Bayfront Group Refines Concept Plans

bayfront projectA singular vision for redeveloping the bayfront near downtown is coming into focus

Just three days after The Bay Sarasota stopped collecting surveys on a series of concepts for redeveloping more than 50 acres of city-owned waterfront land, the planning group was busy dissecting the information the public had submitted.

Based on more than 1,000 surveys — about two-thirds of the total results — some community priorities had already become clear. So, too, had some areas of public concern.

The feedback, both positive and negative, will inform the final master plan. As The Bay tries to build support among residents and city officials in pursuit of an ambitious bayfront vision, the group continues to express confidence that an actionable plan is coming together.

That’s not to say there are no questions regarding the path The Bay is taking. More than four years after Sarasota Bayfront 20:20 formed as a grassroots coalition to redevelop the property, residents have spoken out against plans to replace the Van Wezel Performing Arts Hall and reconfigure the 10th Street Boat Ramp. Not everyone is behind the group’s broader approach to putting together a plan.

At this point, The Bay isn’t looking for unanimous support. Bill Waddill, The Bay’s managing director, said the positive responses have largely outweighed the criticisms — but the group will address all the input it receives as it refines its plans.

“We’re going to have debate and disagreement,” Waddill said. “People raise issues and concerns. That’s fine. That’s healthy. That’s what happens in these processes — it’s now getting more and more real.”

On Tuesday, The Bay held a board meeting to discuss the latest stage of the process. After presenting three concept plans in April, the group is working with the planning firm Sasaki to consolidate the survey results into a single plan.

The surveys provided insight into some community preferences. Some examples: About 90% of respondents said they liked the waterfront walking paths included in each plan. Between 70% and 75% of the public endorsed the outdoor performance spaces in each concept. Nearly 80% liked the pedestrian bridges included in one plan.

The bayfront planners will use the Bride the Divide concept as a starting point, but forthcoming changes will reflect public input.

Overall, the public ranked the three plans relatively closely. The leading concept was “Bridge the Divide,” which featured the pedestrian bridges, a performing arts center spanning the canal near 10th Street and an emphasis on green space. As a result, Sasaki plans to use that concept as a starting point for developing a final plan.

Already, the group has identified some changes it wants to make based on public input. They include reconfiguring the proposed performance arts center to preserve views of the bay, creating more opportunities to activate the waterfront and exploring options for honoring the Van Wezel building.

Before the end of the month, Sasaki planners intend to return to the city with more revisions — including more information about expenses and a possible governance setup for the land.

“What you’ll see next won’t necessarily look like the ‘Bridge the Divide’ scheme,” said Gina Ford, Sasaki’s lead designer for the project. “We’re trying to morph it and integrate other things the community said it liked.”

Constructive criticism

As the plans for the bayfront become more detailed, so do the criticisms. One of the challenges The Bay faces is deciding how to respond to individual concerns.

In some cases, the group is willing to admit it’s missing the mark. Some of the strongest negative responses to the concept plans were tied to how they would affect boat access to the water. A.G. Lafley, chairman of the Sarasota Bayfront Planning Organization, encouraged the group to make a better effort to reach out to local boaters and to research what’s made other boat ramps successful.

“We have a community that’s fairly large that we have to get connected to and understand,” Lafley said.

The Bay is handling a push to preserve the Van Wezel slightly differently. About 17% of the survey responses reviewed so far offered comments about the Van Wezel. A majority expressed a desire to keep the building.

The planning group has repeatedly said its proposal for a new performing arts hall reflects the Van Wezel’s belief the existing venue is operationally limiting. At Tuesday’s meeting, The Bay members pointed out those pushing hard for the preservation of the Van Wezel were a vocal minority of respondents.

Still, the group has always expressed an intent to honor the Van Wezel in some form, no matter what happens to the current structure. Based on the results, the group committed to seriously explore the opportunities to repurpose the Van Wezel building. Waddill also stressed that, no matter what decision the city came to, it would be a long time before a new performing arts hall could even be built,  which means there’s plenty of time to carefully consider the Van Wezel’s future.

