Growth eruption: The city of Sarasota

via the Herald Tribune:

Your visual guide to all of the completed, underway or planned projects in downtown Sarasota.

By John Hielscher
Staff Writer

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 include 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.

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
NA
State Street Partners SRQ Ltd.

The Mark

1400 State St.
157 condominiums, 35,000 square feet of retail, 11,000 square feet office space.
NA
Kolter Group

DeMarcay

33 S. Palm Ave.
39 residential units, 2,400 square feet retail space
$23.7 million
XAC Developers

Quay Sarasota (See also SRQ: Another Day, Another Quay)

N. 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
NA
Choice Hotels International

Azure on Palm

711 S. Palm Ave.
15 residental 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
NA

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
NA
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
NA

JEBCO Ventures

Payne Park Village

295, 301, 325 and 601 South School Ave.
135 townhomes
NA
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

Gigantizing Benderson: Media story and comment

Via the Sarasota Herald Trib:

Benderson [Development Co.] has proposed adding another 600,000 square feet of retail and 100,000 square of office space to the University Town Center, bringing the project’s total footprint to 2.58 million square feet of commercial development. Nearly 1,800 homes also will be built on the site southwest of the University Parkway-Interstate 75 interchange.
....
[Sarasota County] Commissioners on Tuesday agreed to alter the county’s comprehensive plan, the first step needed to allow the UTC expansion to proceed. Those amendments will now go before the state for review.
Approval of many other aspects of the plan was delayed until May 6.
County officials and Benderson could not agree on how the development would impact preserved forest wetlands and mesic hammocks on the property.
As part of the expansion, Benderson has proposed building on more than 50 acres previously set aside for conservation.
Under the developer’s plan, loss of the majority of those wetlands would be offset by preservation in another area of Manatee County, pending approval from the Southwest Florida Water Management District.
But the latest site plans filed by Benderson would bulldoze over 54 percent of the mesic hammocks now growing on the property. County codes protect the unique habitat by only allowing developers to impact up to 25 percent.

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An astute observer of growth politics and planning in Sarasota county offered this comment (emphasis added):

Benderson wants to expand... the key word there is "wants". One can understand that...certainly no secret that that is the business Benderson is in. The issue, though, is this: is this expansion needed by the community? Is it in the best interests of the community? Those are the questions that our elected representatives need to deal with first...not the details of the proposal. The sense I get from the article is this: there are a few unseemly wrinkles (wetlands, for example) that would not make good PR for the BCC, so they have given Benderson an indication of what they need to do to make their "story" more palatable... and not cast an ugly shadow on the BCC as they do Benderson's bidding. Interesting that the headline says that the BCC will (not, "may", or "considers") change the growth plan. So here's my question: does the "community's" input matter? Do "we" have any real voice in this? Will the City of Sarasota raise its voice in alarm as Benderson plans to suck more businesses out of downtown? Given that the UTC has sucked Saks, Wiliams Sonoma, Pottery Barn, Banana Republic, Dillards, etc. out of Southgate, that is certainly not a hypothetical issue.