The first new Longboat Key condominium project in approximately six years will come one step closer to reality this week.
Demolition of the vacant Holiday Beach Resort is scheduled for Thursday, Aug. 1, to make way for the planned 11-unit luxury Infinity condominium at 4765 Gulf of Mexico Drive.
Nell Leffel, of Michael Saunders & Co., who is the listing agent for the project, said that four of the 11 residences are under reservation.
“We’re optimistic that we can convert those to contract by the end of the year, and once we convert those to contract, construction will begin,” she said.
Construction will begin when 50% of the dollar value of the property is under contract, according to Leffel.
Originally planned for the location was the 11-unit Bleu Claire condominium project, which was unveiled in 2007 but was put on hold because of the economic downturn.
Crossgate Partners LLC, of Atlanta, was the original developer of the Bleu Claire project and is now the developer for Infinity.
“Basically, it’s the same building footprint, but the design element of it has been modified slightly to reflect a more contemporary look,” Randy Moore, managing partner of Crossgate, told the Longboat Observer in March, after Michael Saunders & Co. unveiled plans for the new condominium.
Sarasota architect Mark Sultana, of DSDG Architects, is the designer.
The condominium will have nine units with three or four bathrooms each and two penthouse units. The first five buyers can customize their floor plans. Residences will have between 3,380 square feet to 5,456 square feet. Prices will range from $2,825,000 to $4.95 million.
“The sizes are basically comparable to a large single-family home,” Leffel said.
Features will include a private elevator lobby at each residence, two-car garages for each unit and three-car garages for penthouses, Gulf views, beachside infinity-edge swimming pool and spa and easy beach access.
Construction is anticipated to last up to 14 months.