“It’s a series of decisions that will happen over years,” Waddill said.

In some cases, the planning group is standing behind its expertise despite some negative feedback. Surveys showed 36% of the public disliked the proposal to include a waterfront drive cutting through the green space in the Bridge the Divide scheme. Sasaki planners said this was an important feature for circulation during major events, for access for older residents and to connect the park to the fabric of the city.

The planners said they wanted to communicate to the public that the park driveway would be a small road that would not disrupt the green space with an overwhelming urban feeling.

“We can design it to be a low-speed, beautiful park experience,” Ford said.

There are some critics of the overall scope of The Bay’s work thus far. At Tuesday’s Downtown Improvement District meeting, board member and developer Mark Kauffman said he was upset about the inclusion of restaurants and parkland in the concept plans. He thought the bayfront redevelopment should be focused on cultural institutions, and he feared too many different ideas were being incorporated.

“These people tried to do everything for everybody,” Kauffman said.

Waddill said it’s easy to lose sight of just how much land is available. By way of comparison, he points to the area around the Straz Center for the Performing Arts in Tampa. That hub, which includes multiple theaters, the Tampa Museum of Art, Glazer Children’s Museum, Curtis Hixon Waterfront Park and a 932-space parking garage, is 23 acres.

He understands why Kauffman and others have the instinct to advocate for a more focused vision, whether it’s for a district celebrating the arts or for public parkland. He wants to assure the public that there’s plenty of land to do both, with room to spare.

“I’ve had some questions about why it seems like we’re trying to do a lot in this space,” Waddill said. “The answer is: We have 53 acres.”

 

Sarasota Observer, May 3, 2018

EPOCH Luxury Condo – Overlooking the Sarasota Bayfront

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

Looking for a Strong 2018 Real Estate Market

2018 MarketSouthwest Florida’s residential real estate world is riding a winning streak, and current market conditions indicate continuing prosperity and growth. That’s the consensus evaluation of the robust home market in 2017 and the strong forecast for 2018 among industry insiders in Sarasota and Manatee counties.

Our informal survey panel represents the home-building and selling sides of the business. Their letter grades for this year’s residential market mostly fit into a tight and bright range — from B++ to A+.

“Residential real estate in Manatee, Sarasota and Charlotte counties, in all price points, all home types, continued its consistent momentum through 2017,” reports Michael Saunders, founder and CEO of Michael Saunders & Company, and Drayton Saunders, president. “Buyer demand has been consistently high and rising, inventory was strong and is expected to rise, and prices are seeing an appropriately steady increase.

“In general, it is a neutral market — neither favoring buyers or sellers in any significant capacity, therefore garnering an A-grade.”

Roger Pettingell, a perennial leader in luxury sales and listings and an associate with Coldwell Banker Residential Real Estate, agrees on a neutral market. “The stock market gains of 2017 are translating into strong cash buyers coming into the market. That said, sellers are also feeling quite confident, making for neither a seller nor buyer’s market (which makes a Realtor’s job more difficult!).”

Pettingell, based on Longboat Key, broke the $100 million sales mark for 2017 with a total of $104.6 million, leading the region.

“Using my business as a microcosm of the overall Sarasota market, I’d give this season an A+,” he said. “Not only was it a record breaking year for me, it was a record by 25 percent over last year. If that doesn’t deserve an A, I don’t know what does.”

Lynn Robbins, a Realtor with some four decades selling Sarasota homes and an associate with Coldwell Banker Residential Real Estate, views 2017 as “a strong sellers market.”

“My rating would be a B++ to A- … In my opinion, Sarasota has really been discovered, and the buyers are coming in larger numbers and we are seeing more of them in slower months,” she said.

Xena Vallone, broker/owner of Xena Vallone Realty Inc. and the outgoing president of the Realtors Association of Sarasota Manatee, broke the market in two. “I would rate 2017 residential as an A for sellers because of low inventory, which benefited them by higher prices, but most likely a C for buyers for the same reasons — low inventory and higher prices. I didn’t give it a D because I believe buyers are still getting some great interest rates.”

