The Kolter Group will continue its sweeping changes along Sarasota’s bayfront with The Grande, an 18-story luxury condominium next to the Ritz-Carlton hotel.
The development company plans to break ground in spring 2017, with 86 residences that will offer services managed by the Ritz-Carlton.
Prices for three- and four-bedroom units, including penthouses, will run from $2 million to more than $5 million.
The tower will be built over the Ritz’s support facility, just east of the hotel. Kolter acquired air rights from Ritz-Carlton developer Slab LLC in February, court records show.
The building will run north and south, and residents will have views facing east and west, Kolter said.
“Our market research and recent experience have confirmed that there is strong demand for contemporary luxury residences, and we believe The Grande’s combination of unique architecture, unparalleled amenities and exceptional service standards will satisfy the needs of the discriminating Sarasota buyer,” Kolter Group president/CEO Bobby Julien said in a statement.
Kolter expects to complete the building in about 26 months.
Along the bayfront, the West Palm Beach-based company is building Vue Sarasota Bay, an 18-story, 141-unit condo, and a 255-room Westin Hotel at Tamiami Trail and Gulfstream Avenue.
It will also begin construction this summer on The Mark, a mixed-use 12-story tower with 157 residences, on State Street between Pineapple and Lemon avenues.
The Grande joins a number of new condominiums that are going up in the city after years of recession-era slumber. But most are smaller than the Kolter projects, ranging from six to 40 units each.
Amenities at The Grande will include a rooftop pool, fitness center and “The News Room,” a casual lounge.
Residents will have access to Ritz in-home dining and use of the restaurants, salon and spa at the hotel.
The 17-story hotel, which opened in November 2001, already includes more than 200 Ritz residences that utilize those services.
Herald Tribune April 15, 2016
