Revised Sarasota bayfront arts center complex cost estimate: $407M
Instead of four structures, the architect for the Sarasota Performing Arts Center has scaled plans back to two buildings with an option for a future second, smaller theater.
A Renzo Piano Building Workshop conceptual rendering of the Sarasota Performing Arts Center as viewed from the 10th Street Canal.
Courtesy image
Manatee-Sarasota
Share
In the five months since the architects at Renzo Piano Building Workshop revealed their preliminary concept for a new Sarasota Performing Arts Center, on the bayfront downtown, much has changed.
Changes include:
The main theater capacity has grown from 2,500 to 2,700 seats.
The long-standing best guess estimate of $375 million for the project is now a more firm, $407 million, factoring inflation projections.
And, at least for now, a worst-case scenario assumption that Sarasota County will not contribute its tax increment financing revenues, collected in a two-block area surrounding The Bay, to cover 25% of the cost.
Continue reading your article with a Business Observer subscription.
What's included:
✓ Unlimited digital access to BusinessObserverFL.com
✓ E-Newspaper app, digital replica of print edition
