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Update on new Sarasota development projects

by Roger Pettingell

Projects with updated completion dates

These communities are shaping the new skyline of downtown Sarasota

Ritz-Carlton in downtown Sarasota
The Grande - This view from the Hyatt Regency shows the Grande with the current Ritz-Carlton next door.

Downtown development is progressing well. Seemingly one story of construction is unfolding before our eyes each week at the Grande and the BLVD in downtown Sarasota. They are on Tamiami Trail in the most visible area of downtown. The landscape of the Sarasota skyline is changing.

These are the numbers. There are 21 projects under construction citywide and seven have been completed. Of the 84 total construction projects citywide that are in proposal to completion status, 23 are residential and another 20 are mixed-use properties that will support residences and commercial offices or retail stores.

According to a Q1 2019 report by the Economic Development Office, that breaks down to 1,331 residential units in development, 517 under construction and 12 completed for a total of 1,860. That is a lot of inventory for you to review if looking downtown for a great place to settle in Sarasota. The price ranges also from a penthouse suite in the new Grande, the Ritz-Carlton expansion in the development of the old Quay, to more modest residences in the Enclave at Laurel Park. Here are three prominent development sites downtown.

Ritz-Carlton in downtown Sarasota
The Grande - The view from the current Ritz-Carlton

The Grande is one of the first developments in the Quay, poised to make a statement in the world of real estate. Its connection to the Ritz-Carlton by ownership and an eventual physical elevated bridge link will provide its owners with luxury pleasures that Ritz owners come to expect. It is a mixed use development with 72 residences, restaurants and parking garage space for 159 cars, enough for two parking spots for every home owner. Select from a choice of seven floor plans, from a two-bedroom, 3,197 square-foot Plaza 301 plan to the Worthington with four bedrooms and 4,855 square feet of living space.

I have one of the penthouses pending, there is a second one active listed for $6.2 million with four bedrooms, five full baths and a spacious 4,855 square feet of living space. But there are seven other residences available from the fourth floor to the 16th floor of the 18-story building. The views are spectacular of the Sarasota Bay and the amenities are first-rate Ritz-Carlton class. That includes concierge services, a roof-top infinity pool and a state of the art fitness center. The Grande is also marketed as Block 6 of the Quay and Quay Commons. If your plans are for a late 2020 occupancy, the Grande is one of your best options in luxury ownership.

BLVD in downtown Sarasota
BLVD - This 37 residence pet-friendly community is expected to be completed early in 2020.

Across Tamiami Trail and up a couple of blocks, the BLVD Sarasota (aka Boulevard Sarasota) is rapidly approaching its 18-story finished structure. It is also a mixed-use development of residences with a Beach Bistro restaurant and space for retail shops or offices. It is expected to be completed early next year. The BLVD has some unique features not available in other developments. For the golfer, there is a simulator with over 80 courses to play. This is a pet-friendly community with its own pet salon and fifth-floor dog park. Add to that that such amenities as the roof-top infinity pool, outdoor kitchen and fire pits. Its Peloton enhanced fitness center is state of the art.

These three-bedroom residences have floor plans of B, L, V and D, which should be easy to remember. The B plan has a spacious wraparound terrace of 1,700 square feet and 3,630 square feet of living space. The largest floor plan is L, at 3,900 square feet under air. The V and D plans have 3,700 square feet and 3,550 square feet respectively with the blvD plan under construction with a wraparound terrace of 1,530 square feet. There are three active sales of the 37 residences at BLVD.

The Mark in downtown Sarasota
The Mark - This structure is nearing completion in downtown Sarasota with Main Street in the foreground

Off the water a couple blocks in the heart of downtown is The Mark with 157 residences in an 11 story community development. There are multiple floor plans associated to the Plaza, Edge and Landmark 5 residences. Near Main Street and Pineapple Avenue on State Street, this dream location is near everything great that Sarasota has to offer including its restaurants, art galleries, shopping and entertainment venues. Surrounding the lap pool are private cabanas and fire pit lounge area. The 13 penthouses are under contract. This project is nearing completion and has just one active listing in MLS at $925,000, a fifth-floor residence #516. There may be others available, call our office at (941) 387-1840 for a full list or if you have a property to sell or buy. I will be updating the New Construction page of our website this week that has a comprehensive list of projects.

