SARASOTA, FLORIDA, March 5th, 2016 – The property sector in Longboat Key came off to a flying start this year in the five-year record, $7-million sales of a speculative mansion around end-January 2016. Moving forward, at least three major infrastructure projects in the town promise to help keep real estate market interest in Longboat aloft and vibrant.
Firstly, aesthetics and curb appeal are in for a significant enhancement for communities and Longboat Key homes for sale along Gulf of Mexico Drive (GMD) where the banner 7,586-square-foot luxury home sold recently is also incidentally located. Funding is currently being finalized on the $25.25 million undergrounding of power lines on the GMD which stretches for nearly 12 miles across the island.
Approved by islanders’ vote in November 2015, the project will likewise bring fiber optic cable and new decorative street lighting to the GMD corridor. The undergrounding will also open the opportunity for a re-landscaping of this major road bisecting the key into gulf front and bayside Longboat Key homes for sale.
Undergrounding the utilities in remaining Longboat Key side streets and neighborhoods, moreover, is very likely. The town commission has been threshing out details for this additional neighborhood project since the November approval on the GMD overhead utility lines undergrounding. It hopes to put to a vote in a March 2016 referendum the neighborhood undergrounding which is estimated to cost $23.85 million.
Later in April, several residential properties along Longboat Key’s gulf front are expected to get a lift from the start of an extensive beach renourishment project estimated to cost about $11 million. Permits for this sand replacement have already been secured, and sands sources from three or four potential, including Longboat Pass and New Pass are also being finalized.
The sites for sand renourishment include the key’s north end beaches in front of Longbeach Condominiums where a groin project was completed just recently. The beach makeover southward will cover the coastline behind Longboat Key Club’s Islandside. Consequently, this will ease some recent concerns on beach loss in this posh exclusive resort as well as in neighboring Longboat Key condos for sale at The Pierre, Sanctuary, and L’Ambiance.
As a third source of excitement, matters are beginning to shake up too mid-key, with the $3.11 million renovation of the Bayfront Park Recreation finally scheduled to start in May 2016 after several months of delay. The final blueprint for the makeover is expected to be 90 percent complete by March and will include plans for the construction of new restrooms and a covered picnic area.
With both bay and beach access within its area of nearly nine acres, this park will also feature such future offerings as paddle sport launch and equipment storage, fishing piers, mangrove walkways and a preserved rain garden area. Additionally, it will have new bayfront pavilions, open space/playing field, pickelball and bocceball areas, and landscape buffers.
With a May start, construction of the new facilities is projected to be completed before end-2016. Aside from these upgrades, the Bayfront Park has an existing 1,350-square-foot activity center for community gatherings which is an added perk to Longboat Key homes for sale near this facility.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>