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Sunday, April 21, 2024

Siesta Promenade, a New Growth That’s Headed to South Sarasota


The mission, which will likely be positioned on the nook of Stickney Level Highway and South Tamiami Path, will break floor early subsequent yr.

Article courtesy of Sarasota Journal

Mega-developer Benderson Growth is poised to interrupt floor on Siesta Promenade, which can change the face of the gateway to Siesta Key in south Sarasota.

And because the mission at 6450 S. Tamiami Path inches towards groundbreaking in 2024, Benderson Growth gave us an unique have a look at what’s coming to the long-vacant web site.

The 24-acre Siesta Promenade mission, close to the “south bridge,” as locals name it, will begin going up early subsequent yr. It’s headed to the northwest nook of South Tamiami Path and Stickney Level Highway—“what we consider to be probably the greatest out there corners within the state,” Benderson’s vice-president of retail growth Rex Burgher informed us all the best way again in 2005. 

The mission will comprise a complete of 10 retail and restaurant buildings, together with a yet-to-be-named grocer. It can have 140,000 sq. ft of retail house, with a minimal of seven,000 sq. ft of workplace house, and an residence constructing with 414 models, 25 of which will likely be inexpensive. The inexpensive models will goal these incomes 80 p.c of the realm’s annual median revenue, which quantities to $51,200 for one particular person, and $73,100 for a family of 4. It’s Benderson’s first multifamily growth in Sarasota County.

Siesta Promenade may even embody an 80-foot excessive, 130-room lodge, which will likely be bigger than any single lodge on close by Siesta Key, the place house for such a dense lodge is proscribed.

The constructing heights will transition throughout the property, with the lodge being the very best level. That stated, some particulars so far as the variety of ranges of every constructing might shift forward of groundbreaking, based on Benderson’s advertising director Julie Fanning. The lodge and grocer will likely be positioned on Stickney Level; the residences will likely be positioned to the north of the mission, tucked away from heavier visitors; and a number of the retail and restaurant areas will face the bustling South Path. 

Retail and residential will likely be in-built unison and take about two years to finish, and the lodge will observe. “The intent is for the outlets and eating places to be open when residents transfer in, to allow them to instantly benefit from the on-site facilities and way of life experiences,” says Fanning.

Benderson acquired the location in 2005 for $17.1 million. It previously housed a Shell gasoline station and the Pine Shores Cellular Residence Park, the place there have been roughly 140 cell properties. 

Siesta Promenade was permitted by Sarasota County in 2018. “The property was all the time meant to be a mixed-use growth, however the design has developed over the planning course of from a city middle to a neighborhood vacation spot with a coastal village really feel,” Fanning says.

The gathering of buildings will characteristic a wide range of architectural kinds, from Florida fashionable to coastal up to date, “The village setting will likely be enhanced with landscaping and loads of inviting outside areas to loosen up and recharge,” Fanning provides.

On Sept. 27, the Sarasota County Fee will vote on a choice on plans so as to add 39 parallel parking areas alongside Glencoe and Crestwood avenues, that are residential roads. That’s a degree of rivalry for close by residents, however Fanning says that including the areas “is one in every of many traffic-calming measures being thought-about by Benderson to keep up the neighborhood really feel and create a extra pedestrian-friendly space.” 

Opponents, nevertheless, say the additional parking doesn’t adjust to the stipulations agreed to as a part of the county fee’s preliminary approval of the event, which included a 20-foot landscaped buffer for the neighborhood, as an alternative.

Based in 1949 in Buffalo, New York, Benderson Growth’s portfolio contains greater than 800 properties and greater than 50 million sq. ft in 40 states, together with grocery-anchored facilities, warehouse-industrial properties, workplaces and resorts.  

In March, Benderson Growth opened a Publix at The Landings on U.S. 41 south of Proctor Highway, and can be engaged on Fruitville Farms, a Publix-anchored mixed-use growth now underway on the intersection of Fruitville Highway and Lakewood Ranch Boulevard. Benderson additionally just lately closed on the previous Café Baci restaurant on 4001 S. Tamiami Path and bought the Walgreens on the nook of Bee Ridge and Beneva roads. 

Final yr, the corporate acquired the Sarasota County administration constructing and surrounding parking tons final yr. It plans to redevelop the property by the top of 2025 and construct a mixed-use growth of residential, workplace and retail areas.

“Tamiami Path and Stickney Level Highway is the literal gateway to Siesta Key—a world-renowned vacationer vacation spot,” Fanning says. “The property had been severely uncared for once we acquired it, presenting an amazing alternative.  When full, will probably be a vibrant vacation spot for each locals and guests to take pleasure in.”

Authentic article from Sarasota Journal





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