Rosewood CEO Expresses Excitement on New Lido Key Project

June 2, 2022

Blog

Sonia Cheng, the CEO of Hong Kong-based Rosewood Properties Group, has expressed excitement about their choice of Lido Key as the location for the group’s first standalone residential project.
 
Cheng, whose Group operates 40 hotels in 19 countries, indicated that Rosewood Residences Lido Key is part of their thrust of “emphasizing luxury through a modern lens.” This condominium, she added, “will bring a new-luxury lifestyle experience to the (Sarasota) area and the U.S. at large.”
 

A Welcome Inventory Boost

 
The construction of Rosewood Residences Lido Key is likewise coming at a most opportune time. As of December 2021, active listings of Sarasota luxury condos for sale priced from $1 million dropped 50 percent to just 73 residences.
 
As enticing for high-end buyers, our team also has another luxury condo on the market at the Ritz-Carlton Managed “The Beach Residences”. This condominium is only about a quarter-mile south of the Rosewood Residences expected for completion in 2025.
 

Rezoning Approvals

 
A rezoning of the Rosewood Residences’ site at 930 Benjamin Franklin Drive, formerly occupied by the Gulf Beach Resort Motel and Coquina on the Beach, has been approved. This approval converts the property’s site of nearly 4 acres to a Waterfront Resort designation from the former Residential Multiple Family 4 zone.
 
This new designation increases Rosewood Residences’ maximum buildable height to 135 feet from 95 feet. The majority of the Sarasota City Commission saw that this height limit would be compatible with the condominium’s neighborhood.
 
The average size of the floor areas of these residences will be about 4,200 square feet. Miami-based Swedroe Architecture is behind the Rosewood Residences’ building design. The condominium’s interior designer is New York-based Lillian Wu Studio.
 

A Sense of Place

 
The condominium’s design renditions will mirror the Rosewood Group’s guiding philosophy of “A Sense of Place.” Under this theme, the sensibilities of the property’s locale are woven into the programming and distinctive style of the Rosewood Group’s properties.
 
The onsite amenities lined up at Rosewood Residences include a private restaurant and chef services for onsite dining and catering. The future residents of the condominium will also be provided with a world-class fitness center, outdoor pools, featuring 6 private guest suites with housekeeping services, featuring a library, and a game room, plus Rosewood-Managed 24-hour concierge service.
 
Rosewood Residences Lido Key is but one of the opportunities to own a luxury condominium in Sarasota. Contact our Judy Kepecz-Hays Team if you’re planning to buy high-end residences here. We can help you find the property right for you even amid the current tight inventory of luxury Sarasota condos for sale.

Call Us, Your Luxury Experts

We are dedicated to helping you find your dream home and assisting with any selling needs you may have. Contact us today to start your home searching journey!