Canadian Developer Vandyk Ups Florida Interest


The Vandyk Group, an Ontario-based company specializing in boutique property developments, has started marketing its mixed residential-commercial Orange Club in Burns Court at downtown Sarasota and acquired Seafood Shack Marina and Bar, a popular landmark in the historic Gulf Coast fishing village of Cortez, Florida.

Vandyk started expanding its operations from Ontario to western Florida around 2014, encouraged by the southward exodus of baby boomers seeking a refuge from the cold winters of Canada. According to a recent survey by the National Association of Realtors (NAR), migrating Canadians to the Bradenton-Sarasota-Venice area accounted for 8% of foreign home sales in the Sunshine State valued at a total of nearly $8 billion from July 2013 to June 2014. The same study showed that Canadians accounted for 31.6% of total foreign buying in Florida during the period, up from 29.6% previously.

Upscale One88 condos

Canadian Developer Vandyk Ups Florida Interest

The Canadian developer indicated that it will look for further expansion opportunities in Florida. It emphasized though that it will continue its focus on infill projects and boutique high-rises, such as the One88 luxury condominium, the company’s first venture in the state.

Located in the upscale Golden Gate Point Peninsula a short distance northwest of Sarasota downtown, the five-story, eight-unit One88 is set for completion in August. One of the condominium’s two penthouses has already been sold as of May 2015, while a standard 3,034-square-foot unit has been reserved. These standard units are designed with three bedrooms and three-plus baths and are priced starting at around $2.4 million in the MLS of Sarasota condos for sale.

Orange Club townhouses

The choices of Sarasota homes for sale are more diverse at Vandyk’s Orange Club which is planned as a complex of three buildings with four-stories each. This property, located at 635 S. Orange Avenue corner Aldeman Street, is slated to start construction late summer of 2015. It will feature nine townhouses and 15 condo units with each residential type having five models to choose from.

The floor plans of the townhouses are at a standard 2,300 square feet, designed with three bedrooms and three baths and a half. The developer put at the $800s the starting prices for these townhouses. Besides their spacious and functional living areas, these residences are designed with spa-like baths and cozy rooftop decks.

Open concept condos

The Orange Club condos are as well-designed and come with floor areas ranging from 1,049 to 1,544 square feet and in configurations of two to four bedrooms. Inviting with their bright open concept, these units are studies in stylish and contemporary fixtures, high-end finishing, and spacious walk-in closets. The asking prices for these units start at just under the $500s and top at the $700s in listings of Sarasota condos for sale.

A swimming pool and a social area are among the planned common facilities for the residents. The Orange Club complex will also include about 3,500 square feet of ground-floor space for commercial tenants who can draw much benefit from the condominium’s proximity to Laurel Park and Burns Court, downtown localities which generate significant pedestrian traffic.

Landmark marina purchase

Vandyk is likewise optimistic on the continuing market success of the Seafood Shack it purchased, noting that it is “the only intracoastal marina, restaurant and bar from Tampa to Sarasota.” The developer said it will enhance the Shack’s aesthetics and hopes to again hit the restaurant’s peak of 2,000 customers a day.

The company is also gearing up to resume the establishment’s Intracoastal Waterway boat tours which were suspended because of problems with the Shack’s paddle-wheeler, “The Showboat.” Vandyk is hoping to source from either Alabama or Mississippi a replacement to this iconic tourist boat.