It’s been a long time coming, but Quay Sarasota is taking shape. Uniquely located on a rare piece of large waterfront that few Florida downtowns can offer, the property is also ideally located next door to The Bay, 53 acres of city-owned land, which are being developed as a public park and cultural site. The original Quay, which was mostly known as a nightspot—anyone remember In Extremis in the mid-90s?—was demolished in 2007 and changed hands a few times before Jacksonville-based GreenPointe Holdings bought it in 2014 for $27 million.
Quay Sarasota’s 14 acres will include 695 residences, 175 hotel rooms, as well as office, shopping and dining space, a yacht basin, park and waterfront walkway. While most of us can’t afford the $1 million-plus condo price tags, the project’s waterfront park and walkway are currently open to the public, and eventually we’ll be able to shop and dine there.
Phase 1 began in March 2018 and is now complete. It included infrastructure, the construction of the roundabout at U.S. 41 and Fruitville Road, and the renovation of the historic Belle Haven, which is on the market for $12.5 million.
Also finished is Kolter’s Ritz-Carlton Residences. The starting price for the 73 condos was $2.6 million. The tower is completely sold out and people are living there. Buyers came from Florida, New York, New Jersey, Connecticut and Chicago, according to Quay Sarasota. Last fall, Kolter began to sell another luxury condo, Bayso. Already, 110 units out of 149 have sold. Prices started at $1 million.
To come: Homebuilder Lennar will be breaking ground at the end of the year to build a 12-story apartment tower with 240 units, and construction of that tower is expected to be completed at the end of 2023. There is no news on what hotel brand will be coming or if any restaurants or retailers have signed leases. Build-out for the entire project is expected in 2026.
For now, take a walk—or better yet, ride a bike along the roadways and waterfront walkway to get a glimpse of what’s to come.