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BUYER: Sarasota Rosemary Apartments LLC (managers: Robert and Deborah Moreyra, Peter Collins and FDG - Sarasota Rosemary Apartments LLC), Tampa
SELLER: Fruitville Downtown Development Partners LLC
PROPERTY: 1401 Fruitville Road, Sarasota
PRICE: $5.77 million
PREVIOUS PRICE: $3.6 million, November 2004
LAW FIRM ON DEED: Norton Hammersley Lopez & Skokos PA, Sarasota
PLANS, DESCRIPTION:
An affiliate of Tampa-based Forge Capital Partners purchased 2.8 acres of vacant land west of Lemon Avenue for $5.77 million.
Forge Capital and its frequent development partner, Framework Group LLC, plan to construct a 228-unit, five-story apartment complex on the site called Sarasota Flats.
Sarasota Flats is the second project to move forward in the Rosemary District, an area north of downtown Sarasota, under the Rosemary Residential Overlay District. The new overlay district offers developers the possibility of additional zoning up to 75 units per acre.
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