There is a significant update on the Colony development of Longboat Key. In the last couple of weeks the court has decided that it will allow Unicorp Development Co. to submit plans for the dissolution of the Colony Association of Unit Owners, one of the final hurdles to proceed with developing the 17.3 acre site where the famous Colony Beach and Tennis Resort once stood. A final court decision is expected in April of 2020. Plans call for 78 luxury residences and a hotel with 166 rooms operated by St. Regis Hotel and Residences, including luxury services for its guests.

 

Call us at (941) 387-1840 for an exclusive showing

 

Ring in October and 2018-19 season

by Roger Pettingell

Changes as we approach peak season

Updated information on construction, quarterly figures and new listings

Peak Season listings in REALTALK™ #182
The strategy for new listings as we head into the "shoulder" season, discussed in REALTALK™ #182

After 35 years selling real estate on Longboat Key and Sarasota we have learned a thing or two about setting up for peak season which begins in October. At present the inventory is low but I have a good feeling that is about to change for the better. We have signed a number of listing contracts that will offer a good variety of single-family homes and residences. We will also have a good price range for buyers.

The housing market is faring well too. The Florida Realtors trade group released its second quarter figures for Manatee and Sarasota counties, reporting that median price of single-family homes rose 5.4 percent to $294,990 and residences rose 6.6 percent to $218,000. There are other significant trends for happy home owners. The Longboat Key budget is to pass its fiscal year budget today with no recommended increases in property taxes.

Longboat Club Road guard gate construction
First Phase for new Longboat resort hotel - A realignment of Longboat Club Road and new guard gate is expected to be completed by Thanksgiving

Inventory is also looking upward with the development of the Longboat Key residences that are currently underway. Your first drive from the south on Gulf of Mexico will have this progress in full view, new roadwork to reroute Longboat Club Road by the Chart House Restaurant and our office. This will pave the way for Ocean Properties and its 90 new residences with 250 hotel room complex. A short drive north and you will see the demolition of the old Colony Beach and Tennis Resort. In its place will be 78 condominiums and 166 hotel rooms operated by the prestigious St. Regis company. Travel to the mainland to Tamiami Trail and you will also see the ground broken for the redevelopment of the Quay area in downtown Sarasota, beginning with a new Ritz-Carlton building and 73 new residences that will be connected to the existing Ritz-Carlton by an overhead walking bridge.

A preview of some of the $40 Million in 21 new listings by Halloween

Here is a preview of homes that I have coming onto the market, some as early as next week. The first is a waterfront home with direct bay access in beautiful Cherokee Park on the south end of Sarasota, close to downtown at 1509 South Lodge Drive. This spacious 4BR/5BA home with 5,800 square feet of living space built in 2005 will list at $4,995,000.

1509 South Lodge Drive
1509 South Lodge Drive - $4,995,000

Another home with a lot of space and bedrooms will go on sale next week has 10,335 square feet of living space, with plenty of bedroom space for family and friends with 7 bedrooms and 8 bathroom. It is another newer built home in 2000 listing for $3,995,000 at 1744 Seminole Drive in the Sarasota community of McClellan Park. A home in San Remo Estates at 1363 Tangier Way is a 3 bedroom home with 3 full baths and 2,899 square feet of living space set for the market at $2,995,000.

I have three homes in different areas coming on the market in the $800,000 range. On Longboat Key in Country Club Shores, listing at $895,000 is a 3 bedroom and 3 bath home on the canal with 1,918 square feet of living space. Country Club Shores has always been a community with good valued homes. Returning to Sarasota, this single-family home at 76 Osprey Point Drive in the Oaks is a light and bright 3 bedroom home with 5 bedrooms and spacious 4,364 square feet that I featured in my REALTALK™ #180 video last week, a discussion of the Oaks Bayside. It will list as a good value home for $849,000. The third home in this price range is at 4646 Hidden Forest Drive, with 4 bedrooms, 3 baths and 3,472 square feet of living space priced at $779,000.

