Loading
Coffee Talk (Sarasota)
Developer Kelly talks trade-offs
Is 18 stories tall enough? Irish developer Patrick Kelly thinks so, but he certainly sees the possibility in going higher and he's willing to negotiate with the city to make it happen.
Plan A is for Kelly's Irish American Management to develop four mixed-use 18-story towers on the Sarasota Quay site (see Real Estate page 7 for more developments). But Irish American's secondary proposal would add an extra six or seven stories to the project, take some or all of the towers to 24-25 floors or 280-290 feet high.
"First we are going to show the city our plans completely within the code," Kelly says. "Then we are going to suggest our Plan B that we would be willing to work with the city on creating a more value added contribution to social (affordable) housing or the arts or a conference center. This is also part of our business philosophy ... having a positive effect on the community."
Kelly says, at this point, height would be the main city incentive he'd like to receive, not density. He further says that the effect of the extra height would be negligible as far as public perception from the street.
Asked which of the three social concerns for the city he would most be interested in assisting with, Kelly said his first priority would likely be affordable housing.
"In the face of this, the cultural side (of the problems) doesn't sound so important." Kelly says.
Kelly says he and his company are open to everything from being required to develop a certain number of workforce or affordable housing units on another parcel of land or even contributing heavily to an affordable housing fund for the city.
Another restaurant Outback
Dr. Mark Kauffman and two undisclosed partners have bought out one of the owners of the Fleming's building, at 2001 Siesta Drive, Sarasota. As a result, Sarasota Commercial Management has taken on leasing for the building and three new tenants have been announced.
"It's just a great location with wonderful parking and two good tenants (Fleming's Prime Steakhouse & Wine Bar)," Kauffman says. New tenants committed to the center include Sarasota County, Chelsea Title Co. and a plastic surgeon.
As for a large empty space on the bottom floor of the building, Coffee Talk has heard the owners are in discussion with Tampa's Outback Steakhouse Inc. about bringing another restaurant to the site. Kauffman confirmed it was a strong possibility. Rumors have it that the likely choice would be a Roy's, a Hawaiian fusion restaurant that Outback is expanding in a joint venture with chef Roy Yamaguchi.
When the second restaurant location is fully leased the only remaining vacancy will be a 1,000-square-foot unit. Sarasota Commercial Management is asking $24 a square foot for the space.
At the same time, Kauffman has announced a partnership with two attorneys: Ed Vogler and Ed Sarbey and two doctors: Dr. Robert Katz and Dr. Robert Hillstrom to develop a four-building medical complex across the street from Sarasota Memorial Health Care Center at University Parkway, located at Honore and University Parkway.
Kauffman says the partnership has approvals to build the 82,000-sqaure-foot development and will likely start construction in two or three months. The partnership already has individual physician practices that have committed to the equivalent of 45,000 square feet in the new center.
"We just put it out to bid (for general contractors)," Kauffman says. "We will likely put a diagnostic radiology center there and a physical therapy center with an in-ground pool. Perhaps we might even have a surgery center."
Sarasota Commercial Management is selling the as-yet unnamed development as condominiums for about $260 a square foot. Kauffman says the owners are in negotiations with a coffee shop for the development.
Raw fish equals 'smell-free' PR
If the Hillview Grill has been getting more business traffic lately, its owners know exactly who to blame. It seems the 19-year-old Sarasota restaurant just got a free plug in the largest-circulation nationwide business magazine BusinessWeek.
In the April 1 issue, a photograph was used of one of the restaurant's signature appetizers togarashi tuna in a small article hyping the Olympus Stylus 500's food/cuisine setting, which allows the camera to capture food photos in an attractive way. The brief also specifically mentioned the meal, restaurant and city.
According to Miles and Mindy Millwee, who own and operate the Hillview Grill, the source of that free marketing was the smart networking of the restaurant's chef John Glenn.
Glenn was first introduced to a sales rep for Olympus through a Spanish class he was taking in Sarasota. She needed to setup a food setting so she could shoot demonstration photographs for the new camera, so Glenn obliged by cooking her up the appetizer. The owners say BusinessWeek reporter Larry Armstrong most have gotten the photo from Olympus.
"It was a nice surprise," Miles Millwee says. " We have had several people comment on it - certainly a lot more than we expected." The owners don't know if Olympus has used the shot in any other marketing for the new camera.
Top Entrepreneurs
If you've had trouble making telephone reservations for the Review's 2005 Entrepreneur Award luncheon to be held May 20 at the Hyatt, Sarasota, 1000 Boulevard of the Arts, we apologize. The telephone number previously published was inaccurate. The correct number is (941) 308-0714.
In addition, a list of entrepreneur nominees in the Review's April 29-May 5, 2005 edition should have indicated percentage change from 2002-2004 rather than revenue growth rate.
Etc...
• Rumors have circulated about the future of a former Palm Reader shop on U.S. 41 between the Ritz-Carlton, Sarasota and land designated for Irish American Properties. The small building, at 211 N. Tamiami Trail, was seen as an easy acquisition for either neighbor because of its location. But a sign has now been posted showing Quizno's has leased the site.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
