New Luxury Tower Planned for Golden Gate Point

October 1, 2018 by

Golden Gate PointAnother new luxury condominium tower is in the works for exclusive Golden Gate Point.

Replacing what was initially proposed to be the Allure townhome project on the same site, Evolution is planned as an eight-story, 20-unit tower, along with a rooftop terrace at 111 Golden Gate Point. Residential units will range from 2,071 square feet to 3,519 square feet for penthouse residences, and the condos are expected to retail between $1.3 million and $3+ million.

The 0.83-acre parcel is the largest remaining open lot in the waterfront residential district, located west of downtown near the John Ringling Causeway.

The developer filed an application with Sarasota officials on the tower late last month, according to a story in the Sarasota Observer, sister paper of the Business Observer.

Designed by DSDG Architects LLC, Evolution will offer each residence floor-to-ceiling windows, large terraces and a private garage. Evolution will have first level parking –  42 spaces — two per unit, and an additional two guest spaces.

An on-site sales office, say the project developers, is expected to be open by the end of 2018, where guests can also reserve pre-construction units. The project is expected to break ground in the first quarter of 2019

 “We’ve had an eye on this beautiful lot, the largest remaining redevelopment opportunity on Golden Gate Point, for quite a while and now is the perfect time to convert the space into luxury homes,” says WB Golden Gate Point LLC Principal Wojciech Zukiewicz in the statement. “We’re very excited to be working with DSDG Architects to create something truly unique for the Sarasota luxury landscape.”

Golden Gate Point has seen a surge of new construction in recent years. Until the 1990s, the peninsula was covered with small, two-story rental apartment buildings, but most have been torn down to make room for luxury high rise projects.

Sarasota Observer, Business Observer – September 27, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate Tagged With: , , ,

Kolter Group Begins on Ritz-Carlton Residences Tower

September 16, 2018 by

Ritz-CarltonThe Kolter Group has officially begun construction of the Ritz-Carlton Residences condominium tower in downtown Sarasota, which its backers contend will be the “pinnacle of Sarasota living.”

The 73-unit waterfront tower, adjacent to the 18-story Ritz-Carlton Sarasota hotel and condos and part of the 15-acre Quay Sarasota mixed-use project, is scheduled for completion in the fourth quarter of 2020.

To date, 29 of the residences in the SB Architects-designed tower have either been reserved or sold, generating $105 million in sales, says John Harper, a Kolter Urban senior project manager.

“This is going to be the most magnificent luxury building on the west coast of Florida,” says Harper, during a morning ground breaking ceremony on site. “For residents, it will be an indelible experience.”

The residences, measuring 3,200 square feet to 6,100 square feet, exclusive of terrace space, will feature private elevators and “flow through” views of the water and the city’s skyline. Each is priced from $2.5 million to $5 million.

In addition, each unit will have access to 24-hour concierge services affiliated with the 266-room Ritz-Carlton Hotel, together with amenities like the resort’s beach club on Lido Key and 18-hole golf course near Lakewood Ranch. Owners also will be able to join the resort’s Members Club.

“The quality services being provided are really a large part of what’s driving this project forward,” says Michael Saunders, founder and CEO of real estate brokerage Michael Saunders & Co., the listing agent for the tower.

“Every day will be a red-carpet day at the Ritz-Carlton Residences,” adds Saunders, whose firm also sold the condo units associated with the hotel nearly two decades ago. “What does red carpet mean? It means the best of the best.”

The building’s amenities will include a resort-style swimming pool, fitness center, clubhouse, pool bar, demonstration kitchen and private dog park.

Rick Harcrow, regional president of Jacksonville-based GreenPointe Communities, says the new Ritz-Carlton Residences will be a “signature building” that will be the “most special parcel of this entire project.”

“I can’t think of two better brands to launch the Quay Sarasota than Kolter and the Ritz-Carlton,” Harcrow says of the $1 billion, mixed-use Quay.

Kolter acquired the roughly one-acre tract for the Ritz-Carlton Residences earlier this year for $19.3 million.

