Riviera Dunes: A Market to Watch as Palmetto Steps Up to the Plate


SARASOTA, FLORIDA, March 29th, 2017 – Riviera Dunes in Palmetto is likely to draw more market attention moving forward this 2017. This eclectic community rides on more besides the momentum of strong sales last year and draws added market mileage on the recent uptick of development initiatives in the city.

Two of these potential growth-drivers are set to open right at the outskirts of Riviera Dunes. One is the 250-room Sheraton Hotel set to begin construction in September this year just west of the single family homes of Northshore and the condos of The Palms at Riviera Dunes.

HQ Hotel and Healthcare Office

Riviera Dunes: A Market to Watch as Palmetto Steps Up the Plate

In February, the city commission of Palmetto approved rezoning of the hotel site and the conceptual general development plan for this facility which will serve as the headquarters hotel for the Bradenton Area Convention Center (BACC). Construction of the six-story hotel is expected to be finished in November 2019.

Palmetto’s city commissioners also recently approved a two-story medical office building off Haben Boulevard across south of the BACC. Notably, this 20,000-square-foot facility will be built just west of the Bel Mare condominium on Riviera Dunes Way which offers some attractive options to Bradenton and Sarasota condos for sale.

Condos Flex Market Strength

Sales of condos at Riviera Dunes have been quite brisk in recent months with Bel Mare figuring prominently amongst buyers. Seven units were sold in this 15-story condominium during the last 12 months, topped by a 4,000-square-foot penthouse sales-listed for about $1.3 million, which was sold last December.

Reflecting the vibrant mood of the local condo market, another Bel Mare penthouse was sales-listed sometime end-2016 with a tag price of close to $1.5 million. This unit, which has a floor area of 3,420 square feet designed with four bedrooms and four baths, is prized for its views overlooking the Riviera Dunes Marina and the Manatee River.

The sales listings in Bel Mare in recent months are at easier price points around the $300s. These units have living areas ranging from 1,834 to 1,978 square feet designed with two bedrooms and two baths. Built in 2010, this condominium offers various amenities including three heated pools, spas, four guest suites, billiard and social room, full-workout center, and two theaters with an onsite restaurant. 

Coveted Laguna Complex

Just south of Bel Mare, Laguna at Riviera Dunes is another Palmetto condominium worth putting on a buyer’s watch list. Constructed in 2004‒2007, this condominium complex offers a laid-back lifestyle and a remarkable collection of amenities, such as a clubhouse with a catering kitchen, resort-type pool, fitness center, tennis courts, and outdoor grills.

Prospective buyers, with the help of an alert property broker, can have a heads-up on coveted Laguna sales listings priced from the low $200s up to the $300s. Units sold recently at these price range have two to three bedrooms within floor areas of between 1,700 and 2,230 square feet. One of these Laguna condos was sold less than three weeks of its listing, a cue to the exciting developments rapidly brewing in the Palmetto and Riviera Dunes property market.