SARASOTA, FLORIDA, October 11, 2017 – It looks certain that there will be a change of address for the current market listings of the pre-construction Sarasota condos for sale at The Grande at the Ritz Carlton Residences.
The proposed site for the high-rise condominium is being relocated to the 15-acre Quay property adjacent north of the Ritz Carlton complex, as per the plans that Quay developer GreenPointe Holdings submitted to the city in September.
According to GreenPointe President and CEO Ed Burr, the Grande’s developer, Kolter Group of West Palm Beach, approached them about relocating the condominium project to the Quay. Current sales listings of the Grande, priced starting from $2.45 million, notably have a 100 Ritz Carlton Circle address.
Under the submitted plan of the Jacksonville-based Greenpointe, the Grande will be constructed on a block next to the Quay’s marina on the southwest corner of the property. The development of the Quay is approved for nine blocks which include a waterfront district area.
The Grande will be the first development at the long-idle Quay property in the north bayfront area of downtown Sarasota. The condominium’s new site would still have access to the Ritz-Carlton via a pedestrian bridge along the waterfront between the two properties.
Greenpointe said that the relocated Grande condominium project is set for 73 units within an 18-story building. It will also host a 9,500-square-foot restaurant overlooking a planned central plaza for the mixed-use Quay property.
The plans which Greenpointe has submitted to the city listed 2020 as the build-out for the Grande. Earlier, Kolter hoped for a 2017 spring groundbreaking for this condominium for a 2019 completion under a 26-month construction timeframe.
All told, the Quay got city approval for up to 695 condo units and 175 hotel rooms, plus retail space of 189,050 square feet and office space of 38,972 square feet. Total cost of the bayfront property’s development was estimated at approximately $1 billion.
Major infrastructure work which complements the Quay development includes a roundabout at U.S. 41 and Fruitville Road. GreenPointe expects to begin the roundabout’s construction in the 2018 first quarter and to complete it in 12 to 15 months.
Besides the Grande now set at the Quay, Kolter also has its hands full in other downtown developments. One is as the 141-unit Vue condominium set to be finished this year, and the other is the Mark planned for 157 condos on State Street.
This developer, in addition, has launched the “bedroom community” of Artistry Sarasota on Palmer Boulevard, offering some 300 single family homes in its first phase. Kolter is likewise the master developer of the 444-acre Trevesta community in north Manatee which is approved for over 1,100 homes plus retail space of 100,000 square feet.
Kolter was recently reported too as having purchased a parcel south of Moccasin Wallow Road and west of U.S. 301 in Parrish. This parcel is approved for 562 single family homes which are expected to hit the market during the 2018 first quarter.
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>>