Sarasota condo project gets $208 million construction loan

The developers of One Park Sarasota received financing for construction of their 18-story condominium in The Quay.

By Elizabeth King
| 2:11 p.m. March 21, 2025
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One Park Sarasota, shown in a rendering by Imerza, is expected to be complete by the first quarter of 2027.

Manatee-Sarasota

A condominium project being built in downtown Sarasota has secured $208 million in construction financing. Commercial real estate lender RMWC is providing the loan for One Park Sarasota to developers Property Markets Group (PMG) and MoneyShow. Terms of the loan were not disclosed.

One Park Sarasota, which broke ground within The Quay bayside community in October 2024, will be an 18-story luxury condominium tower at the corner of Boulevard of the Arts and Quay Commons.

“We are thrilled to ... receive the support of RMWC as we advance on bringing this premier resort-style destination to downtown Sarasota,” Dan Kaplan, managing partner at PMG, says in a statement. He describes One Park Sarasota as a “high-caliber development we are confident will make a lasting positive impact.”