Developer plans upscale Rosemary hotel

A $900,000 purchase of vacant land on 5th Street has set plans in motion for yet another hotel near downtown Sarasota, leading to speculation about the possibility of a downtown conference center.

Boston-based developer Jason Cincotta this week bought the 10,500-square-foot parcel fronting Cocoanut Avenue

to complete nearly an acre of property in the Rosemary District slated to be the site of a 76-room hotel. The project, currently called 599 Cocoanut Redevelopment, includes a restaurant, valet parking and two loading zones, for which the owner has applied for an adjustment to the city’s zoning code.

"The vision for the hotel is to create a resort-like atmosphere in an upscale facility with a high level of on-site amenities,” wrote planning consultant Joel Freedman in a letter to the city.

According to renderings posted on the the developer’s website, the building won’t exceed five stories, and wraps around a pool and bar area. “The Sarasota,” is featured as the hotel’s name in the drawings.

The project is just blocks from Jebco Ventures' permitted 18-story Embassy Suites and Vue Sarasota Bay, both of which will add a combined 455 rooms to the area. Though plans have not advanced after a pre-application conference with the city's Development Review Committee, Toronto-based Palsar Developments Inc. had proposed a 200-room Marriott Hotel on the North Trail.

Further into the downtown core, Floridays Development Co. plans to build a 10-story, 180-room hotel behind the Palm Avenue Garage.

"I think this bodes well for the community in terms of it being a destination for visitors, however I am concerned about vacancy rates in the long term," said Downtown Economic Development Coordinator Norm Gollub. "This should stimulate conversation about some type of conference facility so that these hotel rooms are occupied throughout the year and throughout season."

Gollub said plans have not been filed, but a 162-room Hampton Inn & Suites will be pitched for the corner of Cocoanut Avenue and Fruitville Road. And on the other side of downtown, Sarasota County is entertaining two proposals — both of which include hotel rooms — for county-owned land at the intersection of Main Street and Washington Boulevard.

In July, three county commissioners went on the record in support of a conference facility, with business partners Charles Githler and Andy Dorr working behind-the-scenes to build support for investment in such a venue.

"There are always quiet conversations in the background, but nothing specific as of yet," Gollub said.

Cincotta purchased the two parcels that will make up the hotel portion of the project for $1.6 million in April. The operator will use the recently acquired 10,500-square-foot property for valet parking and a loading zone. Because the city does not allow an off-site loading area, the plan will need an adjustment to the city’s code.

“They’re moving forward,” said Freedman, who could not give specifics on the project or timeline. Cincotta or representatives from his firm, Dwell Proper, could not be reached for comment.

Cincotta also bought the former Normandy Hotel on the North Trail for $1.27 million in June, though there have been no plans filed with the city for that site.

"There are seven hotels underway or in the works," Gollub said. "There's a lot of opportunities that can spin off of those — such as a conference facility."

Follow Alex Mahadevan on Twitter @AlexMahadevan.