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Sarasota-Manatee
Business Observer Saturday, May 11, 2019 1 week ago

Luxury downtown condo tower sets fall groundbreaking

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GK Development recently completed wind tunnel testing for a high rise project at 33 S. Palm Ave. in Sarasota.

SARASOTA — Luxury 18-story condo tower The DeMarcay is expected to break ground in downtown Sarasota this fall.

The project, developed by GK Development, has secured permits and approvals needed to move forward, according to a press release. The developer recently completed wind tunnel testing for the high rise at 33 S. Palm Ave. It is now finalizing the structural design and building cladding based on the results, the release adds. 

“By completing a wind tunnel test, we have gone beyond what is required by code to ensure this building is constructed in the best possible manner," says Greg Kveton, partner at GK Development, in the statement. "This offers future residents peace of mind in knowing that we are designing our building to the highest standards of structural integrity as well as maximizing water resistance during a storm." 

GK Development hired Parker Walter Group Architects and interior designer Ma’am Design Collective for the project. Voeller Construction is the general contractor. Construction financing has been arranged through BB&T.

The project plans to preserves the historic façade of the building, the press release says. The building will have a rooftop pool and floor plans ranging from 1,144 to 3,106 square feet. A one-bedroom unit starts at $630,000. The DeMarcay will include 39 residences.

Construction is scheduled to be complete by early 2021. 

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