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

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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

16 Downtown Sarasota Condominium Association March 29, 2016 Forum on the Economic Future of the City of Sarasota