415 L’Ambiance Dr, #C604
415 L’Ambiance Dr, #C604 - $2,395,000

If you like the maintenance-free lifestyle that a condominium presents, I have you covered there too. These three residences offer high quality living on the Gulf of Mexico sandy white beaches, where the amenities are many and the sunsets that will take your breath away. Built in 1992 L’Ambiance on the southern end of Longboat Key combine luxury with many amenities in a great location. The 2 bedroom, 3 Bath residence with 2,820 square feet, Gulf and Links on Longboat golf views in a Sabal floor plan at 415 L’Ambiance Dr, #C604, listing for $2,395,000. Just a short drive up Longboat Club Road is a residence with many of the similar amenities on the Gulf at 535 Sanctuary Drive, #B705. This 3 bedroom, 3 bath residence will list for $1,499,000. Near the heart of Longboat Key shopping with a Publix and CVS is the residence at 2675 Gulf of Mexico Dr, #501 in the Veinte community which will list for $1,250,000. On the beach, what more could you ask?

Check our website in the next weeks as these and other listings will return to the market. With any of these listings coming on the market soon, please contact me at (941) 387-1840 for an exclusive showing this week before they go on the market.

 

Call us at (941) 387-1840 for an exclusive showing

 

Construction update on three projects

by Roger Pettingell

Two projects start, one in limbo

Quay, Resort at Longboat Key Club and Colony construction updates

New Quay project in Sarasota
Quay Rendering - A total of 695 residences in Sarasota planned for this mixed-use property downtown

Ground has been broken recently for two major hotel and residence projects that will significantly raise mixed-use property in the area. A more than symbolic groundbreaking off Tamiami Trail in downtown Sarasota sets in motion a series of development for the old Quay property. A diversion of the road around our offices and the Chart House will make room for the planned expansion of the Resort at the Longboat Key Club. And yet there is a third still in limbo, the old Colony Beach & Tennis Resort residences on Longboat Key.

Last Wednesday developers GreenPointe Communities LLC of Jacksonville staged a ceremony with city planners and high school students on the mostly vacant grounds, just north of the new Vue residences, to set in motion construction of residences, offices, retail shops and hotel rooms on the old Quay grounds.

GreenPointe purchased the 15-acre land in 2014 and have put forth different designs to city planners. Each incorporated the waterfront as a focal point for visitors and owners. The city had approved 695 residences to be available for this project and GreenPointe has incorporated those units into their plans. The company last year announced plans to use 73 of those units for The Grande, an 18-story building that will connect to the next-door Ritz-Carlton through an elevated walking bridge. A restaurant and parking garage are also planned for The Grande.

At the center of the Quay project is the Broadway Apartments building renovation of 20 units that was opened in 1925. It was later named Belle Haven and was included on the National Register of Historic Places in 1984. That year the apartments were repurposed for use as office space. GreenPointe has made public comments that they plan to use the offices, then renovate and repurpose Belle Haven again for this project.

The groundbreaking on May 23 was a signal for construction crews to begin work on the horizontal ground structures that buildings are planned. A second groundbreaking is planned for that phase of the project. In all, eight blocks will be built around Belle Haven in different phases with a build-out date for The Grande at 2020. But first, GreenPointe made an agreement with the city to complete a roundabout traffic circle at the intersection of Fruitville Road and Tamiami Trail. The total project calls for the following:

  • 695 residences
  • 175 hotel rooms
  • Nearly 40,000 square feet of office space
  • Nearly 190,000 square feet of retail shops
  • Marina
  • Parking spaces
  • Roundabout at the intersection of Fruitville Road and Tamiami Trail

Plans for the Van Wezel Performing Arts Hall are in debate. It is an entertainment venue with 1,736 seats that exists just north of the Quay on the bayfront. It is an icon for Sarasota but the big lavender building on the bayfront has its defenders in a debate with a side opposing its use in the current plans. Its color was picked out by the wife of Frank Lloyd Wright, the famous architect of the time. Entertainers from around the world perform at the Van Wezel. In the original bayfront plans, the building was to be demolished and replaced. Other options include complete demolition and use the land for different purposes. The Sarasota Bayfront Planning Organization has yet to issue its decision.

