This is really interesting. I agree this would be a major coup for San Marco and I hope it's true. I'll keep an eye out for rezoning signs when I'm in the Square. I'm a supporter of the arts but that gallery doesn't really draw me towards San Marco Square. It's kind of a throwaway space in a highly desirable area. Once the Publix and associated businesses open in that area the Square will become even more popular than it already is. I'm sure the residents around that area are going to hate this because that area is already so dense. If true the zoning hearings will no doubt be entertaining.
I'm not really sure I'd classify Flying Iguana as a chain unless there's a parent company or something. It's not totally uncommon for a local restaurants to have multiple locations. Some examples include Burrito Gallery, Maple Street Biscuit Company, European Street, M Shack, Indochine, Forking Amazing Restaurant group of restaurants, Timotis, Moon River Pizza, Al's Pizza, etc. I could go on forever.
I tried to find the most recent edition of the San Marco Preservation Society newsletter but their website is woefully out of date. They might want to step up their online game.