“Sarasota is a city that deserves the very best,” says Bob Vail, Kolter Urban’s president. “The Ritz-Carlton Residences will be the next chapter in luxury living here.”

Observer Sarasota, September 13, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate, Sarasota New Construction Tagged With: , , ,

Sarasota Luxury Market at the Top in the Nation

August 20, 2018 by

Sarasota Luxury MarketSouthwest Florida — the Sarasota metro area in particular — has a reputation for its wealth of gold-plated residences. The latest Luxury Home Index from realtor.com validates that celebrity status, or, from another viewpoint, notoriety.

In the site’s May report of the top 10 fastest-growing U.S. luxury markets nationwide, the Sarasota-Manatee market stood atop the list. Collier County, near Naples, came in third in the rankings of the percentage increase of the top 5 percent of the most expensive home-sales prices.

The overall transaction total doesn’t matter. Sarasota’s entry-level luxury price rose 19.1 percent year over year, reaching $993,000,

Whether that sales price merits the luxury label is debatable. By many measures, a home’s sales price must reach at least $1 million before entering the so-called luxury market. But who’s quibbling over Sarasota falling $7,000 short?

Roger Pettingell, a luxury waterfront specialist with Coldwell Banker Residential Real Estate, cites two price points for opulent status.

“Coldwell Banker’s starting price for what we consider a Global Luxury listing is $1.2 million,” he said this week. “More anecdotally, I consider a luxury Sarasota property to be one which is priced over $3 million.”

Let’s stick with that higher figure, since many a million-dollar home on the water ranks as a tear-down. Plus, there are a lot of $3 million homes on the market, 129 to be exact. The top dog comes with a whopping $19.5 million price tag. That’s 19,300 square feet at $3,884.57 for one square.

Of the 79 that recently sold, the highest sale reached $9 million for 9,202 square feet, and that’s with an $800,000 cut-off list. That’s also thousands more per square foot — $6,448.41.

The average and median list price of all those $3 mil-plus homes stand at more than $5 million. The median closing, though, was $3.6 million.

Luxury homes, luxury prices, indeed.

The lowest on the market and sold went for exactly $3 million each, a veritable bargain at a mere $428.41 per square foot.

Michael Saunders & Co. currently has 45 active listings in the $3 million-plus range. Last month countywide, sales of seven homes in that price category were closed, a 75 percent increase over the four in May 2017, said Samantha Emelock, a Saunders communications specialist.

Saunders recently closed on two big sales in Sarasota, at $7 million and $5.4 million.

Collier’s $1.65 million sales mark is only surpassed by three California counties, but the percentage increase for all three Silicon Valley counties did not beat Collier’s.

Prospective home buyers from northern states are propelling the two Florida markets, realtor.com reported, not residents trying to escape the super-heated West Coast.

“Luxury prices in the Sunshine State are rising quickly as buyers from places like New York, Boston and Chicago get wind that there is a better bang for their buck available down South,” Javier Vivas, director of economic research for realtor.com, said in a news release. “Meanwhile, we’re seeing signs of a luxury-market glut in many established markets, which is in some cases leading to spillover demand for their less-pricey neighbors.”

No warning signs here.

“Is there a glut of luxury properties for sale?” asked Longboat Key-based Pettingell? “If you say a luxury property is any property over $3 million, there is less than a two-year supply of properties of $3 million.

“There is certainly not a glut of those premium, market-priced properties, which tend to sell much more quickly,” Pettingell said.

From Jan. 1, 2018, to date, Coldwell Banker in Sarasota has sold or held a contract on 25 properties over $3 million and Pettingell sold seven, said Laitin Schwerin, a senior public relations specialist in a Sarasota Coldwell Banker office. During that same time span in 2017, the company sold 20 properties in that price range, and Pettingell sold six.

Apparently, if you list a luxury home, someone will come to buy.

Sarasota Herald-Tribune June 22, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Real Estate, Sarasota Luxury Real Estate Tagged With: , , ,

East of Trail Development Projects – Downtown Sarasota Real Estate

August 2, 2018 by

East of TrailProjects East of Trail are poised to begin construction soon.