Longboat Key Club Resort begins its expansion

Resort at Longboat Key Club
Rerouting of Longboat Club Road has begun

In order to make space for the planned expansion of the Resort at Longboat Key Club, the Longboat Club Road required a reroute that is to run directly through the driving range at the Links on Longboat, formerly Islandside Golf Course. That work has begun following the planning and zoning board approval of the driving range and cart barn move to a more northern spot. It was a change originally approved by the board in December. A new Pro Shop is planned within the next two years that will be adjacent to the cart barn. The company has already brought in plants for the project and preparing them on one of the unused tennis courts.

All this is in preparation for the planned hotel that was approved by voters in a referendum in 2015. The referendum will allow the Longboat Key Club to convert 300 residences to tourism units to be used for the 259 unit hotel. Hotel plans also call for 10 to 12 more meeting rooms. A left-turn lane off Longboat Club Road will be constructed before the guard gate to help with traffic flow for hotel guests. Ocean Properties, the hotel management and development company of the Longboat Key Club, has not publicly announced a build-out date.

Developer faces off against owners at Colony Beach & Tennis Resort

Longboat Observer update
Colony Beach & Tennis Resort - Developers faced with obstacles to develop the abandoned property.

Unicorp National Developments and its chief Chuck Whittall are trying to develop the abandoned Colony Beach & Tennis Resort they purchased in 2014. The property has gone through voter rejection of an original plan of planned usage and final approval from the planning and zoning board this year of a change to a 166-room hotel with 78 luxury residences. A spa and ballroom are among the amenities planned for the resort. It will be operated by St. Regis, a management company of five-star hotels including the Starwood Hotels & Resorts brand.

But there are still owners of some of the condominiums and beach townhouses of the original Colony that are willing to fight in court to keep their property. They have rejected purchase offers from Unicorp. Even the existence of a Colony Beach & Tennis Association stalls the project, it must be disbanded first to continue. As it stands, the Colony continues to deteriorate causing a nuisance for Longboat Key.

I hope you are having a good Memorial Day and the rains haven’t dampened your plans. Last week I listed a Beachplace residence in building 10. It is a light and open layout with three spacious bedrooms, an eat-in kitchen with granite countertops and stainless-steel appliances, plus almost 2,000-square-feet of interior. Please contact me at (941) 387-1840 for an exclusive showing or if you have a property to sell or buy.

Address List Price Media Slideshow
1065 Gulf of Mexico Dr, #105 $715,000   Photo Slideshow

 

Call us at (941) 387-1840 for an exclusive showing

 

New community developments

by Roger Pettingell

Updates and new developments added

4,000 new downtown Sarasota residences are completed or planned

New condominium construction in downtown Sarasota
Construction - A new downtown skyline is emerging that is different than in this photo taken on Tamiami Trail in 2016 that shows the Embassy Hotel and Vue

The residence construction page on our website tracks new community developments that are in the planning, under construction and recently completed stages. Currently there are 41 new developments on the list from Venice to Bradenton. There is a brief description, photo and more information on listings if they are in the Multiple Listing Service. There is contact information to reserve a unit if they are not in MLS. When available there is a link for more information and floor plans.

The Sarasota Herald-Tribune this month reported that 4,000 new residences are completed or planned in the Sarasota downtown area. In that total are units planned on the existing Quay site, just north of the Ritz-Carlton, that may take a decade to complete. On the new construction page I added 11 new communities last week. These new developments will add 1,664 of residence inventory, the boom is continuing in Sarasota.

