Downtown Sarasota has seen a burst of development since 2019 and is poised for further growth in this next decade. This is an exciting time for this thriving city on the gulf coast of Florida.
According to the most recent City Development Report, all of the completed and new developments citywide are expected to, in just the next few short years, add 1,416 apartments, 1,860 condos or townhomes, 1,297 hotel rooms and 748,597 square feet of commercial space.
Among the larger projects now completed are the $70 million The Mark, an 11-story building with 157 condos and retail/office space at Pineapple and Lemon avenues. Also just completed in 2020 is the $69 million BLVD Sarasota, an 18-story, 49-unit condo overlooking the bay at U.S. 41 and Boulevard of the Arts. With sales underway The Bayso is set to be completed in 2023. Bayso, a $90 million, 18-story mixed-use building will include 149 luxurious condos as the first piece of redeveloping the bayfront Quay Sarasota site. Many other condominiums are also in progress such as the Demarcay and Epoch, both on Palm Ave.
Downtown Sarasota has always been a sought after area for those seeking the fusion of residential with urban attraction, complete with arts events, a beautiful waterfront, shopping and dynamic restaurants. Now with plans in progress for The Bay and The Quay, a re-envisioning of our beautiful city will blend the waterfront side of I-41 and the downtown side of I-41. The Bay is a master planned park that will enhance 53 acres along the Bayfront to provide green space, trails to include over-water glass walkways for marine education, gardens, open-air event venues and pedestrian bridges crossing I-41 to connect the residential areas of the Rosemary District, Downtown and the Bayfront. In addition, adjacent to The Bay along the Bayfront, the old site of The Quay is being developed to bring restaurants and businesses directly to the Bayfront.
To gain a closer look at the Downtown Sarasota Market, below you will find the averages for the last 6 months of activity.