A proposed eight-story condominium building serves as another sign of the rebounding residential market — and could make a significant impact on its Burns Court surroundings.
Today, the city’s Development Review Committee heard a proposal from Ron Chandler, a real estate investor hoping to purchase the property at 1505 Dolphin St. His vision for the land includes a six-unit, eight-story residential building, a stark contrast from the previous single-family home that occupied the property.
It’s also a stark contrast when compared with the property’s surroundings on Dolphin Avenue, which is lined largely with single-story businesses.
John Harshman, the real estate broker listing the property, said he’d heard from a mix of interested buyers — some hoping to build a residential development, and others eyeing the land for retail space. Although he declined to comment on how significant the interest in the land was, he noted that, though there had been an uptick in downtown residential development, many of the projects underway in the area have pre-recession origins.
Two nearby condo projects fit that description. One Palm, the hotel and condominium development located at Palm Avenue and Ringling Boulevard, was first targeted for a large condominium development in the mid-2000s. Sansara, which is being built at Ringling Boulevard and Pineapple Avenue, sat vacant for nearly a decade under the same ownership.
Considering those circumstances, Harshman said, he wasn’t surprised the proposed building stood out from its surroundings. Given the city zoned the property for a 10-story project, he said, the area is just now getting the type of development that has been envisioned for it.
“What was on here before was a single-family house that people lived in for years before the owner bought it,” Harshman said. “The area south of Ringling has not had a tremendous amount of development attention.”
Already, at least one of the development’s potential neighbors has expressed its initial approval toward a taller building in the area. Brooke Misantone, co-owner of The Bullet Hole, said he was fine with new bigger developments in the area, though he was not familiar with the particulars of the Dolphin Street proposal.
“It’s cool to see things popping up,” Misantone said. “Let’s not fight our manifest destiny.”
The project is still in its early stages: Thorning Little, the architect representing Chandler at Wednesday’s meeting, was seeking guidance from city staff regarding initial conceptual proposals. Although Chandler is contracted to purchase the land from Harshman, the deal is not yet finalized.
Still, both Little and Harshman indicated a belief that gaining approval from the city should be relatively straightforward — and that the development appears poised to move forward.
“We certainly hope it comes to fruition,” Harshman said.
Contact David Conway at [email protected].