Downtown Sarasota Condominium Association March 29, 2016 Forum on the Economic Future of the City of Sarasota
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1 Downtown Sarasota Condominium Association March 29, 2016 Forum on the Economic Future of the City of Sarasota Norman Gollub Downtown Economic Development Coordinator
2 DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY BOUNDARY (CRA) DOWNTOWN IMPROVEMENT DISTRICT BOUNDARY
3 Government Service Regional Financial, Insurance and Real Estate Retail Other OVER 23,000 DAYTIME EMPLOYEES
4 Sarasota Downtown, Rosemary and Burns Districts 335 Retail Shops & Restaurants December 18, 2015 (source: Downtown Economic Development Office)
5 Supportable Retail by 2019 Downtown Sarasota: 113,900 sf - $46.7 million in sales Gifts Specialty Food Electronics General Merch. Dept. Store Apparel/Shoes. Restaurants 3,500 sf 4,300 sf 4,600 sf 8,900 sf 11,400 sf 14,000 sf 49,100 sf Source: Gibbs Planning Group, 2014 Retail Study
6 Supportable Retail & Restaurants by 2019 Total 4 Study Areas: 300,100 sf - $90.1 million in sales Dr. Martin Luther King, Jr. Rosemary St. Armand s Circle Downtown 42,500 sf 63,400 sf 80,300 sf 113,900 sf Source: Gibbs Planning Group, 2014 Retail Study
7 OFFICE BUILDINGS IN THE CRA THAT ARE 20,000 SQ. FT. OR GREATER EXCERPT MODIFIED FROM THE SARASOTA ASSOCIATION OF REALTORS, COMMERCIAL INVESTMENT DIVISION nd 4 th QUARTER REPORT BUILDING ADDRESS YEAR # TOTAL VACANT % OF MAXIMUM AVAIL. CONTACT COMPANY PHONE BUILT FLOORS SQ. FT. SQ. FT. BLDG. CONTIGUOUS SUB-LEASE BANK OF COMMERCE 1858 Ringling Blvd , ,028 Joe Hembree Hembree & Associates COURTHOUSE CENTER* 1990 Main St ,000 9,371 10% Diane Lawson Sperry Van Ness Linda Emery HERALD TRIBUNE* 1743 Main St , Brett Miller JLL (Jones Lang LaSalle) RINGLING SQUARE* 1626 Ringling Blvd , % Joe Hembree Hembree & Associates FIVE POINTS 50 Central Ave , ,000 Jason Donald Cushman Wakefield KANE PLAZA 1 South School Ave ,513 8,974 11% 8,976 Ian Black Ian Black Real Estate SARASOTA CITY CTR Main St ,891 41,069 17% 12,413 Lori Hellstrom Osprey Real Estate ONE SARASOTA TOWER2 N. Tamiami Trail ,139 9,208 7% 3,377 Susanne Stovell ICORR MAIN ST Main St ,000 8,249 29% 2,153 Diane Lawson Sperry Van Ness Linda Emery 1970 MAIN ST Main St , % Diane or Linda Sperry Van Ness CENTER POINTE 2033 Main St ,604 14,700 16% 10,000 4,730 Bob Hiller Ringling Property Square Manager BMO 240 Pineapple Ave ,810 9,085 7% 10,104 Jag Grewal IBRE BB&T FINANCIAL CTR nd St ,558 39,929 16% 7,036 3,631 George Spector Spector Group THE HUB 1680 Fruitville Rd , % 2,849 Steve Horn Ian Black Real Estate MAIN PLAZA 1991 Main Street , ,000 38% 13,660 Steve Horn Ian Black Real Estate PNC 1549 Ringling Blvd ,000 5,005 9% 5,005 Lee DeLieto Michael Saunders & Co U.S. GARAGE 330 S. Pineapple , % Linda Emery Sperry Van Ness Diane Lawson NORTHERN TRUST 1515 Ringling Blvd ,972 24,105 22% 10,719 10,719 Kelly Matheson Pointe Group Realty Inc ELLIS BUILDING 1605 Main St ,189 2,500 2% 18,500 1,794 Mark Curran Benderson SUNTRUST 1777 Main St ,966 14,829 15% 9,410 8,000 Susan GoldsteinMichael Saunders & Co THE POINT / BANK ONE240 N. Washington ,466 14,200 31% 7,050 Bob Hillier Property Manager ZENETH Plaza* 1390 Main St , MAIN ST Main St , % Ashley Bloom Sperry Van Ness MIRA MAR CENTER 47 S. Palm Ave ,000 1,434 3% 400 Diane lawson orsperry Van Ness Linda Emery PALM TOWERS 1343 Main St ,500 13,816 50% 3,140 7,536 Steve Ross SunTrust Hembree & Associates TOTALS 2,292, , % 74,438 Herald Tribune One Sarasota Tower
8 Existing Residential Units = 4,099 Existing Dwtn. Population = 6,554 New Construction Units = 3,184 (not hotel) Projected New Residents = 5,699 * TOTAL = 6,890 12,253 * Utilizing 2010 U.S. Census of 1.79 people per household within the CRA boundary
9 DOWNTOWN SOUTH BURNS DISTRICT The Q Centerplex Payne Park Plaza (Completed) Sansara Women s Exchange Image Unavailable 5 RINGLING BLVD Orange Club Echelon 7 8 MOUND ST. Azure
10 DOWNTOWN CORE Bob s Place Apts. Image Unavailable 6 7 The Vue Embassy Suites Hotel Sarasota 2 nd Street Apartments 1548/1560 Main Street School Ave. Townhouses 6 FRUITVILLE RD MAIN ST RINGLING BLVD The Jewel 15 DeMarcay ORANGE Dolphin Tower One Palm Ave. City Place at Pineapple Sq. State St. Garage Pad Site / Pineapple Park 2101 Main St. 8 9
11 Valencia at Rosemary Place The Sarasota Modern Cityside Florida Studio Theatre Rosemary Square 5 5 Elan Rosemary Image Unavailable DOWNTOWN NORTH ROSEMARY ARTS DISTRICT BAYFRONT 6 7 Citrus Square II Image Unavailable 10 TH ST. 3 4 LEMON AVE. 1 6 BLVD. OF THE ARTS FRUITVILLE RD. The Quay Risdon on 5 th Vanguard Lofts Sarasota Flats 1515 Fruitville
12
13 ORGANIZATIONS DSCA DSA SDMA Palm Ave. Merchants Burns Ct. Burns Sq. Rosemary Arts District Rosemary Design District East End Assoc.
14 WE ARE DOWNTOWN CAMPAIGN
15 NORTH TRAIL / U.S. 41 Signal Removal and Installation of 11 roundabouts with associated streetscape improvements. Includes: lane modifications, creation of a multi-use path in sections, sidewalk improvements, other pedestrian amenities, and locating potential transit bus stop shelters. Univ. of South Florida New College Florida State Univ. / The Ringling N Bayfront 20:20 A Ringling College of Art & Design Targeted Economic Opportunity Zones B H C G D F I E SRQ Airport J Downtown K Booker High School Newtown
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