And infrastructure continues to improve to support these new structures at Tamiami Trail and Ringling Boulevard. An extra lane was added to turn left on Tamiami coming off the bridge from Bird and Lido keys. A roundabout is planned at the Fruitville intersection one block to the north that will support additional traffic created by new residents of the VUE, Quay and Golden Gate Point. Additional lanes are in progress for Tamiami Trail heading north out of town.

BLVD Sarasota
BLVD Sarasota will have 51 luxury residences

Groundbreaking is expected within the next couple of months for 51 luxury residences in 18 stories in the BLVD Sarasota at 540 N. Tamiami Trail downtown on the old CoCentrix property. Developers want new owners of these residences to have everything they need in one building with entertainment, restaurant, dog park and rooftop infinity pool. There are four different floor plans ranging in size from 3,550 to 3,900 square feet of living space. Currently there are three listings in MLS with an expected move-in date in 2019.

Across the street on Tamiami Trail, The Grande is expected to be the first residence building on the vacant Quay lot. Planned by the developers of the recently completed VUE Sarasota Westin Hotel and residences, the Kolter Group of West Palm Beach will lead the Quay development and extend the amenities of the Ritz-Carlton through an elevated pedestrian bridge connecting the two communities. They are now accepting reservations but there is no completion date set for The Grande. Plans are to use 73 of the 695 total residences approved for the Quay property. It will be another 18-story complex with room for a 9,500 square-foot restaurant. In February it was announced that Ashford Hospitality Prime Inc. of Dallas purchased the Ritz-Carlton Sarasota, beach club on Lido Key and the Ritz-Carlton member golf course on University Parkway.

One of the newest communities announced in downtown Sarasota is 605 Gulfstream. Reservations will open next month and advertising is ongoing with information about this new building. In a press release by Seaward Development, the floor plans and common areas are inspired by the infamous Sarasota School of Architecture and the firm of Nichols, Brosch, Wurst, Wolfe & Associates. There will be private elevator access to the 24 half and full-floor residences. Amenities are to include an oversized lap pool, wellness center and rooftop terrace.

Whitaker Lofts in Sarasota
Whitaker Lofts - Modernistic design for 21 residences near Whitaker Gateway Park and Rosemary District

Yet another community of 21 residences on Tamiami Trail downtown is an announcement from the AIA Tampa Bay Firm of the Year in 2016, Halflants + Pichette Studio for Modern Architecture. This planned community, Whitaker Lofts, near Whitaker Gateway Park and the resurging Rosemary District does not have a completion date set. The two story units of 1,500 square feet will have a private rooftop terrace in this modernistic designed building.

Another Rosemary District enclave was announced for 1st and Audubon, with 32 townhomes south of 1st Street in Sarasota. Icon Residential from Tampa is the developer of these homes that have two-car garages and rooftop terraces. The company has not listed a start or completion date.

Plans are moving forward in other areas around Sarasota too. On Friday the Longboat Key town commission approved development of the vacant site of the old Colony Beach & Tennis Resort, shuttered for over a decade. The commission approved the 166 room luxury St. Regis hotel and 78 condominium community on the 17.6 acre site. With the vote the complex will drain the tourism pool of units created by a referendum of Longboat Key voters, but a hint of adding more with another referendum will be introduced to voters at a future date.

Lakewood National Golf and Country Club
Lakewood National Golf and Country Club

Large community development is underway in Lakewood Ranch and Bradenton. Under construction are 1,100 residences built around a 36-hole championship golf course designed by Arnold Palmer at The Lakewood National Golf and Country Club. A development project of 207 residences that started in 2015 is nearing completion at the Palma Sola Bay Club in Bradenton. And the theme of Jimmy Buffett’s Margaritaville casual lifestyle at Harbour Isle is set for the 132-unit complex on Perico Island at 12300 Manatee Avenue, Bradenton. Floor plans of two and three bedrooms are listed and owners have access to an on-site deep-water marina.

Reservations this year will open for four residences on Lido Key at St Armands Place. Each four-bedroom residence will have 2,742 square feet of living space, three outdoor terraces and five-car garages. The Oceane residences on Siesta Key has active listings for its six luxury floor plans of four bedrooms each and two or three car garages. Completion is set for the summer of 2019. Views of Venice Beach is the lifestyle set for 15 two-bedroom luxury units at Che Vista. A room listed as a den can be converted to a third bedroom.

