Florida Gulf Coast Condo Nears Completion - SVN Commercial Advisory Group Commercial Real Estate Services Sarasota & Manatee Counties
 

Blvd Sarasota to Offer City, Water Views

A luxury condominium on Florida’s Gulf Coast has reached a construction milestone that puts the 18-story building on pace to open in the spring.
Core Development of Wichita, Kansas, said its Blvd Sarasota project at 1224 Boulevard of the Arts in Sarasota, Florida, has topped off, meaning construction has reached its highest point.

Blvd Sarasota condo units will be among the largest in the city. (Core Development)

On the other side of the state in Miami, a glut of luxury condos is weighing down the market, but the outlook is much better in Sarasota, analysts say. Brokers cite building height limitations in the city for keeping the area from being overbuilt.

Blvd Sarasota’s 49 units, ranging from 3,550 to 5,500 square feet each, are among the largest units in the city, according to Knighthead Funding, which provided Core a $75 million construction loan for the project. Prices range from $1.9 million to $3.6 million for units, not including two penthouses.

The project is 60% presold, said Keith Redding, sales director for Blvd Sarasota, in an interview. The condo is attracting former single-family homeowners who like the large floor plans, and some of the first buyers were able to customize their units, Redding noted.

Blvd Sarasota, offering views of the city and Sarasota Bay, is at the entrance to the popular Rosemary District north of downtown. Planned amenities at the project include a golf simulator, grooming station for pets, wine cellar, a rooftop pool and a ground-floor bistro.

Core Development, founded in 1996, also built the Ritz Carlton Sarasota in 2001.

This article was originally written & published OCTOBER 11, 2019| by PAUL OWERS powers@costar.com @paulowers

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