Thirteen years after a developer originally proposed a residential complex on a School Avenue property across from Payne Park, construction is finally set to begin at the site later this summer.

The Payne Park Village project has been significantly scaled down from the first concepts, which called for 450 condominiums in buildings up to seven stories. Now under the ownership of a new company, David Weekley Homes, the plans for the 8.7-acre parcel include 135 attached and detached single-family homes between three and four stories.

Although the scope of the project may be reduced, the developer believes Payne Park Village can help reshape the segment of the city east of downtown.

Jimmy Oriol, the Sarasota division president for David Weekley Homes, said the company was excited to break ground in an area that has not yet been a hub for the same kind of growth taking place in other districts bordering the city’s center.

“We feel like it’s the next evolution, and we’re happy to be a part of the revitalization of that area,” Oriol said.

There may be reason to be bullish about the future of the area east of U.S. 301. Just northeast of the Payne Park Village site, another long-awaited project is prepared to begin construction soon. At the former home of the Ringling Shopping Center, the subject of the city’s contentious decisions to reject plans for a Walmart supercenter, a developer is set to start work on a 222-unit apartment complex.

Though the completion of both projects is still more than a year away, the prospect of adding more than 350 residential units could reshape the dynamics of the area.

Patrick Berman, a retail specialist with Cushman & Wakefield, is marketing the commercial parcels on the Ringling Shopping Center property at 2260 Ringling Blvd. He anticipates the introduction of more full-time residents into the area will have a noticeable effect.

“Once you start seeing some of these projects coming out of the ground and being occupied, the positive impact to those neighborhoods is immediate and demonstrative,” Berman said.

Even before these large projects begin construction, there have been signs of increased interest immediately east of downtown.

Tampa-based developer Icon Residential is constructing a 37-unit town home project at 41 N. School Ave., along the road’s intersection with Main Street. The company plans to follow that up with another 32 town homes on First Street between East Avenue and Audubon Place.

Two hotels are planned east of U.S. 301 between Fruitville Road and Ringling Boulevard. So is a 7,000-square-foot retail complex at 218 N. East Ave. It remains to be seen how many of these projects come to fruition, but Berman said it made sense for developers to seek a new frontier given the rate of activity downtown and in the Rosemary District.

“It’s a matter of supply and demand, where finding vacant zone-entitled lots are hard to come by,” Berman said. “Once the apartments begin construction, we’ll get an even better response.”

Oriol highlighted another potential project that could increase interest in the area — the possible extension of the Legacy Trail to Payne Park. In November, county voters will vote on a bond issue for the project. If it passes, Oriol anticipated the trail would be a meaningful catalyst for additional activity.

 

Sarasota Observer, July 26, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate Tagged With: , , ,

Work Begins on Sarasota Quay – Downtown Sarasota Real Estate

June 2, 2018 by

A new Sarasota Quay is underway. Finally.

Long-awaited bayfront development of residential, hotel and business units breaks ground.

Sarasota Quay

The developer’s goal is creating a place that will please the public and engage the waterfront. Those are some of the intangible goals of GreenPointe Communities LLC.

On Wednesday afternoon under mostly blue skies, the Jacksonville-based company staged an infrastructure groundbreaking ceremony at the 15-acre Quay Sarasota Waterfront District site with city commissioners and the mayor, Planning Board members, Booker High School students and others.

Before GreenPointe president Grady Miars addressed the gathering, he described the project in a Herald-Tribune interview.

The renovation and repurposing of the historic 1925 Belle Haven Apartment building on the site is a pivotal piece of the project, which is entitled to 695 residential units, 175 hotel rooms, 38,972 square feet of office space and 189,050 square feet of commercial space. The overall project represents a $1 billion investment from GreenPointe and other investors.

The Belle Haven, Miars said, is “considered to be the crown jewel of the development.”

“Right now, we’ve been actively working on the interior components, making sure that it’s suitable and stable, and then we’re going to refurbish it,” he said.

