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Business Observer Friday, Jan. 7, 2022 7 months ago

Prominent developers announce luxury Sarasota waterfront project

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The 18-story luxury development will be situated on the Boulevard of the Arts.

SARASOTA — Some of the more prominent developers in Sarasota recently announced plans for an 18-story luxury project in the waterfront district. 

The launch of One Park Sarasota, which will be located on Boulevard of the Arts, was announced as a partnership between national developer PMG and Sarasota-based Jebco Ventures. The project is expected to have 149 units, with prices starting at $1.86 million, according to a statement. Designed by Sarasota-based Hoyt Architects, the development will feature one, two, three and four bedroom units ranging from 2,460 to 4,100 square feet. Additionally, One Park will offer six penthouses as part of the One Park Penthouse Collection, the release adds. 

“PMG is thrilled to announce One Park as a signature project in Sarasota’s growing downtown,” says Dan Kaplan, managing partner at PMG, in a release. “PMG has been bullish on the West Coast of Florida over the past decade and eager to bring another project to the area, alongside our local development partners, Jebco Ventures. One Park will set a new standard for resort-style, luxury living in the heart of the city’s stunning waterfront district.”

Jebco Ventures, founded by Jim Bridges, has been behind some of Sarasota's most notable projects, including high-rise residential projects, in-field housing, condos, townhomes, mixed-use developments, shopping centers and single tenant build-to-suit properties. The specific list includes The Embassy Suites Hotel in downtown Sarasota; The Phoenix condominium; Vista Bay Point Condominiums on Golden Gate Point; The “Q” Townhome Project on Ringling Boulevard; Palazzi Al Mare – a Luxury Duplex on Lido Beach; and The Strand Condos — a 147-unit project slated for completion in the first quarter. 

Additionally, Kim Githler, a partner of Jebco Ventures, was part of the ownership group of The Hyatt Regency Sarasota that renovated the 297-room property, added an 11,000 square foot ballroom and then sold it to Blackstone in 2007. While owning the Hyatt, she and her partners developed the 44-unit luxury condo project Beau Ciel on Sarasota Bay. Githler is also the chair and CEO of MoneyShow, a stock and investment education company. 

“One Park in Sarasota is a jewel nestled on The Bay featuring breathtaking sunsets,”  says Githler, managing partner of Jebco Ventures, in the release. “PMG’s exquisite luxury development, One Park, will create a world-class lifestyle for our community. We are delighted to have the opportunity to be their local partner to redefine luxury living in Sarasota.”

Residents can expect amenities like a resort-style infinity pool, private theater room, state-of-the-art fitness studio and a wellness spa. Coldwell Banker Realty in downtown Sarasota is the exclusive sales team for One Park.

“One Park will be an outstanding addition to the Sarasota real estate market, which continues to grow and elevate luxury and resort-style living on the Gulf Coast,” says Matthew Day, managing broker of the Coldwell Banker Realty Downtown Sarasota office. “We’re happy to be a part of this remarkable development and to provide high-caliber support through Coldwell Banker’s New Development Services, resources, and tools as well as the extensive market knowledge of our local sales team.” 

PMG currently operating projects across Florida, New York, Colorado, Arizona, Tennessee and Georgia.

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