REAL ESTATE DEVELOPMENT IN PROGRESS AUGUST 19, 2014

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1 REAL ESTATE DEVELOPMENT IN PROGRESS AUGUST 19, 2014 PROJECT IMAGE PROJECT/LOCATION DEVELOPER CONSTRUCT. VALUE State Street Garage City owned parking 1538 State St. garage. Retail 395 parking spaces space under w/13,873 sq. ft. retail garage to be sold. under garage. Pad site to be sold. Pad site w/5,040 sq. ft. retail & up to 25,000 sq. ft. office or residential above. City Place at Pineapple Square Originally proposed for: 13 story, 800,000 SF+, retail spaces, 276 condos Pineapple Square STATUS $11,379,459 Garage under construction to be completed March Purchase offers for the garage retail and the pad site approved by City Commission 8/18. Due diligence and sale documents next step. N/A Start-Date Unknown to implement Agreement w/city. PERMIT ISSUED? Foundation issued. Vertical permit pending. DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 1

2 PROJECT IMAGE PROJECT / LOCATION DEVELOPER CONST. VALUE STATUS PERMIT One Palm Avenue 138 Hotel Rooms 139 Apts. /Restaurant & Retail NE Corner of Palm Ave. at Ringling Blvd. John & Gavin Meshad $31,147,000 Foundation and Vertical permits issued. Dolphin Tower Condos Struc tural Repairs Dolphin Tower Condo Association $9,000,000 Building permit issued. DeMarcay 33 S. Palm 39 Residential Units XAC Developers N/A Site Plan Approved within DROD** DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 2

3 PROJECT IMAGE PROJECT / LOCATION DEVELOPER CONST. VALUE STATUS PERMIT The Jewel 18 story residential condos/with retail at Main and Gulfstream Ave. Tom Mannusa $19,281,259 Building permit issued 4/3/14. Completion Fall Vue 1 N. Tamaimi 141 unit Residential tower / 255 room Westin hotel. 14,000 sq. ft. ballroom, 2- jr. 5-6k sq. ft. each. Quay Currently represented by HFF s Miami office. Embassy Suites & Spa 202 N. Tamiami Trail. Approx. 180 rooms by JEBCO Ventures. Kolter Group $120,000,000 Foundation permit issued. Vertical permit applied for. Completion Date: Fall Westin Winter 2016 Residences N/A N/A Existing Agreement. Buyers offers submitted to HFF 7/14/14. JEBCO Ventures $40,000,000 Pre-application conference held. Transportation Study completed. DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 3

4 PROJECT IMAGE PROJECT/LOCATION DEVELOPER CONST. VALUE STATUS PERMIT Former Gee Whiz Children s Museum Blvd. of the Arts. Owned by City of Sarasota N/A On-hold per City Commission Hotel Sarasota adjacent to Palm Ave. garage Floridays Corp. t Available Adjustments approved by Planning Board & Staff. Encroachment permit approved. Cityside Apartments between 6 th & 10 th residential units per acre. Approx. 400 units. Rosalyn Holdings LLC N/A Pending Rosemary Residential Overlay District approval in October, Image not provided. Former United Way Property nd St. 170 Apartments, 9 accessory guest units, 17,410 sq. ft. ground floor retail, 21,000 sq. ft. office space. Biter Bldg. LLC N/A Planning Board and City Commission approved. (DROD**) DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 4

5 PROJECT IMAGE PROJECT/LOCATION DEVELOPER CONST. VALUE STATUS PERMIT Villagio at Rosemary Place Icon Real N/A Applied for a replat 32 lot townhomes at Coconut & Estate of the property. Blvd. of the Arts Ventures Coconut Ave. (Rennaisance Phase II). Aegis Court th Street 6 Townhomes Tetra Terra $1,500,000 Administrative Site Plan Approval. Image not provided. Rosemary Square (Former Community Garden Property), Blvd. of the Arts / 1.5 acres city owned property. Rosemary Square LLC $20,000,000 Sale approved. Agreement being prepared Fruitville Rd. Strip Commercial Center Kim Jordenson $600,000 Redesign underway by new architect, Alan Anderson Q 39 Condos at 1750 Ringling Blvd. by JEBCO Ventures JEBCO Ventures Phase 1 $900,000 Phases 1, 2, 3 & 4 under construction. (7 total) Subdivision plat approved. DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 5

6 Payne Park Plaza 242 S. Washington St. 8,295 sq. ft. retail/office. Mark Kauffman $1,500,000 Site plan approved. Staging plan being prepared. Kimpton Hotel Washington at Main St. 150 room full service hotel. Lobby Bar, 120 seat full service restaurant, Fitness center Swimming pool, 6,000 square feet of meeting space Kimpton Hotels N/A Exchange agreement followed by ground breaking anticipated at end of 2014, after existing parking lot is relocated to 2051 Main St. DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 6

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9 Project Name New Construction Residential Units Hotel Rooms Retail Sq. Ft. State Street Garage ,885 City Place (Pineapple Sq.) N/A One Palm Avenue N/A The DeMarcay** 39 0 N/A The Jewell ,900 Embassy Suite & Spa N/A The Vue N/A Hotel Sarasota N/A Former United Way** 148+/- 0 N/A Quay N/A Aegis Court 6 0 Rosemary Square 40 0 N/A Villagio at Rosemary Place 32 0 Cityside The Q Major Renovation Dolphin Tower N/A 1515 Fruitville Rd ,785 SUB TOTAL 2, Information provided by City of Sarasota Neighborhood & Services Division (NDS). Information Subject To Change. Information reflects projects in various stages of the city development process and/or projects with a city development agreement in place. ** Denotes grandfathered project within the former DROD designation (downtown residential overlay district). For Further Information Contact: rman Gollub Downtown Economic Coordinator (941) Or Gretchen Schneider General Manager, NDS ext.4355 Application Submitted t Official SanSara 17 0 N/A Kimpton Hotel TOTAL 2,037 1,143 All projects listed are within the boundaries of the Downtown Community Redevelopment Area. DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY AREA 9