Lakewood Ranch-based homebuilder and developer Pat Neal of Neal Communities also enjoyed a stellar year. “Certainly 2017 would be an A or an A+. For our target customer (about 55 percent of whom do not have Florida as their address at the time of their first purchase), this has been a great year,” he said.

With 47 years in home construction and sales, Neal Communities has created some 70 successful communities throughout southwest Florida. To date, Neal has built more than 13,000 homes in the region. In 2017, the company built, sold and closed on about 1,168 new homes — topping the previous record year. Sales of new homes totaled $400 million, Neal noted.

Most of those homes — 80 percent — sold in the $250,000 to $500,000 range, the “Marvelous Middle,” as Neal describes the price spread, a range that Realtors find most appealing among buyers.

Across the Sarasota-Manatee-Charlotte market, moderately priced home sales — between $200,000 and $400,000 — “continue to be very strong,” Saunders said, with a 9 percent increase in pending and sold listings year-over-year and an 11 percent increase in the number of new listings over last year.

“Homes in this price range make up the largest segment of our market at 44 percent of total sales,” Saunders said. “With high demand and an average supply, this will force buyers to move quickly and possibly deal with multiple offer situations.”

In the midprice market — from $400,000 to $900,000, which comprises 15 percent of the market — new listings fell in 2017, sales dropped at the lower end and were flat at the higher prices. Sarasota proved to be the exception, Saunders said, with a 30 percent increase in pending sales in November.

Across the three counties, the residential luxury market — $1 million and higher, with sales representing 3 percent of the total market — went from fairly calm waters to a tsunami over the course of 2017. Closed sales were up only 4 percent in the first six months year-over-year, but surged a “staggering 61 percent from July to November,” Saunders said. Pending sales rose 18 percent in the first half of 2017, but soared a “staggering 59 percent” from July to November.

Despite the market hiccup brought about by Hurricane Irma in September, home sales rebounded quickly. Robbins certainly enjoyed autumn. “I was pleasantly surprised in October and November, which have been slower in the past, to find out that they were very busy months for me,” she said.

Multiple Listing Service data for the Sarasota-Manatee-Charlotte market confirm that point. In November, closed sales reached 546, an 8.8 percent increase from the same month a year ago. Plus, there were 677 new pending contracts, up year-over-year by 16.5 percent.

The Realtor Association of Sarasota and Manatee describes the current housing sector as a “healthy market” with combined numbers showing an increase in sales, new listings and prices.

The housing market across Florida also continued its positive streak in November, with more closed sales, more new listings, more pending sales and rising median prices, Florida Realtors data shows.

“In November, Florida’s housing market reflected the trends we’ve grown accustomed to seeing throughout this year,” said Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart.

The year ahead

The final months of 2017 created enthusiasm for 2018.

“I think the momentum which we are seeing, particularly in the last quarter of 2017, will move us forward with a strong 2018,” Pettingell said. “We do know that the real estate market has been in a recovery mode since 2011, and that no market goes up forever, but it looks like there is still plenty of room for further growth in 2018.”

Out-of-state buyers are key players in a strong market.

“Demand is rising, and we feel that it is going to be a busy season with more buyers here than ever before,” Robbins said. “We are seeing more buyers from California and New York than in past years.”

Neal concurs in regards to the market for new homes. He cites the Sunshine State’s broad appeal to out-of-state buyers as one reason the market is flourishing.

“People from Illinois, Michigan, Pennsylvania, New York and Connecticut are finding their way to Florida because of our good quality of life, beautiful environment, good economy and low taxes,” he said. “There has been much more awareness as to the economic advantages of living in Florida. That is, our good and growing economy and also the absence of a state income tax … or estate tax.”

Saunders, too, sees prospective buyers focusing on new construction. “Builders are still answering the pent-up buyer demand for ‘new.’ … Home buyers are electing to purchase a new home over an existing home because of upgrade options, new layout trends and hurricane-resistant materials and construction codes.”

