Building cranes punctuate the skyline, new shops and restaurants dot the streets; and several major infrastructure upgrades—including the new State Street parking garage and traffic roundabout at Orange Avenue and Main Street—have just been completed downtown Sarasota. Now, a city once accused of rolling up the sidewalks at the end of each day steps-out and stays lively until long after the sun goes down.
Thanks to the hundreds of millions of dollars streaming into new residential development downtown and along the bay, the city’s commercial real estate landscape is looking equally bright.
Currently under construction—or in some stage of permitting—are no less than 15 major construction projects involving new condominiums, town homes, rental apartments, hotels; and commercial spaces.
Within easy walking distance of downtown Sarasota, these projects have already attracted sizable numbers of new residents to the neighborhood, along with the increased tax base and high levels of discretionary spending their presence will generate.
Entrepreneurs please take note: With over 1,300 residential rental units, hundreds more condominiums and over 1,000 new hotel rooms rolling out in downtown Sarasota over the next few years, new shops, restaurants, and other commercial services will be needed to cater to this major new influx of year-round residents and visitors. See more Sarasota New Construction
New construction is about to begin on the 20 Boutique Condo residences at 1500 State Street. Along with the residential options, there is an additional 16,000 square feet of commercial and office space in this prime Downtown Sarasota location.
Sarasota’s Rosemary District
Downtown Sarasota’s Rosemary District is also poised for redevelopment, with many of the aforementioned residential and hotel projects situated in or near the historic 128-year-old enclave.
When all is said and done, nearly 800 new apartments, 100 new condominiums and nearly 50,000 square feet of office and retail space will bring new life to the once-blighted neighborhood.