I added three new listings to my inventory of homes and condominiums for sale. Harbor Acres is an enclave of luxury homes and my listing at 1352 Harbor Drive is a wonderful example of living the good lifestyle on the Sarasota Bay waterfront. A seventh-floor Carlyle floor plan residence at 535 Sanctuary Dr, #C707 overlooks the Gulf of Mexico, with Sarasota bay and city views, ready for your enjoyment. The third is a beautifully updated and charming two-bedroom residence at 603 Longboat Club Rd, #504N, Longboat Key Towers. Please contact me at (941) 387-1840 for an exclusive showing or if you have a property to sell or buy.

Address List Price Media Slideshow
1352 Harbor Drive $3,795,000 Video Photo Slideshow
535 Sanctuary Dr, #C707 $1,499,000   Photo Slideshow
603 Longboat Club Rd, #504N $999,000   Photo Slideshow

 

Call us at (941) 387-1840 for an exclusive showing

 

New Construction Updates

by Roger Pettingell

Sarasota and Longboat Key Updates

Over One-half Billion Dollars in Construction Reported

The Jewel condos for sale
The Jewel - Rising above Sarasota are 17 stories of residential condominiums, just left of the crane.

When I took a tour of the Jewel last week I was reminded of all the new construction in Sarasota and on Longboat Key. As we reached the upper floors, decked out in hard hat, goggles and vest, I could see over Sarasota for a bird’s eye view of the cranes. The Jewel is sure to be one of the tallest buildings in the city when completion is expected in the fall. For sale in the Jewel is a 17th floor penthouse listed at $4 million, a magnificent residence with 12-foot ceilings and 360 degree view of the city. Retail stores will line the streets of Main and Gulfstream at the entrance of the Jewel. Developer Tom Mannausa filed a $19 million construction permit with the city last year at this time for this property so crews have been busy to get this ready for autumn occupancy.

Over $500 million in construction projects are planned or in progress, announced by the city of Sarasota economic development organization. The Downtown Community Redevelopment Authority (CRA) tracks the construction within a boundary of approximately one square mile. Included in their reports are hotels, residences and mixed use projects over $500,000 each. All in all, there will be 1,548 residential condominiums and townhouses added to the area when all the projects are completed. This represents new inventory that is available for sale, reservations can be made by contacting our office at (941) 387-1840.

REALTALK™ #52 new construction
Roger discusses new construction for sale in Sarasota with guest Amy Drake on July 1, 2015.

Another 18-story building at 621 Gulfstream Avenue with 17 residences by developer, The Ronto Group, is in the pre-application stage. Sansara, nearby on Pineapple Avenue, will also house 17 residences, has its foundation permit issued. A few properties remain available at Sansara, which should be ready to move in by spring 2016.

Steel framing Is completed for One Palm Avenue at the corner of Palm Avenue and Ringling Boulevard. With a construction value over $31 million, this building will have 139 residences, 138 hotel rooms, a restaurant and 6,000 square feet of retail space. The DeMarcay on Palm Avenue is in the planning stages for 39 more residences. Also in planning stages are the Sarasota Marriott Hotel & Condominiums with 40 residences planned and 200 hotel rooms.

Phases one through four and seven are under construction at the “Q”, with 39 condominiums at 1750 Ringling Boulevard. Applications are pending for phases five and six. The Sarasota Flats is awaiting approval this week from the planning board that will include 228 residences at 1404 Fruitville Road.

Vue Sarasota
Vue Sarasota will open its hotel rooms in 2016.

While at the Jewel you can’t help notice one of the biggest projects in Sarasota at the corner of Tamiami Trail and the Ringling Causeway, next door to the Ritz-Carlton. With a construction value of $120 million, a 255 Westin hotel is expected to be completed by fall of 2016. A residential tower is planned at Vue Sarasota with over half of the 141 properties already sold. Starting at a list price of $800,000, floor plans begin at 1,645 square feet for a 2BR/2.5BA residence and extend to an incredible 3,415 square foot penthouse. Besides commercial retail space, a 14,000 square foot ballroom is planned with two junior ballrooms averaging 5,500 square feet.

