Downtown Sarasota Building Projects Status

CITY OF SARASOTA
REAL ESTATE DEVELOPMENT IN PROGRESS – OCTOBER 15, 2014
Economic Development continues to thrive in Sarasota with many real estate development projects under construction and
many more in the pipeline. This monthly report tracks those projects 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 – OCTOBER 15, 2014
PROJECT IMAGE
PROJECT/LOCATION
State Street Garage
1538 State St.
395 parking spaces
w/13,873 sq. ft. retail
under garage.
DEVELOPER
CONSTRUCT.
VALUE
City owned parking $11,379,459
garage. Retail
space under
garage to be sold.
Pad site to be sold.
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 for: 13 story,
800,000 SF+, 30-40 retail
spaces, 276 condos
Pineapple Square
Development
N/A
STATUS
PERMIT
ISSUED?
Garage Completion
March 2015.
Sale of garage retail
space and the pad
site approved by
City Commission
8/18.
Due diligence and
sale documents
next step.
Start-Date
Unknown to
implement
Development
Agreement w/City.
Downtown Community Redevelopment Authority Area
Yes
Foundation
issued.
Vertical
permit
issued.
No
2
PROJECT IMAGE
PROJECT / LOCATION
DEVELOPER
One Palm Avenue
John & Gavin
138 Hotel Rooms 139 Apts. Meshad
/Restaurant &
6,000 sq. ft. +/- Retail
NE Corner of Palm Ave. at
Ringling Blvd.
CONST. VALUE
$31,147,000
STATUS
Foundation and
Vertical permits
issued.
PERMIT
Yes
Dolphin Tower Condos
Struc
tural Repairs
Dolphin Tower
Condo Association
$9,000,000
Building permit
issued.
Yes
DeMarcay 33 S. Palm 39
Residential Units
XAC Developers
N/A
Site Plan Approved
within DROD**
No
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
STATUS
Building permit
issued 4/3/14.
Completion Fall
2015.
PERMIT
Yes
Vue
1 N. Tamaimi
141 unit Residential tower
/ 255 room Westin hotel.
14,000 sq. ft. ballroom, 2jr. ballrooms @ 5-6k sq. ft.
each.
Kolter Group
$120,000,000
Foundation permit
issued. Vertical
permit applied for.
Completion Date:
Fall 2016 - Westin
Winter 2016 –
Residences
Yes
Quay
Currently represented by
HFF’s Miami office.
N/A
N/A
Existing
Development
Agreement. Buyers
offers submitted to
HFF 7/14/14.
No
Embassy Suites & Spa
202 N. Tamiami Trail.
Approx. 180 rooms by
JEBCO Ventures.
JEBCO Ventures
$40,000,000
Pre-application
conference held.
No
Transportation
Study completed.
Downtown Community Redevelopment Authority Area
4
PROJECT IMAGE
Image not provided.
PROJECT/LOCATION
Former Gee Whiz Children’s
Museum
Blvd. of the Arts.
DEVELOPER
Owned by City
of Sarasota
CONST. VALUE
N/A
STATUS
On-hold per City
Commission
PERMIT
No
Hotel Sarasota adjacent to
Palm Ave. garage
225 Rooms
10,000 sq, ft, ballroom
Restaurant
Floridays
Development
Corp.
Not Available
Adjustments
approved by
Planning Board &
Staff.
Encroachment
permit approved.
No
Cityside
Apartments between 6th & 10th.
75-80 residential units per
acre. Approx. 400 units.
Rosalyn
Holdings LLC
N/A
Pending Rosemary
Residential Density
Overlay District
approval expected
at October, 20 City
Commission Mtg.
No
Former United Way Property
1445 2nd St.
170 Apartments, 9 accessory
guest units, 17,410 sq. ft.
ground floor retail, 21,000 sq.
ft. office space.
Biter Bldg. LLC
N/A
Planning Board and
City Commission
approved.
(DROD**)
No
Downtown Community Redevelopment Authority Area
5
PROJECT IMAGE
PROJECT/LOCATION
DEVELOPER
Icon Real
Estate
Ventures
CONST. VALUE
N/A
STATUS
Applied for a replat
of the property.
