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.
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
