A new development is coming to downtown Pensacola on the site of the old YMCA building on Palafox, which will be demolished. Developer Fred Gunther said “Galvez-town” will consist of nine single-family homes, 2,900 square feet of office space, and a 7,000 square foot restaurant space. The name was inspired by the location where British forces surrendered to Spanish commander Bernardo de Galvez during the siege of Pensacola. Prices for the lots range between $195,000 and $210,000. Gunther said he expects demolition to be complete in six to eight weeks.