SARASOTA, FLORIDA, May 15, 2018 – Some real estate agents and prospective buyers of Sarasota homes for sale, for good reason, must have now marked as an area of interest the neighborhoods around the sprawling northwest quadrant of Tuttle Avenue and Myrtle Street in north Sarasota. Valuations of residential properties in this locality are likely to undergo significant fluctuations as plans pan out for a large housing project taking over the 139-acre Rolling Green Golf Course at 4501 North Tuttle Avenue.
Directly north of Myrtle Street and south of 47th Street, this 18-hole golf course and its four buildings were bought for $8 million in March this year by the Sarasota firm Merriwater Golf LLC. This company recently filed an application with Sarasota County to rezone the property and increase its allowed density to 4.5 units per acre from the current one unit per acre.
If approved, this would allow Merriwater to build in the golf links 199 single-family homes plus 400 villas and multi-story townhomes in 100 buildings. It could take six months for the rezoning process to proceed, which if passed would be followed by development approvals for another six months.
Chances appear favorable on the approval of Merriwater’s rezoning application, although some area residents are concerned that the new housing project could further worsen the already congested traffic situation in the area. Significantly, the homebuilding plan in the Rolling Green links is reminiscent of several other previously approved local projects along the same vein.
One of these recent initiatives was the Sunrise Preserve residential community of Canada-based builder Mattamy Homes which carved it on the closed 18-hole layout of the Sunrise Golf Club east of Honore Avenue. Sarasota-based builder Medallion Home likewise previously got the go-signal to redevelop the abandoned Foxfire Golf Club east of Interstate 75 and has put up in this south Sarasota site the 110-home Waverley neighborhood. Medallion also has county-approved plans to build 106 new homes on the Gulf Gate executive golf course at 2550 Bispham Road east of U.S. 41.
In North Port, plans are likewise set to redevelop the Sabal Trace golf course, which was closed last year, into a new residential community. The blueprint is also being finalized to convert the 27-hole Palmetto Pines Golf Course in Parrish into a 610-home community.
The Rolling Green golf course opened in 1968, and its acreage includes separate putting and chipping greens, a driving range, and a restaurant. More importantly for players in the Sarasota real estate market, residential neighborhoods flank north and south of the golf links.
On the northern side off 47th Street is the villa community of Rolling Golf Village, a small and friendly age 55-plus neighborhood. Opposite at the far southern side off Myrtle Street are the condo two-story townhouses of Rolling Golf South, which is gated and not an age-restricted neighborhood.
The homes for sale in these two neighborhoods are attractive to investors and home buyers with a limited budget, as these available residences’ price quotes typically come in the $100s. The floor plans of these homes range from 846 to 1,400 square feet mostly designed with two bedrooms and two baths, likely buying targets nowadays with the events unfolding at Rolling Green.
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>>