Another major project is planned for the site of the old Quay property. City planners are requiring that this project be completed before January 30 of 2017 for approval. This construction is expected to have 695 residences and 175 hotel rooms. The massive lot is vacant just north of Sarasota Vue on Tamiami Trail.

ONE88 on Golden Gate Point is nearing completion, ready for occupancy this summer. Golden Gate Point is outside of CRA tracking.

Longboat Key is also outside of the CRA. I had a good conversation with Mark Bolduc of Wicked Smart Homes a couple weeks ago for REALTALK™ #42. Not only was his company responsible for the smart home at 350 Harbor Gate Way where we recorded the episode, Wicked Smart Homes also designed the integrated technology for the 11 residences at Infinity of Longboat Key. Infinity has listed a 5,500 square foot penthouse for sale at $5.5 million. Sales have been brisk for this beachfront property. Another property with 3,638 square feet of luxury living space is available for a $3.3 million listing price.

Aria Villa am Meer on Longboat Key
Aria - Built on the grounds of the restored historic Villa am Meer residence.

Progress is continuing on Aria on the historic land of the Villa am Meer estate at 2251 Gulf of Mexico Drive. Villa am Meer was the Longboat Key gem property in 1935 and construction of Aria will highlight the original home there, restored on this five-acre site with walking paths and many other amenities on the Gulf of Mexico shoreline. Pictured on the right is the concrete shell for the 16 luxury waterfront residences, recently photographed through the gates of the historic property.

Please contact me at (941) 387-1840 if you are interested in any of these properties above. March was a good month for closing 10 properties listed here.

Address Sold Price BR/BA Photo Slideshow
602 S. Owl Dr, Bird Key $4,550,000 4/4.5 Photo Slideshow
13506 Matanzas Pl, Lakewood Ranch $1,670,000 4/3.5  
1055 Gulf of Mexico Dr, #106 $1,200,000 3/2 Photo Slideshow
511 Bowsprit Lane, Longboat Key $935,000 3/2  
573 Bird Key Dr, Bird Key $890,000 4/3.5 Photo Slideshow
5860 Gulf of Mexico Dr, Longboat Key $800,000 Lot Photo Slideshow
2016 Harbourside Dr #344/345 $775,000 3/3  
1701 Gulf of Mexico Dr, #603, Longboat Key $545,000 3/3 Photo Slideshow
7105 Gulf of Mexico Dr, #12, Longboat Key $450,000 2/2  
1411 Southbay Dr, Osprey $430,000 3/2  

 

Sarasota New Construction Updates

by Roger Pettingell

Projects Moving Forward in the Area

Sarasota Downtown CRA Report Updated

Sarasota Downtown Community Redevelopment Area (CRA)
Sarasota Downtown Community Redevelopment Authority Area (CRA) with 29 new projects in construction or development mapped out.

I hope your holiday season is a good one. This is the last week of the year and my last Monday article for the year. It’s good we end 2014 on a high note with the new construction of condominiums in Sarasota and on Longboat Key.

Sarasota released its current status this month for the Downtown Community Redevelopment Area (CRA), approximately one square mile of land area. There are 29 projects over one half of a million dollars within the boundary that begins at 10th Street on the north, with many of the projects between Pineapple Avenue on the east to Sarasota Bay on the west. These are projects that are currently in construction or in development and reflect a total estimated cost of one half a billion dollars.

This area represents a bonanza for residential purchases, unlike anything we have seen since 2006. The estimate is that there will 1,434 new residential condominiums and townhouses when all the projects are completed. The update also reported nearly 1,000 rental apartments, over 1,000 hotel rooms and over a quarter million square feet of commercial space will be added in this downtown area.

