An Update on the Downtown Sarasota Condo Scene

Posted by Julian Yates on Wednesday, April 13th, 2016 at 2:31pm.

Images courtesy of The Risdon on 5th and The Mark Sarasota.

It's been over a year since I shared with you how new condominiums are changing the face of downtown, and if you've spent any time there, you can easily see how far things have come. However, a few new projects have been added into the mix that you may not yet be aware of. It's high time to survey the downtown condo landscape and give you the latest updates.

As I predicted, Q on Ringling Boulevard was the first to finish building, and new residents are moving in. VUE Sarasota Bay on the corner of Gulfstream Boulevard and US-41 is progressing, as well as The Jewel on the corner of Main and Gulf Stram. SANSARA has also broken ground and is coming together nicely. However, some plans have changed.

For years now, the Pineapple Square project has been developing slowly. The State Street garage is now open, and the 1500 State Street condo project is still set to develop 20 boutique residences just next door to it, but the City Place project seems to have fallen by the wayside.

Fortunately, an even greater vision has taken its place. The Kolter Group, which is also developing the VUE, is now in the process of redeveloping the property considered for City Place into a mixed-use tower called The Mark. The project includes 157 residences priced from the $700,000s, 35,000 square feet of retail space on the ground floor, and 11,000 square feet of office space. Wondering where all of these people are going to park? The project is designed so that the office spaces will mask the building's three levels of parking. The Mark would not only replace the United Methodist Church's parking lot, but also the current retail and office space just south of it, featuring a walkable breezeway between Lemon and Pineapple. The idea is to create an arcade with a vibrant shopping and dining atmosphere, as well as the entrance to the condominiums. Residences will range from 1,377 to 2,940 square feet, and the fifth floor will feature an amenities level complete with a fitness center, media room, pool, fire pit, and an outdoor living room.

As things expand downtown, the downtown vibe is also radiating outward. As the city is in talks about redeveloping Fruitville Road to make it more pedestrian-friendly while accommodating heavy traffic, things are moving ahead steadily in the "NoFro" districts of Rosemary and Gillespie Park. In addition to three new townhomes on 4th Street between Central and Cocoanut, and the 30 townhomes in construction at Valencia Sarasota (at the intersection of Cocoanut and Boulevard of the Arts), Citrus Square will also expand to include 10 more condominiums at The Courtyard at Citrus Square. The Valencia Sarasota project features townhomes ranging from 1,900 to 2,500 square feet, while the new project at Citrus Square will include one-bedroom condos at 1,000 square feet, two-bedrooms at 1,200 square feet, and a two-level penthouse with a rooftop pool at 2,000 square feet. If that's not enough for you, the Risdon on 5th is also planning for 22 residential units ranging from 749 to 2,234 square feet, as well as six additional commercial spaces on the ground floor.

If you've ever thought about living in downtown Sarasota, you should definitely consider one of these new spaces while the getting is good. The face of Sarasota is changing before our eyes, and it's the perfect time for you to become part of that evolution.

If downtown Sarasota looks like home, contact Julian Yates for an expert's guidance in downtown Sarasota real estate.

 


Sarasota Area Real Estate Specialist

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