SARASOTA, FLORIDA, September 29th, 2014 – Some profound changes appear looming ahead in Venice, Florida, Sarasota Bay Real Estate reports. The full service realty firm notes that local officials had a series of planning sessions this February to seek inputs from its citizenry for proposed ways to create a more diversified economic base for the city. In so doing, Venice wants to be more than just a retirement community but also mold itself as an attractive option for younger residents.
Based on the initial inputs, the major initiatives that the city may pursue shall revolve around diversifying its economy beyond retiree services and tourism. With these efforts, it is hoped that young residents would be able to grow their careers locally.
Strengthening the utilization of the Venice Municipal Airport (VNC) as an economic magnet is among the proposed strategies. The 835-acre VNC indeed holds some untapped potentials with its location along the shoreline of the Gulf of Mexico just less than 2 miles south of the city’s downtown. Operating as a general aviation facility, the airport has two 5,000-foot intersecting runways. Some 200 aircraft are based here, past estimates show.
The site of the U.S. Postal Service just south of the Venice Gulf View subdivision is another promising area identified for possible future development. This downtown location at Venice Avenue adjacent to the Centennial Park can attract taxpaying enterprises should the post office be relocated elsewhere, proponents say.
Other proposals directly addressed to downtown development include wooing investors on a moderate-sized downtown hotel and the construction of a parking garage with space provisions for retail stores and attractive landscaping. An advisory board on bicycle-pedestrian needs and a makeover for the city’s gateways are up for consideration too.
More affordable housing projects were likewise suggested in order to help boost local household formation from among the young adults working in Venice. Additional leisure and social venues for teens, such as a skate park, and more inviting children’s playgrounds were also proposed. One possibility in relation to this proposal was the development of a master plan for the athletic fields of Wellfield Park located between the Pinebrook South subdivision and the Capri Isles Golf Club.
As Venice encourages its economic development, it was emphasized during the consultations that the small-town character of the city shall be maintained. Another emphasis was on the proper management of any new developments that are allowed, with the needs of the new ventures coming in balanced with protecting the natural environment.
Rebuilding its financial reserves was another strategic thrust identified for Venice, although the city was relatively least affected during the 2007–2009 Great Recession compared to its Florida neighbors. Post-recession in 2011, the city’s median household income was estimated at $44,728, which is better than the $44,299 record at the state level.
Also, over 70% of homes in Venice are owner-occupied, unchanged from the recent economic downturn. Moreover, the local residents are comparably better-educated with 19% of its adults having a bachelor’s degree, a huge plus factor as the city attempts to reinvent itself.
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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>>
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