Sarasota City Manager Tom Barwin called the Belle Haven “one of the greatest buildings that has ever graced the bayfront.”

Initially, GreenPointe offices will be in the refurbished Belle Haven. Ultimately, though, the idea is to turn the structure into the central piece of the Quay, Miars said, “so it will be part of our placemaking effort.”

The project also calls for a public park leading to the waterfront, where docks will be available.

“What you’ll see in our development and in our infrastructure is it’s going to invite the public in to be able to utilize not only our central Quay and the facilities there, the retail, and also engage to the waterfront,” Miars said. “We feel that is very important.”

Rick Harcrow, GreenPointe’s regional president, said, “We dedicated ourselves to creating a special place.”

The company is coordinating plans with The Bay project directly to the north, the Sasaki design team and city officials. “We’re very much in support of what’s happening to our north,” he said of the bayfront redevelopment effort. “What’s happening around us has really evolved and has come a long way.”

Barwin appreciates the fact that the two major projects are coming to life together. “We’re especially excited it’s (the Quay) moving in tandem with the Bay,” he said.

Vertical construction is scheduled to begin this fall on a 73-unit, 18-story condominium tower called The Grande — complete with a restaurant. That work is expected to last two years.

If the national economy continues to perform well, Miars anticipates a five- to seven-year construction schedule for the entire project.

“Our expectations for the project is really what we set out for when we started in 2014,” Miars said, “to acquire a piece of land in the city of Sarasota in an area ripe for redevelopment and be able to intertwine ourselves into the fabric of Sarasota. Sarasota has so many great things that are going on, from the arts, the culture and the waterfront.

“This is one of those opportunities where we can seamlessly bridge in between those — and ultimately into downtown.”

City Commissioner Shelli Freeland Eddie applauded GreenPointe for seeking “community input at all stages of the project.”

She proposed that the company incorporate nearby Booker High School engineering and art students into the project in a shadowing program. Executives agreed immediately, she said in another interview. The collaboration will lead to job opportunities, she said. “We want to keep our best and brightest in our community.”

Pride plays a role, too. When those participating students drive by the Quay Sarasota in the future, they can say, “I had a part in that,” Freeland Eddie said.

Redevelopment plans for the 15-acre bayfront property began some 15 years ago. A few years after acquiring the land, the Irish investors leveled the old Sarasota Quay condo building in 2007. Bankruptcy and legal wrangling ended that effort and the site sat empty for years.

GreenPointe purchased the property in 2014 and now the first groundbreaking has occurred. Another will be held just ahead of vertical construction.

Sarasota Herald Tribune, May 23, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate, Sarasota New Construction Tagged With: , , , ,

Sarasota Real Estate Market Report – March 2018

May 2, 2018 by

Sarasota Real EstateLast month, the Sarasota-Manatee residential real estate market showed an increase in the number of closed sales and pending sales, a continuation in the rise of median prices and a drop in inventory levels.

Home buyers preferred condos and townhouses over single-family homes, a likely sign that snowbird season has been good for one sector of the residential market.

March condo sales rose 9.9 percent in Sarasota to 454 and 9.7 percent in Manatee to 284 year over year. As for single-family homes, Manatee sales fell 0.2 percent to 580, while Sarasota dropped 2.3 percent to 766.

Closed Sales
In the two-county metropolitan statistical area, closed sales for single-family homes and condos reached 5,015 properties so far this year, a 2.3 percent increase from this time last year. Comparing this past month to March 2017, statistics show a 1.4 percent drop in single-family home sales but a jump in condo sales of 9.8 percent.

“With the close of ‘season’ fast upon us, we are once again showing an increase in combined sales in both counties,” said Greg Owens, president of the Realtor Association of Sarasota and Manatee.

“Pending sales showed a combined 14.9 percent increase from February 2018 to March 2018,” he said. “This increase indicates a strong finish going into summer.”

Median Prices
Year over year, single-family median prices in Sarasota rose by 9.3 percent to $287,053 while Manatee dropped by 1.7 percent to $285,000. The median sales price for Manatee condos jumped by 15.1 percent to $201,500 and Sarasota condos increased by 4.3 percent to $240,000.

