The appeal of Siesta Key as a leading beach destination in the U.S. looks en route to getting an added boost from high-end shopping establishments, Sarasota Bay Real Estate reports. This growing presence of upscale shops mainly centers on the southern end of the main road for Siesta KeyVillage – Ocean Blvd. just west of the residential neighborhoods of Palm Bay Island and the Siesta Isles subdivision.
In the beginning of 2014, the Sarasota County Commission approved a special permit exception for the construction of a three-story building with both rental and retail space at a former restaurant site on Ocean Blvd. A high-end apparel retailer, Gidget’s Coastal Provisions, was reported as planning to acquire the lease on the building’s ground floor. Already, the Sarasota downtown-based Lotus Boutique, known for its upscale fashion items, has set up shop at Ocean Blvd.
According to local reports, the new building’s owners, Syprett and Jay Lancer, favor an upscale retail locator despite competing offers from several restaurants. This thinking reflects a sentiment among Village entrepreneurs that there’s still room for improving the dining and retail mix in their locality. The emphasis though would be on the quality of goods for sale rather than the number of shops. At present, the roster of Siesta Key Village Association business establishment lists 13 retail shops which compare with the 17 restaurants in the area.
Hanna Plaza also at Ocean Blvd. near Beach Bazaar is likely to be an epicenter of new high-end shops locating in Siesta Key. The Benderson Development group could emerge as one of the prime movers of growth in this area.
Since the start of 2011, this company was reported to have spent an estimated $2.7 million in Siesta Village properties, including several Hanna Plaza land parcels. Benderson’s plan is to add over 8,000 square feet of new retail space in its property.
Market attention on nearby communities like the Sarasota Beach can also be enhanced by these brewing changes in the business profile of the Village. In this neighborhood there are buying opportunities from a buildable lot over vacation rentals to luxury homes. Single family homes are available from 1500 sq. ft to 4000 sq. ft. and start around $550,000.
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>>