PERMIT
No
Vanguard Lofts
(formerly Aegis Court)
1343 4th Street
6 Townhomes
Tetra Terra
Development
$1,500,000
Administrative Site
Plan Approval.
No
Rosemary Square
61 Residential Apartments
@15,500 sq. ft. retail
@15,500 sq. ft. office
Rosemary
Square LLC
$20,000,000
Sale approved.
Development
Agreement being
prepared.
No
1515 Fruitville Rd.
Strip Retail Commercial Center
3 spaces have been leased
(pilates studio, a furniture store
and bar3 hair design).
Kim Jordenson
$650,000
Under Construction
Yes
Villagio at Rosemary Place
32 lot townhomes at Coconut &
Blvd. of the Arts. 601-649
Coconut Ave. (Rennaisance
Phase II).
Image not provided.
Downtown Community Redevelopment Authority Area
6
PROJECT IMAGE
PROJECT/LOCATION
DEVELOPER
JEBCO
Ventures
CONST. VALUE
All phases
except 5 & 6 =
$5,368,854
STATUS
Subdivision plat
approved.
Phases 1,2,3,4 &7
under construction
PERMIT
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,
120 seat full service restaurant,
Fitness center
Swimming pool,
6,000 square feet of meeting
space
Kimpton
Hotels
N/A
Exchange
agreement
followed by ground
breaking
anticipated at end
of 2014, after
existing parking lot
is relocated to 2051
Main St.
No
Centerplex
4-story office building
Ringling Blvd. at Golf St.
Mark
Kauffman
$4,700,000
Adjustments and
encroachments
needed.
No
“Q”
39 Condos at 1750 Ringling
Blvd.
Downtown Community Redevelopment Authority Area
7
PROJECT IMAGE
Image Not Provided
Image Not Available
PROJECT/LOCATION
635 S. Orange Ave.
15 Residential Units in 3 bldgs.
3,500 Sq. Ft. retail/office
1564-1578 Main St.
Storefront Renovation
1560 Main Street
Interior Renovation
DEVELOPER
CONST. VALUE
Vandyk USA
N/A
Jesse Biter
$1,010,000
STATUS
PERMIT
Planning Bd.
Adjustments
needed
Construction
underway.
Downtown Community Redevelopment Authority Area
No
Yes
8
Downtown Community Redevelopment Authority Area
9
Downtown Community Redevelopment Authority Area
10
Project Name
New Construction
State Street Garage
State Street Garage Adjacent Site
City Place (Pineapple Sq.)
One Palm Avenue
The DeMarcay**
The Jewel
Embassy Suites & Spa
The Vue
Hotel Sarasota
Former United Way**
Quay
Aegis Court
Rosemary Square
Villagio at Rosemary Place
Cityside
The “Q”
Centerplex Office Bldg.
Residential
Units
0
N/A
276
139
39
18
N/A
144
0
148+/622
6
61
32
400
39
0
Hotel Rooms
0
0
0
138
0
0
@200
255
225
0
175
0
0
0
0
0
0
Retail
Sq. Ft.
13,885
Yes N/A
Yes N/A
6,000+/N/A
6,900
N/A
N/A
N/A
Yes N/A
Yes N/A
No
Yes N/A
No
No
0
0
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).
For Further Information Contact:
Norman Gollub
Downtown Economic Development Coordinator
(941) 556-4053
Or
Gretchen Schneider
General Manager, NDS
365-2200 ext.4355
Major Renovation
Dolphin Tower
1515 Fruitville Rd.
1560 thru 1578 Main Street
SUB TOTAL
117
0
0
2,041
0
0
0
993
N/A
Yes N/A
Yes N/A
26,785
No Application Submitted
Not Official
SanSara
Kimpton Hotel
TOTAL
17
0
2,058
0
150
1,143
N/A
No
All projects listed are within the boundaries of the Downtown Community Redevelopment Authority area.
Downtown Community Redevelopment Authority Area
11