The first completion date is the fall of 2015 when the Jewel is expected to be ready for occupancy. The Jewel is an 18-story commercial high-rise with 19 residential condominiums for sale at the corner of Main Street and Gulfstream Avenue, within a short walking distance to the water’s edge and Marina Jack, next to Café Epicure.

The "Vue Sarasota Bay", near the Ritz-Carlton on this high profile plot of land at Route 41 is well under way with 141 residences expected upon completion in the winter of 2016. The CRA also reported the Quay, an amazing undertaking near Vue Sarasota Bay. It was announced this month that an agreement with developers GreenPointe Communities of Jacksonville requires a completion date of January 30, 2017 for the Quay with plans for 175 hotel rooms, 38,972 square feet of office space and 189,050 square feet of commercial space. The mostly 15-acre vacant land has been the subject of foreclosures and speculation. Moving forward the Quay will be a major project that will include 695 residential condominiums

ONE88 Residences on Golden Gate Point in construction
ONE88 Residences - Eight residences are in process on Golden Gate Point overlooking Sarasota Bay.

ONE88 Residences overlooking the John Ringling Causeway bridge and Sarasota Bay is nearest completion, possibly in March of 2015. It is located on Golden Gate Point and not included in the CRA report. However, it is also within a short walk to Marina Jack, downtown restaurants, shopping and nightlife of Sarasota. Its eight condominiums start at $2.59 million for a suite over 3,000 square feet under air. Two penthouse suites offer 575 square feet of west balcony square footage on the fourth floor and a rooftop area of 1,657 square feet, for a total of 5,447. A community pool with deck extends out to the Sarasota Bay and boat docks. Sunset views should be stunning when ONE88 Residences is completed.

December also was witness to the groundbreaking of INFINITY on Longboat Key. Architect Mark Sultana in Sarasota led the design of 11 residences at 4765 Gulf of Mexico Drive expected to be completed in January of 2016. Three and four bedroom units starting at 3,380 square feet of living space, with two penthouses of 6,370 square feet are for sale and can be purchased through our office.

Construction of the Aria at 2251 Gulf of Mexico Drive is also proceeding on the grounds of the historic Villa am Meer estate, a home built in 1935 by the architect of the Ringling Museum of Art. Nearly one million will be spent to restore the home as a club for the residents of the 16 condominiums now under construction.

The new construction provides an exciting time for downtown Sarasota and keys residential development. It is another step in fulfilling the dreams of John Ringling and Owen Burns, who collaborated in the 1920s to establish this area for major land development. Look for more updates to the developments planned in Sarasota and on Longboat Key.

I have over $67.5 million in residential sales for 2014. Let me put my experience to work for you, call me today for your exclusive tour, (941) 387-1840. We wish you and your family the best for the holidays and happy new year.

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Roger Pettingell?

Experience

  • Over 33 years as a top producing REALTOR® on Longboat Key and in Sarasota.

Achievements

  • Number 1 single Coldwell Banker agent in all of Florida for 2008, 2010, 2012, 2013, 2014, 2015, 2016 and 2017
  • Number 1 Realtor on Longboat Key and Bird Key for 2008, 2010, 2012, 2013, 2014, 2015, 2016, 2017 and 2018
  • Number 1 Realtor for all Sarasota in 2008, 2010, 2012, 2013, 2014, 2015, 2016, 2017 and 2018
  • Coldwell Banker Society of Excellence award in 2013, 2014 and 2016
  • Ranked among the top 250 agents in the country for 2014, 2016 and 2017 by REAL Trends as reported in the Wall Street Journal.

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About Roger Pettingell

Roger Pettingell of Coldwell Banker Residential Real Estate is your Longboat Key, Florida Luxury Real Estate Specialist. Roger provides his real estate expertise to sellers, investors, developers, and buyers in the Sarasota area including Anna Maria, Bird Key, Bradenton Beach, Casey Key, Cortez, Grand Bay, Holmes Beach, Longboat Key, Marina Bay, Osprey and Siesta Key. Search for homes, luxury homes, condominiums, investment property, development property, and vacant land and lots on the Longboat Key, Florida and the surrounding area.