Developers of Palm Avenue hotel buy land for hotel in Nokomis

Nokomis will see a four-story, 100-room Hilton Home2 suites before the end of the year if county officials approve a site plan submitted by developers.

Floridays Development, in partnership with Michigan venture company Lodgco, closed on the property, comprising several parcels at the southwest corner of US-41 and Albee Road, on Dec. 30. They purchased it for $2.2 million.

Casey Key Hospitality, LLC, the corporation under which Floridays and its partners purchased the land, is also developing Hotel Sarasota on Palm Avenue, near the Sarasota Opera House, according to Dennis Dahm, the Michael Saunders broker who represented each side during the sale.

Steve Mullen, Floridays partner, said he expects its submitted site plan to be approved within two weeks and that a special exception to build the hotel was already in place from the efforts of previous owners, Finergy Nokomis. Sarasota County Planning and Development records show a rezone and special exception petition filed by Finergy in 2006 and adopted by the county.

In compliance with Nokomis’ revitalization efforts, Mullen said, the hotel will have a “Key West” design, including pastel colors, and tie in with the “old florida” feel of the south end of Casey Key.

He said they expect the hotel to be complete by the end of 2016.