Jon Mast, the chief executive officer of the Manatee-Sarasota Building Industry Association, spotted another current trend — “for new product in Lakewood Ranch becoming more desirable than resales of the same product, thereby lowering prices for same existing product in the Ranch. This will eventually level out over time.”

Saunders links the popularity of new neighborhoods to lifestyle options. “New construction will continue to push forward, especially in areas like West Villages in Venice and Waterside in Lakewood Ranch. The allure of new construction and communities with a plethora of amenities will be in high demand.”

The political climate could be a boon for Florida. With passage of the Tax Cuts and Jobs Act of 2017, the limit on deductible mortgage debt was dropped to $750,000 for loans taken out after Dec. 14. But the implication for Florida real estate lies elsewhere: The measure eliminates deductions of more than $10,000 in state and local taxes from federal tax returns. That could result in a major increase in the tax liabilities for people who itemize deductions and who reside in high-tax states — most probably upper-middle or upper class taxpayers. This, Saunders could bring “a surge of sales in Florida.”

Neal is more emphatic, anticipating a “positive impact” of the federal tax measure on Florida. A key reason is because Neal Communities’ “customers are typically not dependent on mortgage financing, they will not be affected by the mortgage limitations nor some of the limitations on deductibility,” he said.

“We seem to have a strength in the economy. The federal tax reform act will provide further stimulus.”

Neal cautioned against thinking another housing bubble is in the works. “We do not have the building we had in 2003-2006 … but only about one half of the housing production that we had in 2004 (in 2017).”

Another barrier to an overheated real estate market comes as a reaction to that financial crisis — stronger consumer protections. “As credit is so regulated,” Neal said, “I do not see a repeat of the 2003-2006 credit bubble.”

Hot spots

There is broad agreement that downtown Sarasota “is very hot,” as Robbins said, and “with all the charm of our downtown, great restaurants, things to do and close to the arts and Van Wezel, people want to live there and be able to walk to many of these attractions.”

Saunders echoes that sentiment: “Downtown’s residential construction explosion will be a great positive to the downtown commercial and retail sub-market. The growing live-work-play environment in downtown will remain a draw for people from all over the region.”

Besides Lakewood Ranch, the West Villages and the University Parkway corridor, other desirable neighborhoods “will be west of the Trail as buyers want to be close to the water,” Robbins said.

All the barrier islands will continue to be popular, especially Siesta Key with one of the best known beaches in the world. “There are numerous wonderful choices of condos in all price ranges there and one can walk to the beach,” Robbins said.

Herald Tribune December 2017

New Art Ovation Hotel Plays to Sarasota’s Cultural Heritage

Art Ovation

Art Ovation – a boutique downtown hotel, poised to open soon, intends to be the city’s “signature hotel of the arts” by embracing Sarasota’s colorful palette of visual and performing arts.

The 162-room Art Ovation Hotel will be well positioned, physically, to claim the title, being on the corner of North Palm and Cocoanut Avenues, a short walk to the Sarasota Opera House and across the street from Florida Studio Theatre. The interior will be well positioned, too, with displays of the work of Sarasota artists. Paintings by local artists — including children — will line the halls, and furniture by area craftspeople will be used in the rooms.

The hotel will feature an Artist in Residence Program, rotating art collections, art curators and VIP packages to area events and experiences. The walls in the massive lobby and nearby hallways will become galleries once the hotel is finished.

Guests can get into the artistic act by borrowing a musical instrument to “jam” with others or to enjoy an acoustic guitar, cello, steel guitar, banjo and other instruments in their own room. And they can contribute their own artwork during their stay. Each room has a leather-bound sketchbook with professional sketching pencils, sharpener and eraser.

Art Ovation will include a full-service restaurant, lobby bar, fitness center and a rooftop pool and bar.

The boutique hotel will be an Autograph Collection Hotel, one of the Marriott International brands with “upper upscale” and luxury independent hotels and resorts around the world. The Autograph Collection includes The Mark in London, the Atlantis on Paradise Island in the Bahamas and the Hotel Adagio in San Francisco. The company boasts that “this handpicked collection celebrates boutique hotels that deserve recognition as architectural gems” — each one “with its own distinct perspective.”

