list of major upcoming Downtown Sarasota development projects

list of major upcoming Downtown Sarasota development projects

CITY OF SARASOTA
REAL ESTATE DEVELOPMENT IN PROGRESS – JANUARY 14, 2015
Economic Development is thriving in Sarasota with many real estate development projects under construction and many
more in the pipeline. This monthly report tracks those projects with construction values of over $500,000 that are taking place
within the Downtown Community Redevelopment Area, an area of approximately one square mile.
Downtown Community Redevelopment Authority Area
1
REAL ESTATE DEVELOPMENT IN PROGRESS – JANUARY 15, 2015
PROJECT IMAGE
PROJECT/LOCATION
State Street Garage
1538 State St.
395 parking spaces
w/13,873 sq. ft. retail
under garage.
Pad site w/5,040 sq. ft.
retail & up to 25,000 sq. ft.
office or residential above.
City Place at Pineapple
Square – Originally
proposed as 13 story bldg.
w/ 30-40 ground floor
retail spaces, 276 dwelling
units.
DEVELOPER
City of Sarasota
Parking garage
w/395 parking
spaces.
CONSTRUCT.
VALUE
$11,379,459
PERMIT
ISSUED?
Garage Completion
approx. 3/ 2015.
Yes
Garage
Under
Construc
tion.
Garage retail space
and pad site sale
approved by City
Commission 8/18.
Retail space under
garage to be sold
as dirt shell.
Adjacent “Pad”
site to be sold.
IGH 1400 State LLC
STATUS
N/A
Currently
undergoing Due
Diligence by buyers
Development
Agreement w/City
expires December
2020.
No
Start-Date
Unknown.
Downtown Community Redevelopment Authority Area
2
PROJECT IMAGE
PROJECT / LOCATION
DEVELOPER
One Palm Avenue
JWM
NE Corner of Palm Ave. at
Management
Ringling Blvd.
138 Hotel Rooms 139 Apts.
/Restaurant &
6,000 sq. ft. +/- Retail
CONST. VALUE
$31,147,000
STATUS
Foundation and
Vertical permits
issued and under
construction.
PERMIT
Yes
Dolphin Tower Condos
Structural Repairs.
117 Unit Condo
Dolphin Tower
Condo Association
$9,000,000
Building permit
issued.
Yes
DeMarcay 33 S. Palm
39 Residential Units &
Restaurant
XAC Developers
N/A
Site Plan Approved
within DROD**
No
Have met twice
with the City
Development
Review Committee
for guidance.
Downtown Community Redevelopment Authority Area
3
PROJECT IMAGE
PROJECT / LOCATION
The Jewel
18 story – residential
condos/with retail at Main
and Gulfstream Ave.
DEVELOPER
Tom Mannusa
CONST. VALUE
$19,281,259
Hotel Sarasota
Adjacent to Palm Ave.
garage.
225 Rooms, 10,000 sq. ft.
ballroom; Restaurant.
Floridays
Development Corp.
Not Available
Adjustments and
encroachments
approved.
Application for
building permits
required by
1/17/15.
Construction
required to begin
by 5/17/15.
No
Image not available.
PERMIT
Yes
Carter Acquisitions
LLC
N/A
Planning Board and
City Commission
approved.
(DROD**)
No
Completion Fall
2015.
City owned property to be
sold to Floridays Dev. Corp.
per Development
Agreement.
Former United Way
Property
1445 2nd St.
168 Apartments, 9
accessory guest units,
17,410 sq. ft. ground floor
retail, 21,000 sq. ft. office
space.
STATUS
Building permit
issued 4/3/14.
Downtown Community Redevelopment Authority Area
4
PROJECT IMAGE
PROJECT/LOCATION
Embassy Suites & Spa
202 N. Tamiami Trail.
Approx. 180 rooms by
JEBCO Ventures.
DEVELOPER
JEBCO Ventures
CONST. VALUE
$40,000,000
STATUS
Pre-application
conference held.
PERMIT
No
Transportation
Study completed.
Demolition permit
for existing
structure pending.
Vue
1 N. Tamaimi
141 unit Residential tower
255 room Westin hotel.
14,000 sq. ft. ballroom
2-jr. ballrooms @ 5-6k sq.
ft. each.
