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Design plans are finalized for Prima 135, an upscale steakhouse with an Italian flair, coming to the Florida National Bank Building at 113 S. Tennessee Avenue in Downtown.
Cory Petcoff, president of Baron Management LLC, owners of the building since 2014, said they’ve spent the past year working on the design.
Within 30-45 days, Petcoff said construction designs should be complete, and they will be ready to apply for a building permit. While he originally anticipated opening by the end of this year, he is optimistic that the restaurant will open in summer 2026.
Petcoff believes the restaurant will add 100 jobs and bring people back to an underused portion of Tennessee Avenue. “It provides an amenity to this city that I think we’ve been hungry for,” he said. “It’s going to make such a great addition to Lakeland’s fine dining scene.”
Budget and CRA funds
In October 2024, the Lakeland Community Redevelopment Agency (CRA) board approved incentives up to $250,000 to be paid once the project is successfully completed and its developers can document eligible construction costs.
Petcoff estimates that the final budget will be $3.5 million, including the investment from Bill Freeman, the restaurateur behind the Prima 135 concept.
There have been no significant changes to the construction budget or the CRA funds since they were approved. Petcoff said that depending on when they apply for the building permit, he may need to file for an extension of the CRA funding.
Historic charm with a modern feel
Petcoff said that the design preserves unique features of 1946 Art Deco building, while updating the space.
He explained that converting the historic building has come with some challenges, like installing a sprinkler system without substantially changing the the wood coffered ceiling. Petcoff also said he worked with the city to purchase the alley easement behind the building so they can update the fire escape and add external walk-in coolers.
“It is surprising just how much work goes into turning an office building into a restaurant,” Petcoff said. “There are many pieces that just take a lot of thought and planning to make sure that it’s successful.”
When the transformation is complete, Petcoff said that there will be a horseshoe-shaped central bar, surrounded by tables with space for at least 150 guests. The kitchen, which will be visible from the dining room, will replace the bank’s teller cages. The restaurant will also feature a chef’s table.
Right now, he does not plan to lease the second floor, so it will be available for a possible expansion of the restaurant in the future.
Reactivating a corner of downtown
Despite the scale of the build out, Petcoff is hopeful that once construction begins the project should be completed in eight or nine months.
He has heard concerns about the building’s paid parking lot, operated by Seven One Seven Parking Enterprises. Once the restaurant is open, he said parking will be free to patrons with validation.
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