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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