Combined, pending sales for single-family homes and condos increased by 4.9 percent from March 2017.

Inventory
The decline in new listings is another good indication of the selling season ending, the association said. The number of properties put on the market during March 2018 fell by 7.6 percent from 2017 in the two-county area. Combined inventory in the two-county area dropped by 14 percent from March 2017. Compared with last year, the supply of single-family homes decreased 15.4 percent, while that of condos fell 11.4 percent.

In single-family homes, Charlotte County showed a 2 percent increase in closed sales, to 411, a 10.2 percent jump in the median sales price and a 0.4 percent rise in pending sales. In townhouses and condos, closed sales jumped by 14.8 percent, the median sales price increased 10.8 percent to $176,250 and new pending sales rose 2.2 percent, to 139.

Florida’s Market

Across the state, March’s tight inventory constrained sales and pushed median prices higher, according to the latest housing data released by the Florida Realtors trade association. Closed sales fell by 3.5 percent, while median prices rose by 8.2 percent year over year.

The statewide median sales price for single-family existing homes last month was $250,800, up 8.2 percent from the previous year, while the statewide median price for townhouse-condo properties was $183,000, up 7 percent over the year-ago figure.

“As the ongoing supply of for-sale homes continues to tighten, it can create a cycle of frustration for home buyers, especially those trying to become a first-time homeowner,” said 2018 Florida Realtors President Christine Hansen, broker-owner with Century 21 Hansen Realty in Fort Lauderdale. “If move-up buyers can’t find a home in their desired price range, then they aren’t likely to leave their current home, which in turn makes entry-level properties even more scarce.

“Buyer demand is high, but the shortfall of inventory — particularly around $250,000 and under — is impacting affordability in many areas.”

March was the 75th consecutive month that the statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year.

National Numbers

Across the country, existing-home sales increased for the second consecutive month in March, but lagging inventory levels and affordability constraints kept sales activity below year ago levels, according to the National Association of Realtors. Despite the increase, March sales were still 1.2 percent below a year ago.

“The unwelcome news is that while the healthy economy is generating sustained interest in buying a home this spring, sales are lagging year ago levels because supply is woefully low and home prices keep climbing above what some would-be buyers can afford,” Lawrence Yun, NAR chief economist, said in a press release.

The median existing-home price for all housing types in March was $250,400, up 5.8 percent from March 2017 ($236,600). March’s price increase marks the 73rd straight month of year-over-year gains.

Housing affordability is down from a year ago and fewer households can afford the active inventory of homes currently for sale on the market based on their income. That is according to joint research from the National Association of Realtors and realtor.com, an online real estate destination.

Using data on mortgages, state and metro area income and listings on realtor.com, the Realtors Affordability Distribution Curve and Score is designed to examine affordability conditions at different income levels for all active inventory on the market. A score of one or higher generally suggests a market where homes for sale are more affordable to households in proportion to their income distribution.

According to March data, 35 metro areas had better affordability compared to a year earlier, led by Austin-Round Rock, Texas, (from 0.55 to 0.66), Syracuse, New York, (1.04 to 1.1) North Port-Sarasota-Bradenton, (0.60 to 0.66) and Palm Bay-Melbourne, (0.71 to 0.77).

Sarasota Herald-Tribune April 23, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Real Estate, Sarasota Buyers, Sarasota Real Estate Market News Tagged With: , ,

EPOCH Luxury Condo – Overlooking the Sarasota Bayfront

April 28, 2018 by

EPOCH Luxury CondoAn ultra-luxury condominium tower with clear bay front views is coming to downtown Sarasota. Seaward Development’s lavish 18-story EPOCH project shows the market for multi-million-dollar condos has not passed the saturation point.

The condo community will rise from a 100-foot-wide site between South Palm and South Gulfstream. The only thing separating the building from Sarasota Bay is Bayfront Park.

