The owner of the undeveloped property at the corner of Pineapple Avenue and Ringling Boulevard plans to build a luxury condominium building at the entry point into the Burns Square neighborhood.
The residential development, called Sansara, will be a 10-story building with 17 units between 2,300 and 4,700 square feet. In total, the building at 300 S. Pineapple Ave. will be about 45,000 air-conditioned square feet.
Matt Kihnke, the president of MK Equity, bought the property in 2005. Kihnke said constructing a luxury condo building at that property was always under consideration, but new zoning regulations and the market downturn caused his group to reconsider its options.
Eight years later, the group settled on the condo development, which Kihnke said should be completed around August 2015. The presale period will last about five months, concluding around the end of April. Construction is slated to take 13 months, and Kihnke hopes that process begins in May.
For more information about this development, check yourobserver.com and pick up a copy of this Wednesday’s Sarasota Observer.
Contact David Conway at [email protected].