Kolter Group
Quay
695 Dwelling Units
175 Hotel Rooms
38,972 sq. ft. Office
189,050 sq. ft. Commercial
per City Development
Agreement.
GreenPointe
Communities LLC
$120,000,000
Foundation &
Vertical permits
issued.
Yes
Completion Date:
Westin = Fall 2016
Residences =
Winter 2016
N/A
Project required to
be completed
before 1/30/17 or
concurrency will
expire.
Downtown Community Redevelopment Authority Area
No
5
PROJECT IMAGE
PROJECT/LOCATION
Former Gee Whiz
Children’s Museum
Blvd. of the Arts./Sarasota
Bayfront.
DEVELOPER
Owned by City of
Sarasota
Villagio at Rosemary Place
32 lot townhomes at
Coconut & Blvd. of the
Arts. 601-649 Coconut
Ave. (Rennaisance Phase
II).
Icon Real Estate
Ventures
CONST. VALUE
N/A
STATUS
On-hold per City
Commission.
PERMIT
No
To be integrated
into future plans
for 42 acre city
bayfront property.
N/A
Replat of the
property
easements
approved on
1/5/15.
No
Final approval
scheduled for
2/2/15.
Cityside
Apartments between 6th &
10th.
75-80 residential units per
acre. Approx. 400 units.
Rosalyn Holdings
LLC
N/A
Rosemary
Residential Density
Overlay District
approved.
Application for
street vacation of
May Lane
scheduled for
1/14/15 Planning
Board.
Downtown Community Redevelopment Authority Area
No
6
PROJECT IMAGE
PROJECT/LOCATION
Vanguard Lofts
(formerly Aegis Court)
1343 4th Street
6 Townhomes
DEVELOPER
Tetra Terra
Development
CONST. VALUE
$2,400,000
STATUS
Qualifies for
Administrative Site
Plan Approval.
PERMIT
No
Bldg. permit
applied for but not
issued yet.
Image not available.
Rosemary Square
61 Residential Apartments
@15,500 sq. ft. retail
@15,500 sq. ft. office
1515 Fruitville Rd.
Strip Retail Commercial
Center
19,522 sq. ft. gross.
3 spaces leased (pilates
studio, a furniture store
and bar3 hair design).
Rosemary Square
LLC
KGJ Properties
Management LLC
$20,000,000
$650,000
Sale approved.
Development
Agreement
approved
10/20/14.
No
Construction
planned for 3rd qtr.
2015.
Under Construction
Downtown Community Redevelopment Authority Area
7
Yes
PROJECT IMAGE
PROJECT/LOCATION
Sarasota Flats
1404 Fruitville Rd.
228 Residential Units
3,000 Sq. Ft. Retail
DEVELOPER
Framework Group,
LLC
CONST. VALUE
$35,000,000
“Q”
39 Condos
1750 Ringling Blvd.
JEBCO Ventures
All phases
except 5 & 6 =
$5,368,854
STATUS
Community
workshop held.
Partial application
made for street
vacation.
Planning Board. &
City Commission
approval required.
Subdivision plat
approved.
Phases 1,2,3,4 &7
under construction.
$1,300,000 for
Phase 5
Phase 5 applied for.
PERMIT
No
Yes
Payne Park Plaza
242 S. Washington St.
8,295 sq. ft. retail/office.
Mark Kauffman
$1,500,000
Under Construction
Yes
Kimpton Hotel
Washington at Main St.
150 room full service
hotel. Lobby Bar,
250 seat full service
restaurant, Fitness center
Swimming pool,
6,000 square feet of
meeting space
SHD Partners LLC
N/A
Ground breaking
anticipated after
the existing parking
lot is relocated to
2051 Main St.
Hotel pre-app. held
on 12/3/14.
SHD has exercised a
60 day extension to
obtain permits.
No
Sarasota County has a
development
agreement to sell
SHD Partners this
current county
parking lot.
Downtown Community Redevelopment Authority Area
8
PROJECT IMAGE
PROJECT/LOCATION
Centerplex
4-story office building
Ringling Blvd. at Golf St.
DEVELOPER
Mark Kauffman
CONST. VALUE
$4,700,000
STATUS
Adjustments and
encroachments
approved with
conditions at Dev.