While the Sarasota-based company announced EPOCH’s debut this week, condo reservations began earlier this month. Buyers have placed reservations on four of the seven full-floor condos, which range in price from $5.39 million to $6.29 million.

One penthouse has yet to be designed or priced. The other 16 units share a floor, with prices starting at $3.22 million.

“It’s amazing how many calls we are getting,” said Amy Drake, a broker with Ocean Real Estate and president of Property Perspectives who is handling marketing and sales for EPOCH. “It shows the demand is there.”

The condos range from 3,689 to 5,379 square feet under air, plus each has multiple bay- and city-view terraces.

Some prospective buyers are seeking these larger spaces, and some desire an urban, walkable lifestyle without giving up space. The demand for direct water views is always strong, Drake said.

Patrick DiPinto, president of Seaward Development, said: “There is strong demand from single-family homeowners who are ready for a change but don’t want to sacrifice the space, privacy and quality their large homes offer.”

The distinctive design of the tower was inspired by the Sarasota School of architecture, said Igor Reyes, lead architect for Nichols, Brosch, Wurst, Wolfe and Associates of Coral Gables. The blending of spaces, he said, “juxtaposed with the distinct outline of each level, provides each residence a sense of individuality that sometimes gets lost in high-rise living.”

EPOCH offers private elevator entries, ceiling heights of 11 to 13 feet, tall walls of glass, open great rooms and kitchens, and large owners’ suites — huge in the full-floor plan, with a living-room-size sitting area.

Community amenities include a porte’ cochere with guest parking; an attended welcome lobby; residents’ clubroom; wellness/fitness center; a tropically landscaped pool terrace with lap pool, spa, fire table and cabanas; roof-top terrace; garage parking and private garages for the full-floor residences.

Construction is scheduled to begin next year, with completion two years later.

Sarasota Herald-Tribune April 18, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate, Sarasota New Construction Tagged With: , , ,

20th Anniversary of The Sarasota Film Festival 2018 Lineup

March 19, 2018 by

Hollywood comes to town with the 2018 Sarasota Film Festival.

The Sarasota Film Festival has unveiled its 2018 lineup, which will include Eric Stoltz’s coming-of-age comedy “Class Rank” as the opening-night film. In addition, Oscar-nominated documentarian Rory Kennedy’s “Above and Beyond: NASA’s Journey to Tomorrow” will serve as the closing night film.

The festival, celebrating its 20th anniversary, also will honor Steve Guttenberg and Virginia Madsen with career achievement awards during the closing weekend.

“We are very excited to bookend the festival with two unique and groundbreaking films from two brilliant and creative directors,” said Mark Famiglio, chairman and president of the Sarasota Film Festival. “It is also an honor to recognize the contributions of Steve Guttenberg and Virginia Madsen to the film industry and celebrate their work from over the years.”

“Class Rank” will screen on April 13 at the Sarasota Opera House. The film revolves around two teenagers (Olivia Holt, Skyler Gisondo) who prepare for life after high school, teaming up to achieve their goals and make their dreams a reality. Kristin Chenoweth and Bruce Dern co-star. Director Stoltz, whose credits include “Mask,” “Pulp Fiction” and “Madam Secretary”, will be in attendance along with producer Sandy Stern.

Kennedy, whose “Last Days in Vietnam” was nominated for best feature documentary at the 2015 Academy Awards, also will be on hand for her film’s premiere on April 21 at the Sarasota Opera House. The film chronicles NASA’s accomplishments and its vital role in America’s future as the space agency celebrates its 60th anniversary.

Guttenberg will be honored for starring in more than 60 films across an array of genres, including “Diner,” “Cocoon,” the “Police Academy” movies and “Three Men and a Baby.” Guttenberg co-stars in “Chasing the Blues” — a comedy-drama about the search for a rare but cursed blues record — which will screen at the festival.

For her part, Madsen will receive a career achievement award for her Oscar-nominated role in Alexander Payne’s Sideways as well as her work in such films as “The Rainmaker,” “Ghosts of Mississippi,” “Joy” and TV’s “Designated Survivor.” The actress co-stars in the drama “1985″ — about a young man’s fears of coming out to his family in the early days of the AIDS crisis — which also will screen at the festival.

