Property involved in failed Key referendum is for sale

A property involved in a failed 2016 Longboat Key referendum is on the market.

6960 Gulf of Mexico Drive, which includes a 5,401 square foot office building, was listed for sale in February.

The property is priced at $1.1 million and is being sold for commercial use. It once housed a bank but has long been vacant.

Real estate broker Michael Saunders & Company is managing the sale.

In August 2016, the location was one of eight adjoining properties considered in a referendum. If passed, the referendum would have allowed Sarasota-based developers Floridays to apply for 105 additional units from a pool of 250 tourism units, which were approved by Key voters in 2008.

Floridays had proposed to build a 120-unit, four-story hotel on the adjoining properties.

The referendum was rejected by 78% of voters.

Early in March, the property’s owner made improvements to the location, which included repaving the parking lot.