New condo proposed at busy Quay Sarasota
Rendering of proposed 18-story, 150 unit condominium (image: SB ARCHITECTS)
Kolter Group submits plans for 150-unit condominium.
SARASOTA, Fla. – Construction at the once-quiet Quay Sarasota continues to speed up.
The Kolter Group has filed plans to build an 18-story, 150-unit condominium on the southeast corner of the bayfront tract, which would be the third project on the site.
Kolter has a contract to buy a one-acre site from GreenPointe Communities of Jacksonville, which bought the Quay property in late 2014 and is developing a $1 billion “urban village” with buildings on nine separate blocks of land.
Kolter is already under construction with the 73-unit Ritz-Carlton Residences on a 1.9-acre waterfront site. It is next to the Ritz-Carlton hotel and will be part of a combined campus. Occupancy is slated for late this year.
In addition, Lennar Multifamily plans a $150 million project that will contain 240 luxury apartments and about 14,000 square feet of retail and restaurants in a 12-story building on 1.65 acres along the North Trail. That building will contain a fifth-level “amenity deck” overlooking the one-acre Central Quay park and the boat basin.
The newly proposed condo will be on the eastern boundary of the 14-acre Quay, in what will be the southwest quadrants of the roundabout being constructed at U.S. 41 and Fruitville Road at the Quay entrance. Kolter has filed for site plan approval with the city.
The entire development — known for decades as Sarasota Quay, briefly as Sarasota Bayside and now Quay Sarasota — will reshape the bayfront and downtown. It is approved for up to 695 dwelling units, 175 hotel rooms, 189,050 square feet of space for shopping and dining uses, and nearly 39,000 square feet of office space in buildings that can span 18 stories.
Quay Sarasota is coming online amid a post-recession boom of residential and commercial construction in downtown, the Rosemary District and other areas of the city.
GreenPointe also is restoring the 93-year-old Belle Haven that sits in the center of the Quay. Once compete, it will become temporary office space for GreenPointe, with long-term uses that could include banks and medical tenants.
Built in 1985, the original Sarasota Quay was named to suggest European dockside luxury, but after 20 years it was better known for its high vacancy rate and a nightclub that drew frequent calls to city police. The property had been vacant since 2007, when Irish developer Paddy Kelly razed the nine-story main building and other structures. His overly ambitious development plans never got off the ground.
