Loading
Less than three months after the first holes were punched in the walls of the former Bath & Racquet Club clubhouse, the 13.42-acre site in Sarasota has been cleared to make way for the start of redevelopment.
Now branded Bath + Racquet Residences & Club, Phase 1 sales are nearly closed out and Phase 2 sales are underway for condominiums that will overlook the private tennis and pickleball club in the mixed-use development tucked behind the Trader Joe’s at Robinhood Street and South Tamiami Trail. it's about three miles south of downtown Sarasota.
Upon completion, the rebirth of Bath & Racquet, which closed in 2021, will include 256 one-, two- and three-bedroom condos, outdoor tennis courts, outdoor and indoor pickleball courts, 65,000 square feet of light commercial space and separate club and residents’ amenities.
The project was designed by Halflants + Pichette and the developer is Sarasota Springs LLC. The residential units are marketed by Amy DiSalvo and Tanya Keith of Keller Williams On The Water, both of whom grew up near Bath & Racquet, which was a centerpiece of their childhood.
Overgrown and fallen into disrepair since it was closed, the two see the redevelopment as a catalyst for south Sarasota.
“Amy grew up there. I grew up playing there when I was a kid as well, and when you look around how growth is happening, there is nothing like this,” says Keith. “It provides an opportunity for people who don’t want a house, and when you put this property there with a club and all the state-of-the-art facilities, it’s naturally just going to grow around it and improve the values of the homes around it.”
“You’re literally half a mile to the water and three miles to door-to-door to Siesta Key,” adds DiSalvo.”Downtown is three miles to Main Street.”
Of the 256 condos, 33 one-bedroom units will be attainably priced for those at 120% or less of the area median income. The developer will initially retain ownership of the attainable units and make them available for rent.
Current pricing on the market-rate units is $700,000 to $1.7 million and a price increase is expected in the coming months.
The rebirth of Bath & Racquet was a long time coming after having once been a lifestyle hub in the 1970s that drew top tennis players Chris Evert and Martina Navratilova.
Redevelopment of the site was first publicly considered in November 2017, with two ownership changes occurring since. Sarasota Springs LLC, led by partners Fabio Di Prima and Tan Bahia, acquired the property in January 2022 for $15.35 million.
Sales have been brisk, DiSalvo and Keith say, with a variety of buyers, including investors with intentions of offering long- and short-term rentals, second home purchasers and full-time residents. Details such as temporary club memberships for short-term renters are in the planning stages and the search for a club management company is underway.
Leasing of the commercial space will be managed by Robbins Commercial of Sarasota.
This article originally appeared on sister site YourObserver.com.
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.
