Market Updates

Numerous Multifamily Housing Projects in the Works Throughout Downtown Sarasota

The skyline in downtown Sarasota. File photo: Sean Pavone, Shutter Stock, licensed.
The skyline in downtown city area of Sarasota, on the West Coast of Florida. File photo: Sean Pavone, Shutter Stock, licensed.

SARASOTA, FL – Numerous multifamily housing projects are currently in various stages of development in downtown Sarasota – which are looking to address a need for affordable housing for many residents – with several currently making their way through the city’s Development Review Committee (DRC) for approval and/or guidance. 

During their March meeting, the DRC – a group made-up of representatives of several departments throughout the city that regulate the development of various construction projects – went over the details of several developmental projects in the city that, if approved and successfully completed, would bring a number of apartments and condominiums of varying degrees of affordability to the city of Sarasota. 

The DRC functions more as an advisory board for developers, offering suggestions and advice on projects in order for them to qualify for approval by the city of Sarasota; simpler projects are usually approved administratively, while others are required to go on to either the Planning Board, City Commission, or both, to receive final approval. 

Among the projects currently in the works for downtown Sarasota include 780 SRQ Condominiums, a five-story, 34-unit building planned for a 0.67-acre site at Fruitville Road between Central and Cocoanut Avenues, and Sarasota Veterans Housing, a 10-unit low-income apartment development to house veterans at 1529 25th Street that will be comprised of a two-story building on a 0.43-acre site that will have five units on each of the two floors and an on-site laundry facility. 

Other projects include Sarasota Station, a 393-unit affordable housing development slated to be constructed on 7.8 acres at 2211 Fruitville Road and 625 Golden Gate Point, a nine-story 12-unit residential condominium building that will be located on a 0.5-acre site that is currently the home to two multifamily structures that will need to be demolished. 

Florida Gulf Residential specializes in the areas of SarasotaSiesta KeyBradentonLakewood RanchLongboat KeyVenicePalmer RanchOspreyAnna Maria Island and other Gulf Coast communities. Feel free to give us a call at (941) 304-1975 so we can answer any questions you may have.



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