The cavernous ballroom will hold up to 450 people.

The hotel is scheduled to open on Jan. 18, 2018.

Prime Hospitality Group and Shaner Hotels are collaborating on Art Ovation Hotel. The two companies recently partnered to build and manage Playa Largo Resort & Spa in the Florida Keys.

“Sarasota is a mecca for all things arts, and it was clear from the very beginning of the project that we wanted Art Ovation Hotel to reflect the true character of the city,” Larry Abbo, CEO of Prime Hospitality Group, said in a news release. “We’re eager to capitalize on this unique opportunity to draw guests into the arts and cultural scene both on and off property.”

Brian Hockenbury, senior vice president of operations at Shaner Hotels, said, “We’re exploring a number of partnership possibilities, such as collaborating with students at the Ringling College of Art & Design, behind-the-scenes packages with Florida Studio Theatre, pop-up performances from Sarasota Opera, lunches with the director from Asolo Theatre, and more.”

Art Ovation is one of six downtown hotel projects in the works. Should all be built, the city will gain 973 hotel rooms.

One of those other projects is another boutique hotel, The Sarasota Modern, scheduled to open in the Rosemary District along Cocoanut Avenue next summer. This independent Tribute Portfolio hotel, a Starwood brand, will have 81 rooms.

The Modern will sit across Boulevard of the Arts from yet another boutique hotel, Hotel Indigo Sarasota. Both are near The Players Centre for Performing Arts, Art Center Sarasota and the Sarasota Orchestra.

Herald Tribune December 13, 2017

The Bay Project – Arts & Cultural District Downtown Sarasota

Plans are to transform the 42-acre city-owned area around the Van Wezel Performing Arts Hall into a Public arts and cultural district.

A new vision for the city-owned bayfront in the heart of downtown Sarasota will be delivered to, and ideally approved by, city officials as soon as mid-July 2018, according to the groups spearheading the project.

The ambitious timeline could complete the project after nearly two decades and an array of plans from the city and numerous civic groups most recently brought together under the Bayfront 20:20 umbrella.

Now called simply The Bay, the project turned a corner over the past two months when Boston-area planning firm Sasaki and former Kimley-Horn & Associates executive Bill Waddill were hired to lead the master plan process to transform the 42-acre city-owned area around the Van Wezel Performing Arts Hall into a Public arts and cultural district.

The group raised more than $2 million in private funding from local foundations and philanthropists for the master plan and held a series of “listening sessions” this week, including at the City Commission, before making the first major public presentation since Sasaki and Waddill joined the effort at a Herald-Tribune forum Wednesday.

“We are just kind of blown away by this opportunity and it’s just amazing,” said Susannah Ross, a senior associate with Sasaki working on the plan. “The water’s edge condition changes as you move through the site. I think there are so many possibilities for how to expand on that and experience the bay.”

Ross and Sasaki principal Martin Zorgan, an urban planner, presented the process by which their firm, partner firms and a team of local advisors on the nonprofit Sarasota Bayfront Planning Organization will, over the next eight months, draft a master plan for the physical site and financing mechanisms that could pay for it.

“Who’s gonna pay for it?” Martin said. “Well, it’s a little bit of all the above. There’s philanthropic monies, there’s federal monies, there’s state monies, there’s local monies … what, if any, taxpayer monies go to it.

“We don’t want it to be a surprise … it’s not easy by any means, but it’s definitely doable and great things are worth doing.”

“The process will include studying the series of previous plans for the site, the Bayfront 20:20 ideas and the range of construction going on and planned around it — from the 18-story BLVD condominiums to the east to the massive Quay Sarasota project to the south and the series of roundabouts along U.S. 41 throughout the corridor,” Zorgan said.

Sasaki’s team will consider ways to draw visitors and residents alike to the new space with open areas, opportunities to interact with the bayfront and the buildings along the bayfront now, like the Van Wezel and the lawn bowling and garden clubs, Ross and Zorgan said.

The project is light on specifics about those plans and the financing, but those will develop as Sasaki returns for more feedback in February and then again in April. Draft plans will be presented in May and June.

