site management.