- June 25, 2026
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Other than a remaining Florida Power & Light vault, the site that was the former Hyatt Regency hotel and parking structure has been cleared, the building permit submitted to the city and sales of the 117 condominiums have reached the 20% mark.
According to Kolter Group Senior Vice President Ed Jahn, everything is on schedule to begin foundation work on 1000 Boulevard of the Arts in the third quarter of 2026 with vertical construction beginning in the first half of 2027.
More than the condos, the L-shaped building adjacent to The Quay will include a 174-room Hyatt Centric hotel integrated into the mixed-use development, an upgraded replacement of the 50-year-old former Hyatt Regency.
The developer recently released new renderings to showcase some of the interior common spaces within the Hyatt Centric.
According to the Hyatt website, the company introduced the Hyatt Centric lifestyle brand in January 2015, the collection targeting modern, “millennial-minded travelers placing guests directly in the heart of the action in prime destinations.”
When Kolter builds a hotel, Jahn said the company typically searches the market for the brand and manages the property through its hospitality division. In this case, though, a Hyatt-flagged hotel was a foregone conclusion.
“In this particular location, we owned the Hyatt that was on an adjacent parcel, and so we knew it was going to be a Hyatt brand hotel,” Jahn said. “We worked with Hyatt to select which brand within their portfolio they and we felt was the best fit for Sarasota.”
Unlike the former Hyatt Regency, though, the hotel portion of the building will not have frontage along Boulevard of the Arts. That will be reserved for residences providing forever unobstructed views overlooking The Bay park and Sarasota Bay. The hotel will run perpendicular to the condo location beneath six more floors of residences.
Elevators and lobbies for residents and hotel guests will be separate.
Similar blended-use developments are trending, but to date Kolter has been built them “sparingly,” according to Jahn.
“We've done it a few times in different communities,” he said. “The hotel ends up being an amenity to the condos in many ways, where if someone buys one of the smaller residences, but they have family or friends who are coming, they're able to both be at the same location.”
The entry point for the residences at 1000 Boulevard of the Arts starts at $1.5 million for a 1,400-square-foot unit. At the top of the price structure, and the top of the building, is a $4.6 million, 3,100-square-foot penthouse. Units along Boulevard of the Arts are being marketed as “bay view” and those atop the Hyatt Centric “harbor view.”
“We tried with this Boulevard of the Arts project to fit the residences, both in size and price, into a niche within the market that we felt needed more, so we have a lot of residences that are around the $1.5 million to $2.5 million.” Jahn said. “In today's market for a condo, that's kind of the sweet spot for a lot of buyers, and so we purposely tried to get this building in that niche.”
Should construction proceed on schedule, Kolter expects occupation of 1000 Boulevard of the Arts in late 2028.
The 1000 Boulevard of the Arts project won’t occupy the entire former Hyatt site. Kolter plans to build a second, unrelated condominium tower to the west of the current project. No plans have been submitted for that project.
