Downtown Sarasota Condominium Association March 29, 2016 Forum on the Economic Future of the City of Sarasota Norman Gollub Downtown Economic Development Coordinator
DOWNTOWN COMMUNITY REDEVELOPMENT AUTHORITY BOUNDARY (CRA) DOWNTOWN IMPROVEMENT DISTRICT BOUNDARY
Government Service Regional Financial, Insurance and Real Estate Retail Other OVER 23,000 DAYTIME EMPLOYEES
73 57 49 Sarasota Downtown, Rosemary and Burns Districts 335 Retail Shops & Restaurants December 18, 2015 (source: Downtown Economic Development Office) 31 20 14 20 16 13 11 7 5 5 3 2 2 1 1 2 3
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
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
OFFICE BUILDINGS IN THE CRA THAT ARE 20,000 SQ. FT. OR GREATER EXCERPT MODIFIED FROM THE SARASOTA ASSOCIATION OF REALTORS, COMMERCIAL INVESTMENT DIVISION 2015 3nd 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. 2007 3 22,000 0 0 28,028 Joe Hembree Hembree & Associates 941-951-1776 COURTHOUSE CENTER* 1990 Main St. 2005 10 93,000 9,371 10% Diane Lawson Sperry Van Ness 941-387-1200 Linda Emery HERALD TRIBUNE* 1743 Main St. 2005 2 70,000 0 0 Brett Miller JLL (Jones Lang LaSalle) 813-830-6535 RINGLING SQUARE* 1626 Ringling Blvd. 2005 5 40,000 0 0% Joe Hembree Hembree & Associates 951-1776 FIVE POINTS 50 Central Ave. 2004 16 87,680 0 0 10,000 Jason Donald Cushman Wakefield 813-223-6300 KANE PLAZA 1 South School Ave. 2000 10 78,513 8,974 11% 8,976 Ian Black Ian Black Real Estate 941-906-8688 SARASOTA CITY CTR. 1819 Main St. 1989 13 247,891 41,069 17% 12,413 Lori Hellstrom Osprey Real Estate 941-3365-1819 ONE SARASOTA TOWER2 N. Tamiami Trail 1988 12 137,139 9,208 7% 3,377 Susanne Stovell ICORR 941-954-2300 1900 MAIN ST. 1900 Main St. 1988 3 28,000 8,249 29% 2,153 Diane Lawson Sperry Van Ness 941-387-1200 Linda Emery 1970 MAIN ST. 1970 Main St. 1988 5 22,500 0 0% Diane or Linda Sperry Van Ness 941-387-200 CENTER POINTE 2033 Main St. 1987 6 94,604 14,700 16% 10,000 4,730 Bob Hiller Ringling Property Square Manager 941-366-0217 BMO 240 Pineapple Ave. 1986 11 125,810 9,085 7% 10,104 Jag Grewal IBRE 941-906-8688 BB&T FINANCIAL CTR. 1800 2nd St. 1986 9 248,558 39,929 16% 7,036 3,631 George Spector Spector Group 941-365-0969 THE HUB 1680 Fruitville Rd. 1986 4 41,250 0 0% 2,849 Steve Horn Ian Black Real Estate 941-906-8688 MAIN PLAZA 1991 Main Street 1986 2 262,000 100,000 38% 13,660 Steve Horn Ian Black Real Estate 941-906-8688 PNC 1549 Ringling Blvd. 1983 6 55,000 5,005 9% 5,005 Lee DeLieto Michael Saunders & Co. 941-957-3730 U.S. GARAGE 330 S. Pineapple 1983 2 38,100 0 0% Linda Emery Sperry Van Ness 941-387-1200 Diane Lawson NORTHERN TRUST 1515 Ringling Blvd. 1982 11 109,972 24,105 22% 10,719 10,719 Kelly Matheson Pointe Group Realty Inc. 941-554-1493 ELLIS BUILDING 1605 Main St. 1978 13 131,189 2,500 2% 18,500 1,794 Mark Curran Benderson 941-359-8303 SUNTRUST 1777 Main St. 1975 10 98,966 14,829 15% 9,410 8,000 Susan GoldsteinMichael Saunders & Co. 941-957-3730 THE POINT / BANK ONE240 N. Washington 1974 7 45,466 14,200 31% 7,050 Bob Hillier Property Manager 941-366-0217 ZENETH Plaza* 1390 Main St. 1972 11 115,783 0 0 1718 MAIN ST. 1718 Main St. 1950 2 27,461 0 0% Ashley Bloom Sperry Van Ness 941-961-7109 MIRA MAR CENTER 47 S. Palm Ave. 1922 2 44,000 1,434 3% 400 Diane lawson orsperry Van Ness 941-387-1200 Linda Emery PALM TOWERS 1343 Main St. 1922 7 27,500 13,816 50% 3,140 7,536 Steve Ross SunTrust Hembree & Associates 941-951-1776 TOTALS 2,292,382 316,474 14.00% 74,438 Herald Tribune One Sarasota Tower
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
1 2 3 4 DOWNTOWN SOUTH BURNS DISTRICT The Q Centerplex Payne Park Plaza (Completed) Sansara Women s Exchange Image Unavailable 5 RINGLING BLVD. 3 6 2 4 41 1 Orange Club 7 5 301 8 6 Echelon 7 8 MOUND ST. Azure
1 2 3 1 5 4 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. 2 4 7 1 3 5 MAIN ST. 8 15 14 11 9 10 RINGLING BLVD. 301 13 12 The Jewel 15 DeMarcay 14 13 12 11 10 ORANGE Dolphin Tower One Palm Ave. City Place at Pineapple Sq. State St. Garage Pad Site / Pineapple Park 2101 Main St. 8 9
1 2 3 4 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 41 2 11 10 5 7 301 12 9 8 FRUITVILLE RD. The Quay Risdon on 5 th Vanguard Lofts Sarasota Flats 1515 Fruitville 12 11 10 9 8
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ORGANIZATIONS DSCA DSA SDMA Palm Ave. Merchants Burns Ct. Burns Sq. Rosemary Arts District Rosemary Design District East End Assoc.
WE ARE DOWNTOWN CAMPAIGN
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
Downtown Sarasota Condominium Association March 29, 2016 Forum on the Economic Future of the City of Sarasota