18-story condo project moves forward in Sarasota

A condo project planned for a city block in downtown Sarasota marked a milestone recently after receiving approval from the city’s planning board. Called Saravela, the tower will include 282 condominiums, including 11 townhome-style units, as well as retail space. The 1.7-acre site where it will be built spans nine parcels, encompassing a full city block along North Tamiami Trail between Fourth and Fifth streets.

Chicago-based real estate firm GSP Development has been working with the city and the community for more than a year to fine-tune its plans before gaining approval this month to proceed with the development. Among modifications the developer made were expanding sidewalks to 20 feet wide, with large canopy trees and palms added to enhance the streetscape; including 40 attainable housing units; and incorporating 30 public parking spots.

Saravela will also create more than 10,400 square feet of ground-floor retail space along North Tamiami Trail, including a gourmet market and coffee bar.

"From the beginning, our vision for Saravela was to create a project that enhances downtown Sarasota and contributes to the quality of life for residents, visitors, local businesses and future Saravela owners,” Larry Debb, GSP Development president and founder, says in a July 23 statement. "Working together, we were able to refine the plans and create the best possible project for Sarasota.”

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Floor plans at Saravela will start at 667 square feet for a one-bedroom condominium and top out at 1,915 square feet for a townhome. Amenities will include rooftop pools; co-working space; dog run and dog wash; fitness studio with cold plunge, hot tub, sauna and yoga room; arcade and game room with golf simulator; outdoor bar; and club room with catering kitchen, wine vault and private dining room. There will also be a resident concierge service.

In addition, Saravela will offer owners the ability to provide short-term rentals through a professionally managed, centralized rental program, according to a statement. It is a new approach in Sarasota that recently prompted the city commission to direct planning staff to develop policies for mixed-use condo/hotel/short-term rental projects, according to sister publication Your Observer.

Prices for the condos will start below $1 million. Premier Sotheby’s International Realty is exclusively representing Saravela. Kimmich Smith Architecture designed the project.