Review Committee
on 12/17/14
PERMIT
No
1564-1578 Main St.
Bldg. demo & new store
construction followed by
1560 Main Street
Interior Renovation w/new
facades
Jesse Biter
$1,010,000
Yes
Sansara
300 S. Pineapple
17 Residential Units
MK Equity Corp.
$11,000,000
New 1-story
building, followed
by new façades on
3 adjacent stores.
Traffic Study
underway for
proposed
businesses.
Foundation permit
applied for.
Thirty-FourSeventy-Five LLC
N/A
Appeared before
Development
Review Committee
11/19/14.
No
No
Ground Floor Commercial
711 S. Palm at Alderman
15 Residential dwelling
units in a 5-story building
Downtown Community Redevelopment Authority Area
9
PROJECT IMAGE
PROJECT/LOCATION
1505 Dolphin St.
8 Story building w/6
residential dwelling units
DEVELOPER
Equity
Management &
Holdings
CONST. VALUE
$6,000,000
STATUS
Pre-Application
Conference held
12/3/14
621 Gulfstream Avenue
17 residential dwelling
units in an 18-story
structure.
The Ronto Group
N/A
Pre-Application
held on 12/17/14.
635 S. Orange Ave.
15 Residential dwelling
units in 3 bldgs.
Vandyk USA
N/A
Great Lakes
Development Corp.
$255,000
No
Applied for initial
transportation
concurrency
review.
3,500 Sq. Ft. retail/office
25 N. Pineapple
(former Golden Apple)
14,000 sq. ft. retail
PERMIT
No
DRC provided
conditional sign-off.
Planning Bd. &
Commission
approval needed
for vacation of
easement.
Under Construction
(Included in this
report, as a
noteworthy project
although it does
not meet the $500k
Const. value req.
Downtown Community Redevelopment Authority Area
10
No
Yes
Downtown Community Redevelopment Authority Area
11
Downtown Community Redevelopment Authority Area
12
Downtown Community Redevelopment Authority Area
13
Project Name
New Construction
State Street Garage
State Street Garage “Pad” Site
City Place (Pineapple Sq.)
One Palm Avenue
The DeMarcay**
The Jewel
Embassy Suites & Spa
The Vue
Hotel Sarasota
Former United Way**
Quay
Vanguard Lofts
Rosemary Square
Villagio at Rosemary Place
Cityside
The “Q”
Centerplex Office Bldg.
Payne Park Plaza
Sarasota Flats
635 S. Orange
1505 Dolphin St.
711 S. Palm Avenue
621 Gulfstream Avenue
Sansara
Kimpton Hotel
Major Renovation
Dolphin Tower
1515 Fruitville Rd.
1560 thru 1578 Main Street
25 N. Pineapple
TOTAL
Residential
Rental
Apartments
Residential
Condominiums
& Townhomes
N/A
N/A
276
139
Hotel
Rooms
138
39
19
141
200
255
225
168
695
6
175
61
Commercial
Sq. Ft.
13,885
5,040
Yes N/A
6,000+/N/A
6,900
N/A
N/A
Yes N/A
189,050
Information provided by: City of
Sarasota Neighborhood & Development
Services Division (NDS).
Information Subject To Change.
Information reflects projects in various
stages of the city development process
and/or projects with a city development
agreement in place.
** Denotes grandfathered project within the
former DROD designation (Downtown
Residential Overlay District).
15,500
32
400
39
For Further Information Contact:
N/A
8,295
3,000
3,500
228
15
6
15
17
17
Or
150
117
996
1,434
Norman Gollub
Downtown Economic Development
Coordinator
(941) 556-4053
1,143
N/A
19,522
Yes N/A
14,000
284,692+/-
Gretchen Schneider
General Manager, NDS
365-2200 ext.4355
Downtown Community Redevelopment Authority Area
14
OFFICE BUILDINGS IN THE CRA THAT ARE 20,000 SQ. FT. OR GREATER
EXCERPT MODIFIED FROM THE SARASOTA ASSOCIATION OF REALTORS, COMMERCIAL INVESTMENT DIVISION 4TH QUARTER REPORT
BUILDING
ADDRESS
YEAR
#
BUILT FLOORS
BANK OF COMMERCE 1858 Ringling Blvd. 2007
3
COURTHOUSE CENTER* 1990 Main St.
