SARASOTA, FLORIDA, July 28th, 2016 – Development of its final phase has stepped up in the Hidden Bay condominium in Osprey, and in the past few months, its additional units and resale condos have already been contributing to a healthy supply in the Sarasota County market.
Inventory of condominium units in Sarasota as of June 2016 was again estimated at slightly above a five-month supply, a level that has been the norm since February 2016. Supply during the 2015 second half can be expected to hit the 5.5-month balanced market favoring neither seller nor buyer in pricing, with other condo projects going full blast in downtown Sarasota.
Osprey is in the thick of the action as well, with the last remaining sites in the gated 14-acre Hidden Bay condominium complex now being developed as a neighborhood called Edgewater. This final phase, which was stalled by the Great Recession, consists of a total of 52 condo units planned for three five-story buildings just off Little Sarasota Bay.
Prospective buyers can look forward to early delivery of Edgewater units as water, electric and sewer infrastructures were already put in place for this phase before it was shelved. Various amenities have also been developed in the Hidden Bay complex including a newly updated lakefront clubhouse with a recreation room and fitness center. Adjacent to it is a heated swimming pool and spa, and a barbecue area and tiki bar. A boardwalk, fishing pier, and kayak launch are some of the other facilities in this lushly landscaped property.
Located south of Spanish Point just off the Tamiami Trail, Hidden Bay has two built-out neighborhoods. Their residences are housed in Key West-style buildings with metal roofs, white railings, exterior stairwells, and spacious decks and lanais.
This two existing neighborhoods, Baypointe Vista and Lake Pointe Vista, are likewise potent sources of Sarasota condos for sale. Hidden Bay’s resale market has been active with seven units sold in the 12 months ended June 2016, dealt at prices between the $200s and the $400s. These sold condos feature floor plans ranging from 1,500 to 2,100 square feet.
Current listings of Sarasota condos for sale already include two pre-construction units in Edgewater at Hidden Bay. These units are priced in the $500s, featuring three bedrooms within floor areas of about 2,000 square feet.
Besides having a gated community entry, Edgewater’s layout flaunts private entrance lobbies, elevator access to each floor, and under-building parking. Of coastal architecture in design, its buildings’ plan calls for concrete block construction with hurricane impact-resistant windows and doors plus high-efficiency central air-conditioning.
All residences in Edgewater offer bay views and, like their neighbors, enjoy proximity to life and leisure amenities not only in Osprey but also to those in Sarasota as well. The nearby commercial establishments include the Walmart Supercenter just across the Tamiami Trail east of Hidden Bay.
A short distance north via the Trail, shopping and dining opportunities are even more plentiful at the Westfield Square Mall. Within easy reach as well are sports and recreational venues at the nearby the Sarasota Family YMCA at Potter Park and at the Oscar Scherer State Park. Topnotch golf courses are close by too, including Stoneybrook and Oaks Club where membership fees are quite reasonable. Additionally, a full-fledged marina is nearby to round out the attractions of the new condos of Edgewater.
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>>