A 20-story condo building, a hotel, new stores and restaurants, and a public green are all included in the proposed project along the Manatee River.
The development agreement to sell Bradenton's City Hall and police headquarters was approved by its City Council after years of discussion.
Councilwoman Marianne Barnebey is a native of Bradenton. She was one of the "yes" votes.
"It will change our downtown," she said. "And change is scary. But you've heard me say it before, the only thing that likes change is a wet baby. However, I think it's going to help our city in ways that we can't even see yet."
The Bradenton City Council began considering selling its government’s operations in 2022 after an appraisal estimated the land was worth about $10 million.
Bradenton Councilwoman Jayne Kocher also approved the proposal.
"This project is going to help us create a place where people can live and work and play, and hopefully it'll be sustainable for our families' quality of life and help their financial future as well, " she said.
The sale's closing is not expected until 2026.
During that time, Bradenton officials say they will work on ways to help lessen the impact future construction will have on residents.
