SARASOTA, FLORIDA, August 23, 2018 – The plan is moving forward for a makeover and expansion of the Siesta Key Palms Resort at 1804 Stickney Point Road just east of the south bridge to Siesta Key. This is but one indication that there is still much to expect in terms of growth for the Sarasota real estate market, with at least three other projects put in the pipeline in recent months.
Resort owner Henry Rodriguez early this August completed purchase of a six-unit, 22,026-square-foot property adjacent to his hotel. It will facilitate the immediate expansion to 42 rooms of Siesta Key Palms which will likewise undergo a major remodeling and addition of spa services.
Earlier in June, Rodriguez got County Commission approval for a rezoning of the site of the resort to a Boutique Resort Redevelopment/Planned Development District so that the hotel expansion/renovation could proceed. Rodriguez sought the new zoning because he wanted to enhance and preserve the “Old Florida” character of his mid-20th century motel-style resort. Rather than building a sleek high-rise, Rodriguez plans to add a three-story building plus a 30- slot parking space to his property.
Less than three miles north of Rodriguez’s resort, an even bigger plan is in the works at the fitness facility Bath and Racquet Club off U.S. 41 at 2170 Robinhood Street. City approval is being sought for a $33 million renovation and residential addition to this property.
The proposal calls for the construction of 150 to 180 residential units plus 27 units of affordable housing. Either three- or four-story buildings will be built on the southern and eastern sides of the property for these residences, along with a 20-foot buffer landscaping. Another seven-story building will also be built in the fitness club’s current parking lot.
The renovation part of the fitness club includes consolidation of surface parking and a makeover of existing buildings and facilities. The club’s existing facilities already include 29 tennis courts, 5 racquetball courts, 3 squash courts, Olympic-size swimming pool, and a 40,000-square-foot fully equipped gym.
Meanwhile, east of downtown Sarasota, a luxury hotel is set at 20 North Washington Boulevard after the county approved sale of this site to a local firm, Germain LLC, owned by investment banker Ronald Gray. This developer is putting up in the .95-acre parcel its Hotel Laurent with up to 140 rooms. It is envisioned as a boutique hotel with a restaurant, lobby bar, and spa. Its projected opening is 2020, with the developer eying other similar Sarasota projects.
In another development, Tampa-based HG Management LLC has filed plans with the city for a proposed Marriott Hotel at the northeast corner of Fruitville Road and East Avenue. Its application calls for the construction of a four-story, 131-room hotel in the 2.1-acre site.
Described as a “limited-service hotel,” its plan features three conference rooms with a total area of 2,739 square feet. Also included in the submitted blueprint are seven small offices with a total floor space of under 5,600 square feet. Hotel access would be on Third Street. Since 2016, more than 1,000 hotel rooms have been constructed or are in the pipeline in and around downtown Sarasota.
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>>