Downtown Sarasota Developments
March 3, 2008 by Perry Corneau · 2 Comments
The slower real estate market of the past two years has caused many developers to reconsider or revise their plans for downtown condominiums in Sarasota. Despite delays and postponed start dates, most developers remain bullish on the Sarasota market as are so many high end retailers moving into the area. Condominiums currently on hold, pending procurement of financing or redesign include:
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1289 North Palm – 140 room hotel planned and 150 condos postponed.
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Atrium - Request for extension on approval denied. Developer will redesign.
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Avalon – To be redesigned with hotel and fewer condominium units.
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Bank of America Building - To be redesigned with fewer than original 168 units.
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City Place at Pineapple Square – Start delayed pending successful pre-sales.
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DeMarcay - Restaurant and 39 units expected to begin in summer.
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Devenshire Park - Construction will begin when homes are sold.
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Grand Sarasotan - This 17 story project was granted an extension.
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Marquee on the Bay – Three more pre-sales required to obtain financing.
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One Palm - A hotel is now being planned in it’s place.
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Sarasota Bayside – $1 billion in in proposed development delayed untill market improves.
Visit www.sarasotacondominiums.com for more information.
I am a Real Estate Broker - Associate with Signature Sotheby's International Realty. I have lived in Sarasota for most of my life and have been a real estate broker in Sarasota since 1988. I am blessed to have the love of my wife Opal and our two daughters, Katie and Victoria. I can be reached on my direct line at 941-650-4626. It would be wonderful to have the opportunity to work with you and earn your trust and friendship.
We have a place in Naples and never realized how developed Sarasota was becoming.
Cheers
Ken, you reall should come and check out Sarasota. I have been to Naples many times and still love Sarasota. There is nothing like downtown Sarasota’s bayfront area in Naples.