Developer advances bayfront condo plans

Plans for a residential building near the Hyatt Regency have been adjusted, but the developer still plans to build an 18-story tower.

By David Conway
| 6:00 a.m. September 6, 2018

A development group plans to build between 50 and 60 residential units in an 18-story condo next to the Hyatt.

Sarasota
News

The owner of a Boulevard of the Arts property next to the Hyatt Regency Sarasota is moving forward with plans to construct an 18-story condominium near the bayfront.

Bota Developer LLC filed documents with the city in August seeking an alley vacation as part of an effort to build on about 1.25 acres near 1000 Boulevard of the Arts. The project team includes Hyatt owner Kiran Patel and Sarasota developers Jay Tallman, Andy Dorr and Charles Githler.

The developer previously introduced the concept for the site at an October community workshop. At the time, neighbors expressed some concern about the scale of the project — particularly the massing of the building along Boulevard of the Arts.

Since that meeting, the building has been slightly scaled back, Tallman said. Although the plans still call for an 18-story high-rise, the proposed number of units has been reduced from 80 to somewhere between 50 and 60. That change has allowed the developer to move some of the building back from the street, Tallman said.

“I think it should be well-received,” Tallman said.

Development roundup

On Aug. 30, the owner of the property at 111 Golden Gate Point filed for a community workshop regarding plans for an eight-story, 20-unit luxury condo building.
According to WB Golden Gate LLC, the developer hopes to break ground on the project in the first quarter of 2019. Units will range from $1.3 million to more than $3 million.
On Aug. 31, Marie Selby Botanical Gardens filed for a community workshop regarding a master plan for improving the 14.7-acre bayfront property.
Plans include a 67-foot-tall parking structure with rooftop restaurant and ground floor retail space, a 50,000-square-foot greenhouse complex, a 20,000-square-foot plant research center and a 12,500-square-foot welcome center.
On Aug. 29, representatives for Noble Equity filed preliminary plans for a residential development on a 5,250-square-foot property at 1243 Second St. The plans call for a seven-story, six-unit condominium building. The property is currently vacant.

Although some residents may be fatigued by the number of new 18-story condo buildings near the water, Tallman said the market remains hot for those types of luxury residential projects.

“There’s very little opportunity to get water views, at this point, from any sites,” Tallman said. “There remains a strong demand in this market for this type of location.”

Tallman said the developer is no longer seeking a complete closure of the alley. Instead, the project team hopes to gain city approval to build over the alley while maintaining access. In total, the developer is asking the city to vacate about 2,611 square feet of alley and right of way.

The city has scheduled a community workshop regarding the requested alley vacation at 5:30 p.m on Sept. 27 in Room 112 at City Hall.

A Patel-led group purchased the Hyatt property in 2016 for a listed price of $57.8 million.

At the October workshop, Dorr said construction on any project likely wouldn’t begin until 2020 at the earliest. The plans have been adjusted, but the developer is still reluctant to divulge additional information, as the project remains subject to change.

“Things are still somewhat fluid,” Tallman said. “I don’t know that we’re prepared just yet to reveal details because they’re still moving.”