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Don't be surprised if the next construction crane in Sarasota is placed on the grounds of The Ritz-Carlton. The Kolter Group's plans to develop 84 upscale condominiums adjacent to the luxury hotel appear to be proceeding, and a sales center could be constructed in the near future.
Kolter is currently constructing the Vue Sarasota Bay, a 144-unit condo building and 255-room Westin Hotel, next to The Ritz-Carlton, Sarasota. The company also is building One, a 41-story high-rise that will be St. Petersburg's tallest structure; will commence soon on The Mark, a $200 million mixed-use retail, office and residential project in downtown Sarasota; and recently closed on a nearly $7 million deal to buy 440 acres in Manatee County to build more than 1,100 new homes.
But The Ritz-Carlton, Sarasota development could occur before either the Parrish residential project or The Mark.
“The timetable is as soon as possible, which should be soon,” Kolter president and CEO Robert Julien says.
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