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In the News
Residence featured on page 27
It is no surprise that people are flocking to Florida's West Coast,
gravitating towards our refreshing Gulf breeze and year-round sunshine.
As new visitors from around the globe discover our tropical haven,
the lull between seasons continues to shrink. With an increase in
population comes an increase in real estate demand, bringing forth new
developments across the Suncoast.
The unofficial bird of Southwest Florida, the construction "crane," can
be spotted all along the skyline of downtown. Perhaps the most opulent
project from this recent growth is Vue Sarasota Bay, at the epicenter of
new construction. This $120 million dollar property has surpassed sales
expectations with only a few condominiums remaining.
Florida welcomed an estimated 79.1 million visitors during the first
nine months of 2015, marking the highest of any such period in the
Sunshine State's history. Local data has been just as impressive with
Sarasota County collecting more than $19.02 million from its 5 percent
tax on overnight accommodations during the fiscal year amounting to a
27 percent increase in those revenues from just two years ago. Also in
2015, Sarasota County broke an impressive 1 million visitors in paid
lodging for the first time ever.
After many meetings and workshops, the former Sarasota Quay property
is moving forward with plans to convert the 14.5 acre waterfront
site into a vibrant district that blends downtown with surrounding
neighborhoods and environment. The developer of the project, now
known as Sarasota Bayside, revealed it would pursue entitlements
already granted to the property after previous attempts at development.
Those plans include up to 695 condominium units, 189,050 square feet
of retail space, 20,000 square feet of office space and a 175-room hotel.
The city of Sarasota issued
a record number of building
permits in the recently
completed fiscal year, marking
the first time more than 8,000
construction permits were
processed in a 12-month period.