Centerpiece films include the Sundance coming-of-age tale “Eighth Grade,” directed by comedian Bo Burnham, who will attend the screening.

The Mister Rogers and Elvis Presley documentaries “Won’t You Be My Neighbor?” and “The King” will have spotlight screenings, as will film festival darlings such as “The Rider,” “Lean on Pete” and “Hearts Beat Loud.”

The documentary competition roster features “Generation Wealth,” a reflection on modern society and wealth by “The Queen of Versailles” filmmaker Lauren Greenfield. Documentaries screening out of competition include “RBG,” about Supreme Court Justice Ruth Bader Ginsburg, and “Bisbee ’17″ by Robert Greene, who previously directed the film “Kate Plays Christine” about Sarasota television reporter Christine Chubbuck.

Narrative films screening out of competition include Paul Schrader’s “First Reformed,” Claire Denis’ “Let the Sunshine In” and Lucrecia Martel’s “Zama,” all of which earned great acclaim touring the film festival circuit, and Sundance entries such as “American Animals” and “Come Sunday.”

Many of these films fall under five Sarasota Film Festival “focuses”: Sports in Cinema, Women’s Comedic Voices, Redefining Manhood, Musings on Musicians, and Environment, Science and Sustainability.

“In honor of our 20th anniversary, we have programmed a lineup that celebrates the past, present, and future of the Sarasota Film Festival that is sure to delight our dedicated and passionate audiences,” the festival’s chairman and president Mark Famiglio said in a statement. “The selection includes a diverse group of narratives and voices that will create engaging conversations about today’s most important topics.”

Hollywood Reporter – March 16, 2018, Sarasota Herald Tribune – March 21, 2018

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Lifestyles, Downtown Sarasota Real Estate Tagged With: , ,

Makeover for Sarasota’s North Trail

November 11, 2017 by

Highway improvements, new businesses and multi-million-dollar projects may finally revitalize North Trail.

North Trail - Downtown Sarasota Real EstateMedians full of trees and flowers, and the absence of unsightly strip malls, North Tamiami Trail has enormous potential as the major entrance to downtown Sarasota.

Lining the highway are institutions that have put Sarasota on the map. New College of Florida, the John and Mable Ringling Museum, the Asolo Repertory Theatre and Ringling College of Art and Design call U.S. 41 in north Sarasota home.

Now, that vision is starting to come into focus. This year, along with a public investment in infrastructure, developers and business owners are taking a fresh look at neglected properties.

Before the end of the year, the Florida Department of Transportation will embark on two multimillion-dollar roundabouts, one on 10th Street and one on 14th, to improve traffic flows.

Entrepreneurs have surfaced. In January, Jessica Simmons and Kim Cressell opened The Reserve, a coffee shop and bookstore at 1322 N. Tamiami Trail, that has become a popular gathering place for college students and residents of surrounding neighborhoods.

Next door, just north of The Reserve, is the proposed Whitaker Lofts, the first project being developed by architects Michael Halflants and John Pichette of Halflants + Pichette Studio for Modern Architecture. The pair is looking for an investor, but site improvements have already started on the vacant lot along North Tamiami Trail between 14th and 15th streets. “We purchased the property with the intention to develop it with 21 condos over retail,” says Halflants. The pair likes the location. It’s close to the Rosemary District and faces Whitaker Gateway Park, Halfant says. Traffic flow should improve after the roundabouts are finished. And, in the future, Halfants hopes, an old rail line, not too far away, will become an extension of the Legacy Trail, an 11-mile paved trail for biking and walking. There’s also a plan to connect Whitaker Gateway Park to Centennial Park, the Van Wezel and the rest of the city-owned waterfront.

On the west side of the Trail, at 1889 N. Tamiami Trail, is The Strand, a development proposed by Sarasota developer Jebco Ventures, which is building the Embassy Suites on the North Trail at Fruitville Road. The Strand will be a 152-unit condominium of two buildings and will include 47 private boat slips, a pool, a fitness center, a dog park, a boardwalk and a paddleboard launch.

