Sarasota certainly has not been idle in the months our seasonal visitors have been away. Let’s take a quick look at what you might have missed while you were gone.
While You were Gone…
…These projects have neared completion:
These long-awaited new construction projects are nearing completion, bringing a lot more options for renters and visitors!
Embassy Suites Hotel - 202 N. Tamiami Tr. Central Downtown
Arcos Apartments - 320 Central Ave. Rosemary District
Elan Rosemary Apartments - 710 N. Lemon Ave. Rosemary District
Sarasota Modern Hotel -1242 Blvd. of the Arts Rosemary District
…These buildings have begun construction:
A multitude of living options await us in the coming months! For the purposes of location, we’ve let you know what niche of downtown each of these are located.
Artisan on Main - 62. N. School Ave. East Downtown
The Boulevard (BLVD) - 500 N. Tamiami Tr. Central Downtown
Bold Lofts - 2nd St. Central Downtown
Courtyard at Citrus - 461 N. Orange Ave. Rosemary District
The Enclave at Laurel Park - 1425 Main St. Laurel Park
Laurel Townhomes - on Hudson Bayou Laurel Park
The Pearl - 609 Golden Gate Pt Golden Gate Point
7 One One Palm - 711 S. Palm Ave. Palm Avenue Waterfront
The Ritz Carlton Residences - 1111 Ritz Carlton Ave. Bayfront North
The Mark - 100 S. Washington Central Downtown
…And these have stayed in or begun the development process:
Many of these have been a subject of our blogs (and conversation!) for months, but the shovel is not yet in the ground.
The Collection - 1335 2nd St. Rosemary District
TBA, 5-story condo - 1469 5th St. Rosemary District
332 Cocoanut - 332 Cocoanut Ave. Rosemary District
TBA, condos - 680 Golden Gate Point Golden Gate Point
Courtyard at Citrus, phases 2 and 3 - 461 N. Orange Ave. Rosemary District
The Demarcay - 27. S. Palm Ave. Palm Avenue Waterfront
Epoch - 53 S. Palm Ave. Palm Avenue
Evolution - TBD Golden Gate Point
Quay Sarasota - North Bayfront
Payne Park Village - East Downtown
The Risdon - Rosemary District
The Strand - North Downtown
Vanguard Lofts - 1343 4th Street Rosemary District
Zahrada - TBD 4th Street Rosemary District
Is all the new construction a good or bad thing? Only time will tell. From a real estate perspective, the sheer volume of new options in the downtown area have begun to impact our current market, which has shifted to a buyer’s market slowly over the past few months. The influx of additional options in downtown housing started as a correction to many years of downright snail’s pace development in our area post-recession. As Sarasota grew in popularity over the last decade, construction didn’t really pick back up until 5-6 years in, so we did have some making up to do. We will have to wait and see how the changing skyline of our city impacts of overall market in the coming months and years.