Prime Development Opportunity Downtown Sarasota

Description:

Ian Black Real Estate is pleased to present the unique opportunity to purchase .33 acres at the southwest corner of Fruitville Rd and Central Avenue in downtown Sarasota. The property is located in the hear of the City of Sarasota and is zoned Downtown Core (DTC). The property allows mixed use development including Residential, Multi-Family, Office, Hotel and Retail. The property boasts excellent views to the west and north and is ideal for a boutique condominium project.

Residential Base Density:
.33 acres @ 50 units per acre = 16 units

Residential Base Density (Affordable):
.33 acres @200 units per acre = 66 units*

Market Rate Units 56 units
Affordable Units 10 units**

*15% of the units above the base density are required to be affordable
** 1/3 of the units need priced at 80% of AMI, 1/3 of the units need to be priced at 100% of AMI,
1/3 of the units need to be priced at 120% of AMI

Located at the SE corner of Fruitville Rd between Lemon and Central Ave in Downtown Sarasota.

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