The region's barrier islands are still in rebuilding mode following a brutal hurricane season. But Naples-based Ronto Group is moving forward with the latest addition to the luxury real estate landscape: Rosewood Residences on Lido Key, located at 930 Benjamin Franklin Drive and situated right on the water.

Developed in partnership with Wheelock Street Capital, the 11-story project includes 65 beachfront residences, all with views of the Gulf of Mexico. Units range from $6.8 million to $15 million; each is three or four bedrooms, with sizes ranging from 3,300 square feet to 5,000 square feet.

Rosewood sits where Coquina on The Beach and the Gulf Beach Resort Motel used to be. Both built in the 1950s, the Gulf Beach Resort Motel was sold to the Ronto Group in 2021 for $23.5 million. The firm purchased Coquina on the Beach for $15 million that same year.

Construction on Rosewood Residences began in January 2024 and reached a milestone in November with the "topping out" of its 11-story structure, signaling the completion of vertical construction. The development is slated to be done in early 2026. It’s the first exclusively residential property under the Rosewood brand, which is known for its luxury hotels and resorts.

To date, there have been $239 million in sales. And while the local condo market has seen an increase in inventory and a decrease in prices due to a spike in owner's fees—the result of Miami's Surfside collapse and new requirements for safety reserves—these kinds of ultra-luxury units are actually in demand. Late last year, for example, a unit at the new St. Regis Residences sold for $12,995,000.

“People are starting to realize they want out of older homes and condos," says Anthony Solomon, president of the Ronto Group. "People are looking for new. I think many are prioritizing comfort, particularly with the new [building] codes and the added elevation."

Depending on the size of unit, monthly fees at the Rosewood Residences will range from $4,277 to $6,250 a month. The building's amenities, which only residents will be able to access, include a private restaurant, a theater, a game room, an indoor and outdoor bar, a fitness center, massage rooms and private guest suites, all spanning nearly 30,000 square feet of indoor space. Outdoor features include two pools, cabanas, fire table seating and a game terrace. State-of-the-art features include impact-rated, low-E glass windows and dedicated generator circuits in each unit. Units are customizable, with interiors designed by Lillian Wu of New York City’s Lillian Wu Studio, who's known for her work on other Rosewood properties in Doha, Bangkok and Bermuda.

Residents will also have access to in-residence dining, private chef services, personal training, spa treatments and more. A la carte items offer pre-move-in provisioning, childcare and transportation assistance in an effort to make day-to-day life as seamless as possible. 

“We like to describe it as offering the benefits of a hotel without the presence of transient guests," Solomon says. "Some people appreciate the energy that comes with a hotel setting, but others prefer the high-end amenities without tourists, unfamiliar faces or large events like weddings and conferences."

Plus, he adds, “Residents won't have to worry about not having reservations [for dinner] in season. Grandkids can come down and get chicken fingers at the restaurant, then be at the pool. Families can have quality time together and not have to think about anything else.”

"Buyers for this type of property aren't the same buyers looking for resales," he continues. "They want a branded experience, top-tier service and beach access. They're not interested in purchasing older properties just to get a better deal.”

Global real estate and investment management firm JLL arranged $173.5 million in construction financing for the project and represented the borrowers, Ronto Group and Wheelock Street Capital, to secure the loan through Bank OZK, according to a release,

And while Hurricanes Helene and Milton did affect construction, "it wasn’t too bad overall," Solomon says. "There was a lot of sand that had to be cleared, which set us back a couple of weeks. Securing the crane and reinstating it was another challenge, but the main task was cleaning up the sand. Fortunately, the building, which was open on the ground level at the time, didn’t sustain any damage."

Rosewood Residences' sales gallery is located at 540 John Ringling Blvd., Sarasota. For appointments, call 941-888-3131. Click here to learn more.