Quay sale marks key moment for bayfront

The sale of the former Sarasota Quay site could have a significant impact on the future of the area, particularly at a moment when the city is attempting to map out the development of its own bayfront land.
GreenPointe Communities, a subsidiary of Jacksonville-based GreenPointe Holdings, announced its purchase of the Quay property for $27 million in a statement Friday. The 13.9-acre bayfront parcel, located near Fourth Street, has been vacant since 2007 after a planned mixed-use development fell through.

GreenPointe said it will move forward with planning and design on a project that can link downtown with the Arts District and will include residential, commercial, retail and hospitality elements. GreenPointe bought the site from the Irish government, which owned the property following a foreclosure.

“Our company is poised to bring this important parcel to life for Sarasota residents and visitors alike,” GreenPointe Chairman and CEO Ed Burr said in a statement.

Because of the property’s location and size, it’s been considered a prime development opportunity. As the Sarasota Bayfront 20:20 group has worked to develop a master plan for the future of a 42-acre swath of city-owned bayfront land around the Van Wezel, it has also considered how adjoining private properties — including the Quay — could fit into its vision for a publicly accessible waterfront area.

Michael Klauber, the leader of Bayfront 20:20, said he hasn’t had contact with a representative from GreenPointe yet. Still, he said, the sale represents at least one crucial step: There’s now someone for Bayfront 20:20 leaders to talk to regarding the future of the Quay property.

“I think it’s a positive,” Klauber said. “You have a purchaser, so we can start to move forward.”

He hopes that a dialogue will begin soon, and GreenPointe spokeswoman Susie Wiles indicated the group would speak to Bayfront 20:20 leaders. Before he can speak to any benefits that GreenPointe could potentially derive from working alongside Bayfront 20:20, Klauber needs to learn the company’s priorities when developing the land, he said.

In the past, however, Bayfront 20:20 leaders have said it could behoove private organizations to account for the master planning nearby when developing the Quay property.

“We want to be good listeners — we don’t yet understand what their goals are,” Klauber said. “In a perfect world, there would be a symbiotic relationship.”

Burr, a prominent business leader in the Jacksonville area, founded GreenPointe Communities in 2008. Other firms he has founded and run have designed and developed more than 30 master-planned communities and developments across the Southeast.

GreenPointe will follow a few others that have tried to buy and redevelop the Quay site. Irish developer Patrick Kelly bought the site in 2004 and demolished the buildings. Kelly’s plans called for a $1 billion condominium, retail, office and hotel development. Despite obtaining city approval for nearly 700 condominium units, about 190,000 square feet of retail space and 40,000 square feet of office space, the plans fell through following the recession.

That site plan, approved in 2007, is still valid for the property until 2017. In February, GreenPointe — then contracted to purchase the Quay property — requested a 20-year extension on the site plan. At the time, the group expressed its intent to develop a project “generally consistent with the entitlements the City Commission has already approved.”

The commission denied the extension request, and GreenPointe moved on. The group’s interest didn’t wane, however, as it closed on the purchase 10 months later.

Going broader
As they await news on the future of the Quay site, Bayfront 20:20 leaders have continued to plan additional meetings aimed at developing broad community input.

The next community events are scheduled for Jan. 10 and 11. The first, “Bay Brews,” will be held at JDub’s Brewing Co., and the “Sunday Supper Open House” will be held at the Robert L. Taylor Community Complex in Newtown.

At an early Bayfront 20:20 meeting, consultants stressed the importance of appealing to a more diverse audience as the process moved forward. Next month’s meetings are designed to help facilitate that broader conversation, Bayfront 20:20 spokeswoman Candice McElyea said, as the group continues to engage younger people and minority communities.

“We’re really busy expanding the conversation across the community,” Klauber said. “We want to get the pulse of this diverse community.”

BY THE NUMBERS
13.9 acres — total size of the property

42 acres — size of the city-owned bayfront land for which Sarasota Bayfront 20:20 is developing a master plan

695 — number of residential units the property is currently zoned for

2017 — year in which the current site plan approved for the property expires