Lots in the Coronas Park neighborhood will be sold individually for the first time.
In a destination such as Siesta Key, it’s not uncommon for homes to fly off the market. What’s rare is the sale of an entire neighborhood.
But that’s exactly what happened when a few local investors purchased the last undeveloped gated community on Siesta Key.
Coronas Park LLC through the Ware Group purchased the Coronas Park neighborhood, located on Bochi Circle just off Ocean Boulevard and Givens Street, for $6.35 million.
The neighborhood is comprised of five homes and another eight buildable lots. Four of the lots feature Gulf of Mexico views and the remaining face Lake Norma.
The first home on the property was built in 2009 and the last home was built in 2015. In the past few years, the homes have been used for vacation rentals.
None of the homes have been sold to individual owners previously. However, Coronas Park LLC now intends to sell each parcel individually to full-time or part-time residents, which has never been an option in the neighborhood.
“That’s why this is so special,” Realtor Curt Ware said. “It’s only ever been for sale as a development where you have to buy everything. Now, you can buy one of the homes or you can build your dream home on Siesta.”
The neighborhood is a half-mile walk from the north end of Siesta Village, which Ware says affords potential homeowners an unusual opportunity.
“You can’t find a gated community that is walking distance to the Village because it didn’t exist until now,” Ware said. “To be able to walk or hop on a bike and be in the Village area for a wonderful dinner in less than five minutes is a terrific opportunity.”
Mark Kara, one of the members of Coronas Park LLC, grew up on the key. He now owns the Siesta Key Professional Center and several vacation rentals on the property.
Kara said he’s excited to work on the project because it means more individuals will be able to live in a unique area and it will help bring more business to the village.
“We think it’s a good opportunity for Siesta Key as a whole,” Kara said. “We look forward to getting it developed and built so people can enjoy the stuff that we grew up enjoying all our lives.”
The five already-built homes are all three-story structures. All of the lots would allow for similar structures in the future.
The first home, which is 3,522 square feet and has four bedrooms and five bathrooms, is on the market for $1,949,000. It features several balconies, a multi-car garage, a pool and a spa.
Two of the lots are for sale with prices starting at $600,000.