SARASOTA, FL – A new mixed-use tower is slated to grace the less bustling end of Sarasota’s active downtown area as SOTA Hotel & Residences is scheduled to break ground this summer, making the establishment the only hotel on Main Street once construction is completed.
The $115 million, 16-story luxury project, being headed up by Trepp Developments, is expected to help in encouraging more public activity on the section of Main Street that it will be occupying, according to company owner Rodrigo Trepp.
“SOTA Hotel & Residences will elevate the second half of Main Street and tie up loose ends with the other, busier end of downtown,” he said.
Once done, SOTA – which will be located at the corner of Goodrich Avenue and Main Street – will be one of the tallest buildings in Sarasota east of Five Points, and despite a glut of such lodging options in the region, Trepp said that SOTA will stand out from the pack and be successful.
“There’s a lot of building going on and prices are high but I think the west coast real estate market is strong. You just have to deliver a good product with great services,” Trepp said. “The demand is still strong and our prices are relatively competitive.”
When they open their doors for business, SOTA will have 35 condominium residences spanning six floors, 120 hotel rooms managed by Tapestry Collection by Hilton, and a 4,500-square-foot restaurant on the ground floor.
Condominiums in SOTA will range in cost from $1.7 million to $5 million, Trepp said, and amenities include indoor and outdoor pools; a restaurant and lounge; a fitness center; a private residential massage room; a four-level, 121-space parking structure; and a meeting space.
The completion date for SOTA Hotel & Residences has not yet been finalized.
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Christopher Boyle is an investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher helps keep a keen-eye on what’s happening on the West Coast of Florida on behalf of FLORIDA GULF RESIDENTIAL – Your Real Estate Expert for Sarasota and Surrounding Areas.