Designed by Hoyt Architects in a coastal contemporary style, the project was set to start marketing in November and is expected to break ground first quarter 2018 and be finished 15 months later. Prices for the units start in the low $300,000s.

“The North Trail is so convenient,” says Jebco CEO Jim Bridges. “It’s close to the airport and the Sarasota Bayfront 20:20 project [a 42-acre city-owned bayfront property]. It’s going to be a tremendous opportunity for developers and people looking for new homes.”

Benderson Development has also taken an interest in this section of North Trail. Benderson is under contract to purchase the site where the rundown Monterey Village at 2413 N. Tamiami Trail used to stand. The developer has submitted a site plan application to the city of Sarasota to lease the property to Starbucks, says Ryan Chapdelain, the city’s manager of Neighborhoods, Redevelopment and Special Projects.

Ringling College of Art and Design, which has purchased several commercial buildings and a large vacant corner lot along the Trail, has been a key player in transforming the area. Now the college has big plans for the southeast corner of U.S. 41 and Martin Luther King Jr. Way. More than a decade ago, the college purchased a Shell gas station and made it into a sculpture garden.

Ringling College president Larry Thompson says a major “signature” building is being planned for this lot and will house computer animation, game art and motion design. “It will be the defining entrance of the Ringling College of Art and Design,” Thompson says.

 

941CEO – November 2, 2017

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Construction, Downtown Sarasota Real Estate Tagged With: , ,

Hurricane Irma Slaps Sarasota-Manatee Housing Market

October 22, 2017 by

Sarasota Real Estate Market NewsEarly comments from Sarasota and Manatee real estate agents indicated that Hurricane Irma had little impact on home sales, but the September market report showed the two counties suffered decreases in closed sales, pending sales and new listings despite the region mostly escaping major damage from the storm.

Combined closed sales dropped by 16.8 percent in September compared with the same month last year.

The Realtor Association of Sarasota and Manatee cited office closures, re-inspections and tight scheduling for new appraisals as the reasons for the real estate market stall. September’s decline in sales isn’t an effect of the current housing supply and demand but is directly connected to the business and school closures around the hurricane, the association indicated.

“With Labor Day and office closures, there were 20 percent fewer business days in September to complete a sale,” association president Xena Vallone said. “When a storm like Irma comes around, our focus shifts from day-to-day business to the safety of our homes and loved ones.”

September also witnessed a decline in the number of properties put on the market, with new listings for single family homes falling by 31.8 percent. New listings of condos dropped by 20.9 percent in the two-county area.

“We typically start to see more listings in September as buyers prepare for season,” Vallone said. “But when the storm started its path toward Florida, sellers weren’t preparing to list their house, they were preparing to keep it safe.”

Inventory

Housing inventory dropped marginally from August, but overall inventory does show a slight improvement from this time last year. Single-family home inventory in the combined two counties rose by 1.9 percent, while condos increased by 2.9 percent. Inventory supply typically starts to grow in the fall, which brings good news for post-Irma market recovery, the association said.

Pending Sales

New pending sales plunged, with the blame going to Irma causing fewer shopping days. Properties under contact slumped by 29.8 percent in Sarasota County and 26.2 percent in Manatee. Because of those declines, the hurricane will effect closed sales in October, the association noted.

Median Prices

The sunshine amid these dark clouds is the rise in median sales prices, indicating that Florida’s housing market has only stalled, not crashed, the association said. The median price of single family homes in Sarasota increased by 8.4 percent, reaching $269,000, while Manatee topped those figures by rising 9.3 percent, to $295,000. The reverse occurred in condo prices, increasing by 11.2 percent, to $220,000, in Sarasota and 2 percent, to $181,500, in Manatee.

Herald Tribune, October 20, 2017

Filed Under: Downtown Sarasota Condos, Downtown Sarasota Real Estate, Sarasota Real Estate Market News Tagged With: , ,
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