“We haven’t done it yet, but one option is you in perpetuity establish the site as a Sarasota Land Trust or whatever and you govern it under certain standards,” said A.G. Lafley, chairman of the planning organization and former CEO of Proctor & Gamble. “I’m not making this up off the top of my head — this is done in cities across America and around the world.

“We’re not just going to show a fancy plan from Sasaki and Bill Waddill,” he continued. “We’re really going to work on the financing piece and government piece and the sustainability piece.”

Mayor Shelli Freeland Eddie stressed to the group at its presentation to the commission Monday night that the public continue to be able to provide feedback on the versions of the plan as they develop.

Ultimately, the City Commission will have the final say on the plan, City Planning Director Steve Cover said during the forum.

“It needs to provide accessibility to the water, it needs to be accessible to everyone, it needs to be accessible across (U.S.) 41 and it needs to be a transparent process,” Cover said. “Those are the things we’ll be focusing on. Plus when we get to the end we’ll have to address any regulatory problems involved.”

“The goal is a master plan that represents, as I said, what the community needs and wants that’s executable because we can afford it we can do it and it’s environmentally sustainable,” Lafley added later. “Ultimately the city controls the land.”

Herald Tribune December 6, 2017

Makeover for Sarasota’s North Trail

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

The Grande – Now Slated to be First Quay Development

The Grande, will be the first to rise out of the long-vacant Quay Sarasota development in the heart of Sarasota’s bayfront.

Quay Sarasota - Downtown Sarasota Real EstateThe 73-unit, 18-story, property will be placed on the southwest corner of the site and will include a 9,500-square-foot restaurant overlooking what will eventually become a central plaza for the mixed-use project.

The tower will sit just across from the Ritz-Carlton, and the two will be connected by an elevated pedestrian bridge, according to plans filed with the city in September.

This piece of the Quay Sarasota project will be led by The Kolter Group, the West Palm Beach developers behind the recently completed Westin hotel and still-under-construction Vue condominium next door to the Quay site.

But it will be just a fraction of the estimated $1 billion project plan created by developer GreenPointe Communities. That plan received final approval from the City Commission late last year after years of working with city planners to craft a formal development agreement.

The total Quay Sarasota agreement allows for up to 695 condominiums, 175 hotel rooms, 189,050 square feet of retail space and nearly 39,000 square feet of office space in buildings up to 18 stories high.

Almost every aspect of the overall project is timed and outlined through the development agreement in a series of steps and nine so-called “blocks” where individual pieces of the long-term project will be reviewed and considered at public hearings as each is individually designed.

The Grande will be the first, located on “Block 6” in the southwest corner of the site, and as such is required to be built concurrently with a series of improvements there, according to the plans.

In addition to the condos and restaurant, the city has required the restoration of the historic Belle Haven Hotel at the center of the property be among the first things completed. That requires a separate building application that has yet to be submitted but is being coordinated with Clifford Smith, a city planner and historic preservation expert, according to the memos accompanying the plans submitted by Stantec Consulting Services.

The agreement also requires the initial construction include a portion of the city’s bayfront multi-use trail, which will connect the legs of the bike and pedestrian trail that run north and south along the water on neighboring properties.

The largest requirement is that the construction of the planned roundabout at Fruitville Road and U.S. 41 accompany the construction of The Grande.

The roundabout will replace the traffic signal at that intersection and will serve as a primary entrance for the new condos and Quay Sarasota project.

Design and permitting with the Florida Department of Transportation is underway and its construction will occur simultaneously with the new building’s, according to the application to the city.

Kolter originally announced The Grande last year as an 86-unit condo on the Ritz-Carlton property itself, as opposed to its new location on the Quay Property just across the canal between the two.

Attempts to reach top GreenPointe officials about the move were unsuccessful last week.

Prices under the previous plan included three- and four-bedroom units, including penthouses that would range from $2 million to more than $5 million.

Initial Plans Submitted 688 Golden Gate Point

Initial plans are in the works for a new nine-story, 15-unit luxury condominium in one of the last available plots on Golden Gate Point on Sarasota’s bayfront.

