The development team behind Lot 5 at Maritime Park announced that the project is moving toward a targeted year-end groundbreaking, marking a major step forward for one of the most important undeveloped parcels on Pensacola’s downtown waterfront.
Led by The Dawson Company and Corporate Contractors Inc., the project brings together Reverb by Hard Rock, Rhythm Lofts, destination dining, wellness uses, parking, public improvements and a new public plaza designed to make the waterfront more active, more welcoming and more useful to the people of Pensacola. But the larger story is not just what is being built. It is what Pensacola gets back.
Lot 5 is expected to create jobs during construction, support permanent jobs after opening, bring newresidents downtown, attract visitors, generate new local spending, strengthen the city’s tax base and create a public gathering place on the waterfront. The project is designed to turn an underused parcel into an active destination that works for residents, visitors, downtown businesses and the broader community.
“This project is about more than a hotel, residences or a beautiful building,” said Tamara Bowens, President and Chief Operating Officer of The Dawson Company. “It’s about creating a place that belongs to Pensacola— one that puts people to work, brings new life to the waterfront and helps carry the city into its next chapter.”
“I think this project is yet another indication that Pensacola is a city on the rise and I am grateful that the Dawson Company and Corporate Contractors Inc. see the value in bringing their investment and their vision here,” said Pensacola Mayor D.C. Reeves. “I’m grateful for the commitment they’ve shown to our community, and I look forward to the future of this project.”
What Pensacola Gets Out of Lot 5
For residents asking, “What do we get out of this?” the answer is simple: more jobs, more activity, more taxbase, more public space and more reasons for people to come downtown and stay longer. The economic-benefits report for the project estimates that the hospitality component of Lot 5 will generate approximately $38 million in annual ongoing economic impact once the project is operating, or approximately $563 million over 15 years.
That means Lot 5 is expected to put tens of millions of dollars into the local economy every year through hotel activity, payroll, vendors, guest spending, resident spending, restaurants, events, maintenance, services and the everyday purchases made by people who live, work, stay and gather at the project.
This is not a one-time benefit. It is recurring economic activity. Every year the hotel operates, every year residents live at Rhythm Lofts, every year visitors come to Reverb by Hard Rock, and every year people gather in the plaza, money moves through the Pensacola economy.
The project will also generate approximately $12 million in stabilized residential economic output, equal to approximately $182 million over 15 years, and approximately $14 million in resident economic impact tied to an estimated 450 to 500 residents.
That matters because full-time residents create a different kind of value than visitors alone. Residents buy groceries, eat in local restaurants, use local services, support nearby businesses, invite friends and family downtown, and help keep the waterfront active beyond game days, weekends and tourist seasons.
Construction Jobs and Immediate Economic Activity Before Lot 5 opens, the construction itself is expected to create a major economic benefit. The project will also generate approximately $171 million in construction-phase GDP contribution and approximately $287 million in total construction economic output and employment impact.
This means that the construction period is expected to support a large amount of work for contractors, tradespeople, suppliers, engineers, consultants, service providers and other businesses connected to getting the project built. It is money spent in wages, materials, professional services, equipment, supplies and local business activity before the first hotel guest checks in or the first resident moves in. Lot 5 is therefore both a near-term construction engine and a long-term economic engine.
A Public Plaza for a Public Waterfront
At the heart of Lot 5 is a public plaza intended to become a new front porch for Pensacola’s waterfront. “Lot 5 is private investment serving a public purpose,” said Tamara Bowens. “We believe the community will be able to see and feel the benefit — in jobs, public space, tax base, downtown energy, new residents, new visitors and pride of place. This is the kind of project that can help define the next era of Pensacola’s waterfront.”
The development team is investing approximately $24 million for a public portal and plaza, a gift to the city of Pensacola. The plaza is intended to support public and private programming, including community gatherings, farmers markets, outdoor movie nights, concerts, corporate events and other activities that make the district more vibrant.
That is important because great waterfronts are not only viewed from a distance. They are used. They are walked. They are programmed. They are shared. They give people a reason to come together.
Lot 5 gives Pensacola the opportunity to create a waterfront place that is open, active and welcoming — a place for families before a ballgame, workers at lunch, residents in the evening, visitors on the weekend and the community during civic events. The public plaza is a true public amenity and an economic generator.
Why This Is Good for Pensacola
Lot 5 is good for Pensacola because it turns potential into use.It takes a long-discussed waterfront parcel and converts it into construction jobs, permanent jobs, newresidences, hospitality activity, public improvements, visitor spending, resident spending and public gathering space. It strengthens Maritime Park by adding daily life around the stadium. It supports downtown businessesby bringing more people to the waterfront throughout the day and into the evening. It gives residents andvisitors a reason to spend more time in the city. Just as important, Lot 5 helps Pensacola compete for the future without forgetting who it is. Pensacola has always been shaped by its waterfront, its maritime history, its neighborhoods, its music, its military and aviation heritage, and its sense of place. Lot 5 is intended to honor that past while creating something new: a modern waterfront district that is active, walkable, public-facing, economically productive and built for the next generation.
Rooted in Pensacola
That commitment starts with the people building Lot 5. The Dawson Company has long called Pensacola home since 2011 and was integral in managing and overseeing the development of Maritime Place officebuilding, led the development of Southtowne alongside Quint Studer and has developed over 700 residential units on Nine Mile Road. CCI has grown right alongside The Dawson Company— opening its own Pensacola office and expanding its local team to support the project from the ground up. For both companies, Lot 5 isn’t being built from a distance. It’s being built by neighbors, with local jobs, local knowledge and along-term stake in the city’s future.
Reverb, Rhythm and a New Waterfront Destination
Reverb by Hard Rock, anchored by Michelin-starred Chef Akira Back’s namesake restaurant Akira Back, is planned as a music-forward hospitality experience that brings new energy to the waterfront. Rhythm Lofts is planned to add a full-time residential community that supports daily activity in and around Maritime Park.Together, the hotel, residences, restaurant, wellness uses, parking, public improvements and public plaza are designed to create a place that works on several levels at once. It will serve visitors. It will serve residents. It will support local businesses. It will bring new spending downtown. And it will give Pensacola a new civic gathering place on the waterfront.
Transformative, Catalytic and Timely
Lot 5 is transformative because it does not do just one thing. It creates jobs. It grows economic activity. It brings new residents downtown. It attracts visitors. It adds public space. It supports local businesses. It strengthens Maritime Park. And it helps deliver on a long-held vision for a more active waterfront. It is catalytic because it can help unlock what comes next. Lot 5 is not simply a standalone project. It is a signal that Pensacola’s waterfront can support high-quality development that is economically meaningful, publicly accessible and rooted in the city’s identity. And it is timely because Pensacola is ready. Downtown has momentum. The waterfront has momentum. The community deserves a project that respects the past while helping carry the city and region into the future.
About The Dawson Company
The Dawson Company, doing business as Inspired Communities of Florida, is a second-generation,Pensacola-
About Corporate Contractors Inc. / Hendricks Holdings
CCI is a respected general contracting firm based in southern Wisconsin. For more than four decades, CCI’s team of dedicated professionals and skilled craftspeople has successfully delivered innovative construction solutions and valuable insights across a wide range of projects—including mixed-use, multi-family,industrial, commercial, educational, hospitality, healthcare, and more. Whether building new or transforming an existing structure, CCI is driven by a passion for excellence and a commitment to providing collaborative, client-focused services. For more information, visit www.cciwi.com.
