The multimillion dollar public works and property development projects set in Longboat Key promise to keep construction activity in the town at a record pace this year up to 2016.
For the town commission, a three-phased sand replacement project along the most highly eroded beaches of Longboat Key heads the to-do list. This undertaking is estimated to cost a total of $27 million with over half of this amount allocated for beach renourishment at the central part of the 10-mile long barrier island.
Permits from the state government for this project have already been obtained, and only the federal authorization remains pending as of July 2015. Once this final permit is received, sand placement can start in late summer of this year or in early fall. Work would halt the during peak tourist season to avoid traffic issues with dump truck sand deliveries, and the beach renourishment project will resume in the offseason mid-April when traffic is lighter.
Besides the mid-key hotspots, sand replacement will also be undertaken on the town’s southern end, benefiting such residential properties as L’Ambiance and Sanctuary, two popular destinations in searches for Longboat Key condos for sale. The project will likewise cover the north end of Longboat Key wherein the sand to be used will be dredged at the nearby Longboat Pass.
In property developments, the frenetic activity is evident in the hectic pace that the town’s planning, zoning and building (PZB) department is granting construction permits. At the current rate, the number of building permits issued for fiscal year 2014-2015 is bound to surpass the historic highs of 3,782 in FY 2008-2009 and 3,589 in FY 2013-2014.
In addition to permitting various renovations and additions, the PZB has granted building permits for 20 new single-family homes as of June 2015, including the luxury residence of fashion designer Michael Kors. These new builds are mostly on the beach and come with major price tags in the $3 million to $7 million range.
Two new luxury subdivisions are also in the pipeline in Longboat Key. One of these is Triton Bend located mid-key and programmed for only 13 high quality custom-crafted homes of beach-to-bay construction. Recent deals of Longboat Key homes for sale in this development were closed at prices of up to about $1.4 million.
Another new Longboat Key community, the 3.48-acre Bonaire, is just as exclusive with just nine homes, three of which are directly gulf side between the luxury condos Club Longboat on the north and Positano on the south. The residences in Bonaire are pool homes with floor areas ranging from 2,800 to 5,000 square feet and priced starting at around $3 million, a level approximating the valuation of a three-bedroom, 3,156 square-foot unit at Positano. Pricing is more moderate at Club Longboat where a new listing for a three-bedroom unit with a floor area of about 1,500 square feet is on the market at the upper $500s.
Two new condominium developments further add to the building frenzy in Longboat. One is the Aria which already sold out all of its 17 units at $3.5 million each. The Infinity is another which has a total of 11 units priced in the $3-5 million range. This condo is just two blocks of the former Hilton hotel in Longboat Key which is also being redeveloped to add to the town’s frenetic construction activity.
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>>