688 Golden Gate Point

 

ONE88 – Prices at nine-story, 15-unit luxury residence are expected to range from $800,000 to $2 million

Local firm Vandyk’s project called 688 Golden Gate Point is planned for a triangular site at the entrance to the point at the base of the John Ringling Causeway.

The early plans include one- and two-bedroom units splitting each floor, each with patios, with a special penthouse unit and two rooftop terraces with fire pits and pools.

Prices are expected to range from $800,000 to $2 million, according to paperwork submitted to the city and given a preliminary, pre-application review Wednesday morning.

“We see this property as a very important architectural statement for us and for the city because of its location and its visibility and we’re approaching it from that perspective,” Vandyk project manager Bert Luper told city staff.

“We’re excited about the project, but we do think the market’s a little soft, so we don’t plan on starting this right away. But we want to go ahead and get it front-ended to work through all of the issues.”

Vandyk bought the site in February 2016 for $3.5 million, according to property records. It is near the company’s recently completed, eight-unit One88 condo project on the other side of the point.

Designers plan to incorporate 32 parking spaces underneath the building and are considering using an advanced parking lift system to park cars one over another, according to preliminary plans. That could work by stowing cars beneath the surface parking lot, but city planners warned Wednesday the idea will run into technical issues with federal floodplain rules at a building at such a low elevation and so close to the water.

The project will go through another round of reviews as designers work to address technical questions from city staff, but Luper indicated there was not a timeline for the project to break ground.

Herald Tribune September 21, 2017

 

Sarasota Downtown Improvement District Looks to Future

The Downtown Sarasota Improvement District is trying to figure out what projects it should take on during the next five years.

downtown sarasota

What will downtown Sarasota look like five years from now?

It’s an unknowable answer, but one the Downtown Improvement District is examining as it considers its priorities through 2022.

Since its formation in 2008, the DID has helped fund projects within its 84-acre boundaries. The group’s notable undertakings include streetscape and landscaping upgrades throughout the district, improvements to Five Points Park and the addition of flower baskets on lightpoles.

On Tuesday, the DID began a strategic planning initiative to determine what it wants to do next. Quickly, the five-member board of directors struck on one central issue: the scope of the DID’s improvement efforts.

The DID’s job is to improve the downtown core — the precise boundaries of which are subject to debate. The DID is bound by Second Street and Ringling Boulevard on the north and south, Goodrich Avenue and Cocoanut Avenue to the east and west. The DID taxes properties within the district an additional 2 mills annually.

With building on an upswing throughout downtown, board member Steve Seidensticker said he thinks the DID should expand its focus outside of its borders, improving a broader area.

He knows some property owners would be hesitant to spend their tax money outside of the precise boundaries of the DID. Some of his fellow board members disagreed with his idea, too.

“I want my taxes going here, in front of my business,” DID Chairman Ron Soto said. “I’m paying for it; I want it here.”

But looking ahead five years, Seidensticker doesn’t see much room for significant improvement within the boundaries of the DID. The group could invest in, say, more landscaping improvements, but Seidensticker said that sort of approach would have a smaller impact than a more expansive philosophy.

The rest of the board didn’t see a reason to spend money outside of the DID’s boundaries, but it did want to consider whether those boundaries should be redrawn. Expanding to U.S. 301 and U.S. 41 would incorporate a much larger segment of commercial properties downtown, though similar discussions in the past never came to fruition.

The board will continue its discussion at a future meeting. When it ultimately produces a strategic plan for the next five years, Seidensticker hopes it will reflect a more ambitious attitude for the DID.

“I think what you need is to think outside of the box a little bit, and not give into fear,” Seidensticker said.

Observer, September 21, 2017

Downtown Sarasota Construction Guide – Downtown Sarasota Real Estate

downtown sarasota construction guideYour Downtown Sarasota Construction Guide. Completed, underway or planned construction projects.

Call it 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.

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 includes 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.

Grab a drink and settle in. This is quite a list.

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

 

 Sarasota Herald Tribune, January 14, 2017