Downtown Sarasota Building Projects Boom

Article Written by : By John Hielscher
Staff Writer For Herald Tribue

Its being called the billion-dollar boom. Construction is completed, underway or planned on projects that will bring more than 4,200 new apartments, condominiums and hotel rooms in and around downtown Sarasota. Below is guide to all of the completed, underway or planned projects in downtown Sarasota.

Developers and their lenders are betting heavily that Sarasota is ready to handle such an eruption of growth, which also includes new office and retail spaces.

Dozens of projects, some spanning the maximum 18 stories, will permanently change the appearance of the city, a post-recession surge of building fueled by pent-up demand and confidence in the future.

The city has issued building permits valued at more than $1 billion in the past three years. While that total include all types of construction, such as repairs and renovations, the new projects are the top-dollar draws.


In the 2016 fiscal year alone, the city processed $442 million worth of permits.

The Elan Rosemary apartment, at $33.6 million, the Embassy Suites hotel, at $25 million, and the DeMarcay condo and retail, at $23.7 million, were among the largest.

 

UNDER CONSTRUCTION

1500 State Street

1500 State St. – 20 condominiums, 4,699 square feet office space, 3,708 square feet retail space

$4.2 million/State Street Partners SRQ LTD.

The Jewel

1301 Main St. – 19 condominiums, retail space

$19.4 million/Main Street J Development

The DeSota

1401-1445 Second St. – 180 apartments, 15,000 square feet retail space

$40 million/Carter Acquisitions LLC

Hotel Sarasota

1255 N. Palm Ave. – 163 rooms, 10,000 square foot ballroom, restaurant

$13 million/Floridays Development Corp.

Embassy Suites & Spa

202 N. Tamiami Trail – 180 rooms

$40 million/JEBCO Ventures

VUE/Westin

1 N. Tamiami Trail – 141 condominiums, 255 hotel rooms, 14,000 square foot ballroom

$120.7 million/Kolter Group

Valencia at Rosemary Place

Cocoanut Avenue – 30 townhomes

$3.38 million (first 18 units)/Icon Residential

Cityside

700 Cocoanut Ave. – 489 apartments, 8,700 square feet commercial space

$25.7 million (phase 1 of 229 units)/Rosalyn Holdings LLC

Vanguard Lofts

1343 Fourth St. – Six townhomes

$2.4 million/Tetra Terra Development

Risdon on 5th

1350 Fifth St. – 22 condominiums, 7,000 square feet office and retail space

$6 million/Steven Bradley

Rosemary Square

1440 Blvd. of the Arts – 39 apartments, 30,000 square feet retail and office space

$6.2 million/Rosemary Square LLC

Elan Rosemary Apartments

710 N. Lemon Ave. – 286 apartments

$33.6 million/Greystar GB II LLC

Citrus Square, phases 2 and 3

505-555 N. Orange Ave. – 28 condos, 4,200 square feet commercial space

$4.4 million/MBFC LLC

Urban Flats

1401 Fruitville Road – 228 apartments, 3,700 square feet retail space

$30 million/Framework Group LLC

School Avenue Townhomes

41 School Ave. – 37 residential units

$4.3 million/Icon Residential

Sabal Palm Plaza

1936 Ringling Blvd. – 28,660 square feet office space

$5 million/Mark Kauffman

The “Q”

1750 Ringling Blvd. – 39 townhomes

$8.4 million/JEBCO Ventures

Sansara

300 S. Pineapple Ave. – 17 condominiums, 2,632 square feet commercial space

$11 million/MK Equity Corp.

Orange Club

635 S. Orange Ave. – 15 condos, nine townhomes

$8.7 million/Vandyk USA

Echelon

624 S. Palm Ave. – 17 condominiums

$20 million/The Ronto Group

One88

688 Golden Gate Point –  Eight condominiums

$8.6 million/Vandyk Sarasota-Golden Gate Point LLC

PLANNED

Lemon Avenue Pad Site

Lemon Avenue at Pineapple – 4,310 square feet of retail/restaurant, 4,310 square feet office space

State Street Partners SRQ Ltd.

The Mark

1400 State St. – 157 condominiums, 35,000 square feet of retail, 11,000 square feet office space.

Kolter Group

DeMarcay

33 S. Palm Ave. – 39 residential units, 2,400 square feet retail space

$23.7 million/XAC Developers

Quay Sarasota

Tamiami Trail – 695 residences, 175 hotel rooms, 38,972 square feet office space, 189,000 square feet retail space

$1 billion/GreenPoint Communities LLC

The Sarasota Modern

1242 Blvd. of the Arts – 81 hotel rooms

$17 million/Cocoanut Arts LLC

DRAPAC

1329 Fourth St. – 62 residential units, 2,820 square feet commercial space

$4.2 million/DRAPAC Capital Partners

Zaharada

1542 Fourth St. – Six condos, 5,150 square feet retail space

$4.8 million/Rosemary District Development LLC

Florida Studio Theatre

751 Cohen Way – Five residential units

$1.2 million/Florida Studio Theatre

Office building

2010 Main St. – 3,370 square feet retail/restaurant space, 3,370 square feet office space

$760,000/The Schimberg Group

Fruitville Hotel

1351-1365 Fruitville Road – 118 rooms

Choice Hotels International

Azure on Palm

711 S. Palm Ave. – 15 residential units, two guest suites

$9.4 million/Thirty-Four-Seventy-Five LLC

Enclave at Laurel Park

1938 Laurel St.- 17 single-family and attached homes

$1.2 million/David Weekley Homes

HUB Building

1697 Second St. – 97 residential units, 6,271 square feet office space

$14.9 million/Biter Idea Vault

Sarasota Station

2211 Fruitville Road – 393 apartments

S.S. Sasquatch (Vengroff)

Allure

111 Golden Gate Point – 10 townhomes

$7 million/JEBCO Ventures

609 Golden Gate Point

609 Golden Gate Point – 8 condominiums

Golden Gate Point Ventures LLC

Aqua

280 Golden Gate Point – Eight condominiums

$11.0 million/280 Golden Gate Point LLC

Hampton Inn & Suites

1330 Fruitville Road – 162 rooms

JEBCO Ventures

Payne Park Village

295, 301, 325 and 601 South School Ave. – 135 townhomes

David Weekly Homes

COMPLETED

State Street Garage

1538 State St. – 395 parking spaces, 13,873 square feet retail space

$11.3 million/Garage by city of Sarasota, retail by WMR Consulting

Aloft Hotel and Apartments

1 N. Palm Ave. – 138 hotel rooms, 139 apartments, 6,000 square feet restaurant, 2,175 square feet retail space

$31.1 million/JWM Management

 

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