Development of residential properties in downtown Sarasota continues to heat up along with conscientious efforts to preserve the city’s historic legacy. This thrust to preserve the downtown’s cultural heritage manifested a new with the retention of the facade of the vintage DeMarcay Hotel and Roth Cigar Factory at 33 South Palm where construction of new additions to Sarasota downtown condos for sale started early in November 2014.
XAC Developers of Illinois unveiled in late October the renderingsof this 18-story residential condominium preserving the facade of the DeMarcay and Roth Cigar Factory, both of which are listed on the National Register of Historic Places. The hotel was built in 1925 while the factory was constructed in 1916. Combined, the pair occupies an 8,643-square-foot parcel adjacent to the high-rise condo 1350 Main.
The new condominium rising on this South Palm site is poised to add 38 new Sarasota condos for sale. It will house four units at each floor from levels five to nine. Levels 10 to 18 will have two units per story. Including their terraces, the condos’ floor plans will range between 1,005 square feet and over 3,000 square feet. Expect starting prices at around the $600s in this condo.
The building will feature a progressive modernist architectural style, featuring an elevator-based parking system. These so-called sky garages were adopted not only for the convenience, security and privacy for the residents but also to provide emphasis on the appeal of the lifestyle in downtown Sarasota.
The new South Palm tower will likewise feature a rooftop pool which shall afford a commanding view of Sarasota Bay and the city. With the classic frontage of the condominium retained, the building will remain in harmony with its neighboring Mira Mar block of apartments, shops and restaurants.
Also at South Palm Avenue, effort by some residents is gaining headway to stave off the impending demolition of the La Palme Royale, a bed and breakfast (B&B) structure built in the 1920s associated among others with turn-of-the-century developer Owen Burns. The City Commission has waived the $1,000 filing fee to appeal an earlier approval by the Sarasota Preservation Board to demolish the building and have it moved elsewhere and a historical marker put up in its original site. An 18-story condominium has been proposed for the vintage B&B’s site at 624 South Palm.
Less controversial though is the construction of a $20-million mixed use development at the Rosemary District for which the City Commission signed the deal in September 2014 with Sarasota developer Mark Kauffman. This venture is in partnership with Parker Investments and calls for the construction of a complex with 61 residential units, 16,000 square feet of retail space, and 15,000 square feet of office space. Construction could start as early as next year, and a movie theater is also being planned near the development’s site at 1440 Boulevard of the Arts and 1433 Fifth St.
Likewise moving ahead at the Rosemary District is the Vanguards Loft, an infill project at 1343 4th St. near Central Avenue.This property is being developed by San Francisco, CA-based Tetra Terra Development at a cost of $2.8 million.
The construction of Vanguard Lofts is expected to be finished by June 2015, thereby adding more choices on Sarasota condos for sale. Envisioned as a boutique project, this development features six one-story and townhome-style condo units. Starting prices for each unit have been placed at between $530,000 and $745,000.
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>>