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DeMarcay Hotel
Sarasota Thursday, May 19, 2016 5 years ago

DeMarcay developer shares construction plans

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After a judge ruled against residents attempting to block the project, the developer of the high-rise DeMarcay project on Palm Avenue will begin construction in June.
by: David Conway Deputy Managing Editor

Another high-rise condominium project is prepared to break ground in downtown Sarasota.

Construction on the DeMarcay, an 18-story, 39-unit building planned for 33 S. Palm Ave., is scheduled to begin June 15. XAC Developers plans to complete the project within 18 months, the group announced in a release.

The project is being built on the site of two historic Sarasota properties: the DeMarcay Hotel and the Roth Cigar Factory. Per an agreement with the city, the developer was required to preserve the facades from those buildings and incorporate them into the new project.

The development was met with some controversy. In March 2015, the 1350 Main Residential Condominium Association filed suit against XAC Developers and the city, arguing that the project’s site plan — originally approved in 2007 — should have expired in January 2015. The city issued a building permit for the project in October 2015.

At Monday’s City Commission meeting, City Attorney Robert Fournier reported that a judge had recently ruled in favor of the city and developer in that suit.

In addition to the 39 condominium units, the $23.7 million project will include 2,890 square feet of commercial space on the ground floor. Condo units start at $500,000 and top out at more than $3 million.

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