2005
10
HERALD TRIBUNE*
RINGLING SQUARE*
1743 Main St.
2005
1626 Ringling Blvd. 2005
2
5
FIVE POINTS
50 Central Ave.
TOTAL
VACANT
% OF
MAXIMUM
CONTACT
SQ. FT.
SQ. FT. BLDG. CONTIGUOUS SUB-LEASE
22,000
0
0
28,028 Joe Hembree
93,000
2,315
2%
Diane Lawson
Linda Emery
70,000
0
0
Tom Far
40,000
7,200
18%
Joe Hembree
2004
16
87,680
0
0
KANE PLAZA
1 South School Ave.
SARASOTA CITY CTR. 1819 Main St.
ONE SARASOTA TOWER2 N. Tamiami Trail
1900 MAIN ST.
1900 Main St.
2000
1989
1988
1988
10
13
12
3
78,513
247,891
137,139
28,000
14,400
55,184
4,918
4,926
18%
22%
4%
18%
1970 MAIN ST.
1970 Main St.
CENTER POINTE
2033 Main St.
BMO
240 Pineapple Ave.
BB&T FINANCIAL CTR. 1800 2nd St.
THE HUB
1680 Fruitville Rd.
MAIN PLAZA
1991 Main Street
PNC
1549 Ringling Blvd.
U.S. GARAGE
330 S. Pineapple
NORTHERN TRUST
1515 Ringling Blvd.
ELLIS BUILDING
1605 Main St.
SUNTRUST
1777 Main St.
THE POINT / BANK ONE240 N. Washington
ZENETH Plaza*
1390 Main St.
1718 MAIN ST.
1718 Main St.
MIRA MAR CENTER
47 S. Palm Ave.
1988
1987
1986
1986
1986
1986
1983
1983
1982
1978
1975
1974
1972
1950
1922
5
6
11
9
4
2
6
2
11
13
10
7
11
2
2
22,500
94,604
125,810
248,558
41,250
262,000
55,000
38,100
109,972
131,189
98,966
45,466
115,783
27,461
44,000
600
14,700
18,840
38,042
2,630
32,479
5,005
1,400
18
27,000
13,821
14,200
0
7,218
1,023
3%
16%
15%
15%
6%
12%
9%
4%
17%
21%
14%
31%
0
26%
4%
PALM TOWERS
TOTALS
1922
7
1343 Main St.
AVAIL.
27,500
7,065
26%
2,292,382 272,984 11.90%
10,000 Jason Donald
6,700
12,413
3,377
2,153
10,000
10,104
7,856
2,849
13,660
5,005
4,730
10,719
27,000
9,410
7,050
10,719
1,794
8,000
400
4,200
3,188
COMPANY
PHONE
Hembree & Associates 941-951-1776
Sperry Van Ness
941-387-1200
Michael Saunders & Co. 941-587-0725
Hembree & Associates 951-1776
Cushman Wakefield
813-223-6300
Joe C. Hembree Hembree & Associates 941-951-1776
Lori Hellstrom Osprey Real Estate
941-3365-1819
Susanne Stovell ICORR
941-954-2300
Diane Lawson Sperry Van Ness
941-387-1200
Linda Emery
Diane or Linda Sperry Van Ness
941-387-200
Bib Hiller
Property Manager
941-366-0217
Jag Grewal
IBRE
941-906-8688
George Spector Spector Group
941-365-0969
Steve Horn
Ian Black Real Estate 941-906-8688
Steve Horn
Ian Black Real Estate 941-906-8688
Lee DeLieto
Michael Saunders & Co. 941-957-3730
Debbie Anglin Ian Black Real Estate 941-906-8688
Kelly Matheson Pointe Group Realty Inc. 941-554-1493
Mark Curran
Benderson
941-359-8303
Susan Goldstein Michael Saunders & Co. 941-957-3730
Bob Hillier
Property Manager
941-366-0217
Ashley Bloom Sperry Van Ness
941-961-7109
Diane lawson or Sperry
Linda Van Ness
941-387-1200
Linda Emery
4,200 Steve Ross
Hembree & Associates 941-951-1776
70,659
*Constructed with CRA Funding Participation.
Downtown Community Redevelopment Authority Area
15