A 9.5-acre parcel off School Avenue, which won city approval in 2009 for a controversial mix of townhouses, condominiums and retail space, has been put on the real estate market for $10.89 million.
Called Payne Park Village, the development was proposed more than six years ago, in spite of protests by residents of the adjacent Alta Vista neighborhood.
Michael Saunders & Co. has listed the property, which is just east of the 36-acre Payne Park. The parcel faces School Avenue and connects to both Ringling Boulevard and Fruitville Road.
The city permits for development are good for 10 years, according to the agreement with owner Ron Burks, who had paid $4.54 million for the parcel.
Sarasota resident and developer Burks had proposed the development of the property in 2005; he hoped to break ground in 2007. It took him more than three years to win the necessary zoning change for the site, from residential-multi-family use to downtown mixed use/downtown core, and to receive project approvals.
However, nearby residents took issue with the zoning change and Burks’ initial plans. They protested the design of a high-rise project so close to their neighborhood. They repeatedly fought Burks during City Commission sessions and other city meetings.
Burks scaled back his plan several times, to try to accommodate the residents. More than one set of city commissioners reviewed the designs.
Instead of 450 condominiums in towers as tall as seven stories, as he originally had envisioned, Burks received approval in March 2009 to build 238 town homes in structures no higher than four stories, plus 120,000 square feet office space, a 100-room hotel and 19,000 square feet of shops.
After the recession began, Burks did not proceed with the project. The land remains vacant.
Burks did not return a phone call seeking comment.
Payne Park Village property overview
The Payne Park Village mixed-use parcel off School Avenue lists the following phases for sale, either separately or combined for a total cost of $10.89 million:
• Phase 1 — 5.75 acres. Intended use is a 112-unit residential community consisting of nine, four-story buildings. Offered at $5,965,000.
• Phase 2 — 1.46 acres. Intended use is 80 residential units and 20,000 square feet of office and/or retail. Offered at $1.1 million.
• Phase 3 — 1.46 acres. Intended use is 46 residential units and 53,000 square feet of office and/or retail space. (no price listed for phase 3)
• Phase 4 — 0.87 acres. Intended use is a 110-room hotel. Offered at $1,925,000.