SARASOTA, FLORIDA, October 31st, 2016 – Options for new builds will soon boost the stock of existing homes at University Place and in its neighborhoods Savannah Preserve and Carolina Landings.
Benderson Development, which owns a mixed-use property adjacent and just south of these communities, is seeking Manatee County approval on infill projects for more commercial/office space and hotel rooms. It also seeks additional residential units to build out this land parcel east and west of Cooper Creek Blvd. and north of University Parkway.
Benderson is seeking an entitlement of 250 residential units in addition to the 79 residences yet to be built in the property. These homes are planned in a spot directly south of the Savannah Preserve comprised of 90 carriage homes.
The developer, which is one of the partners behind the Mall at University Town Center just across University Parkway, also wants an additional 135,000-square-foot commercial space for a total of 951,200 square feet within the property. Benderson, likewise, seeks an extra 200,000 square feet of school or office use (378,700-square-foot total) and an additional 150 hotel rooms (400-square-foot total).
The additional square footage for commercial space would be used mostly by current tenants, such as those at The Shoppes at University Town Center in the property. This would enable Benderson to attract larger retailers and beef up existing business establishments within the development such as Home Depot, Nordstrom Rack, and the Hampton Inn & Suites.
To help mitigate traffic with the increased commercial activity in the area, Benderson earlier filed plans with the Manatee and Sarasota counties for two new roundabouts near the property. Estimated to cost between $2.5 million and $3 million, this project calls for one roundabout at the entrance of the Shoppes at University Town Center and another at Tourist Center Drive. From these roundabouts, Benderson also plans an additional southbound lane on Cooper Creek to University Parkway.
Residential buyers drawn into this growth area are likely to find a paltry inventory of homes for sale at the Carolina Landings as it consists of just 62 townhouses. Available properties in this community, which is surrounded by natural preserves and water features, are typically priced at the upper $100s. These sales listings feature floor areas ranging from 1,156 to 1,452 square feet designed with two to three bedrooms. Maintenance-free and gated, this community offers a heated pool and a fitness center amongst its amenities.
Its neighbor, Savannah Preserve, has similar facilities and well-developed grounds with no CDD fees. Sarasota homes for sale here are priced around the $300s, featuring floor plans starting at about 1,600 square feet designed with two bedrooms and two baths.
Single family homes with larger floor plans are the choices at University Place which was developed with 400 residences within 150 acres. Typical sales listings in this community are in the $300s‒$500s range, two to four bedrooms within floor areas of between 1,700 and 3,300 square feet.
University Place is a well-appointed gated community. Its amenities include two separate recreation centers with heated pools, spa, fitness facilities, and outdoor kitchens. Additionally, it has lighted tennis courts, a playground, and nature trails across unspoiled wetland preserves buffering the din of activities at the growing Benderson commercial complex near this community.
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>>