By the fall of 2015, delivery is expected for the pre-sold condo units of the Aria, which is but one of the recent property developments reshaping Longboat Key. Other projects in the pipeline include the Infinity condo and single family homes at two proposed luxury subdivisions—Bonaire with just nine residences and the Enclave set for only three homes.
These new projects are in addition to the 17 new single-family home permits that the town of Longboat Key issued from October 1 to April 15. The new residences rising in the barrier island are mostly waterfront homes, at either bay side or gulf shore.
The Aria, located at the southern end of Longboat Key, is touted as the first condo project to get off the ground in the barrier island since the 2006 completion of the 29-unit Positano condominium. Consisting of 16 luxury condo units, the Aria broke ground in July 2014 at a five-acre lot at 2251 Gulf of Mexico Drive. It is expected to be completed from 15 to 17 months.
Aria’s site covers the old Villa am Meer estate built in 1935. The historic home is being restored at a $1-million cost to serve as Aria’s clubhouse and provide residential accommodations for the condo’s manager. The total retail value of the Aria units was estimated at $62 million, with 13 of them already under contract as of July at sticker prices around the $4 million level each.
Some pre-sales contracts have also been already drawn at the 11-unit luxury condo, Infinity, set to be built at 2.5-acre parcel at 4765 Gulf of Mexico Drive, a site formerly occupied by the Longboat Key Holiday Beach Resort. The Infinity units are being marketed as fully-finished, beachfront homes priced from $2.9 million to $4.95 million.
Prospective buyers at this condo can choose from three floor plans and two penthouses. Soaring ceilings and luxurious Italian-style cabinetry are among the distinctive interiors features of these technology-friendly homes which are also designed with insulated and high-impact Gulf-view windows. Planned amenities at Infinity include a private spa and clubhouse, a beachside heated pool, expansive sun terraces, tennis court and fitness center.
Triton Bend, a small subdivision just behind the Longboat Key Town Hall, is another hub heightened construction activity in the barrier island. This property is considered rare in the island as it zoned as single family residential and still largely undeveloped. Thirteen homes are planned for completion in this area in the next year or so. In recent months, homebuilding permits have also been issued in LBK communities Country Club Shores and Bay Shores.
Town approval has likewise been granted for Bonaire, a planned gated subdivision with nine single-family homes in a site reputed as the last developable piece of gulf-front Longboat Key land. Its development is expected to take two and a half years. The vacant parcels will be sold starting at $1.25 million while completed homes are priced in the $3–7 million range. The Bonaire residences’ floor areas will range from 2,800 square feet to 5,000 square feet and feature private pools, driveways and garages. Five of the homes in the project have reportedly been sold already.
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>>