Landmark downtown Sarasota hotel torn down for new project

A new development in downtown Sarasota has taken a big step forward with an even bigger demolition: the Hyatt Regency, after more than 50 years as a landmark waterfront property just off U.S. 41, has been totally torn down. 

Delray Beach-based developer Kolter Urban is overseeing the redevelopment project, which will encompass two condominium buildings, one of which will include a new hotel and restaurant.

“Another condo will go where the current Hyatt is located, and then 1000 Boulevard of the Arts is both a Hyatt Centric hotel as well as a 117-residential-unit condo building,” Kolter Urban Senior Vice President Ed Jahn says in an interview with the Business Observer. “It’s an L-shaped building…Structurally, it’s one building, but it’s two separate components.”

Courtesy image

At the corner of Boulevard of the Arts and Quay Commons, 1000 Boulevard of the Arts will feature condominiums on both the harbor and the bay side, with floor plans ranging from 1,200 to more than 3,000 square feet. Prices start at $1.4 million. Delivery is expected in the second half of 2028, according to Jahn.

The tower will be 20 stories, with Hyatt Centric Harborside hotel rooms on the sixth through 14th levels.

Hyatt Centric hotels are typically located at the centers of cities. They feature “destination-centric” rooms that “capture the spirit of your destination, helping you to get a feel for the area before you even set foot out the door," according to Hyatt.

Photo by Ian Swaby

Redevelopment comes after a half-century in business for the Hyatt Regency Sarasota. The hotel opened in 1975 and closed at the end of May 2025. Kolter Hospitality, a division of Kolter Group, will handle management of the new hotel.

“The redevelopment of the Hyatt Regency was necessary, and we’re positive that the Harborside will not only serve as a vibrant destination for visitors and locals but will also revitalize modern meeting and event spaces, fostering business growth and connectivity,” Kolter Hospitality President Scott Webb said in a statement last year.

The Hyatt Centric Harborside will contain more than 7,000 square feet of event space, including a ballroom, as well as a ground-floor restaurant with indoor and outdoor seating and a pool bar.

In addition to the 20-story tower containing the 117-unit condo building and 174-room hotel, Kolter Urban plans to develop a separate residential tower along Boulevard of the Arts, according to Jahn. That will be located where the Hyatt Regency once was.