Townhouses planned for downtown Sarasota

This summer, downtown Sarasota will see the opening of an unorthodox housing development — something that is not a condominium.

The Q, which Jebco Ventures is developing, is located at 1750 Ringling Blvd. The 40-unit development of two- and three-story townhomes is still awaiting the final stages of approval from the city’s Development Review Committee, but after receiving site-plan approval last summer, the project appears set to move forward.

Jebco CEO Jim Bridges said the townhome concept was unique for downtown Sarasota, and that it had some appealing factors that a condominium did not. Bridges said the project was aimed at the type of people interested in single-family home ownership who wanted to remain close to the heart of the city.

“To my knowledge, there hasn’t been more than one townhome project downtown in the past 20 years,” Bridges said. “We found there were certain advantages there.”

The Q has seen some delays, as the developers originally sought to have some units completed by December. The only remaining hurdle with the city is approval of a subdivision plat outlining townhouse-unit divisions, which members of the Development Review Committee indicated could be granted with minor tweaks in the upcoming weeks.

If the project receives a final OK from the DRC, Bridges said some owners would begin receiving their properties as early as June, with final completion of the construction in February or March.

Despite the delay, Bridges said early sales have borne out his belief that there’s a demand for townhouses in downtown. About 50% of the units have already been sold, he said.

“We’re exceeding our expectations from that standpoint,” Bridges said. “We’re projected to sell out before completion.”

There’s still more work to be done to finish The Q, but Bridges already has his eye on a new site for more townhomes. Jebco is developing Allure, a 12-townhouse project, for a location in Golden Gate Point.

Bridges expects work on that project to begin in July.

Bridges said that Golden Gate Point’s inundation of condominiums made it an appealing site for a different housing project.

“It’s an excellent location for townhomes,” Bridges said. “There’s a demand for condos, but there’s most definitely a market for townhomes, as well.”

Contact David Conway at [email protected]