Longboat Key, Florida | February 20th, 2018 – One of the privileges for us and our peers in the Sarasota real state sector nowadays is seeing some great local projects that looks certain to have a significant impact on how our communities will shape up for the future.
Foremost among these initiatives which has gained traction recently is the bold effort to develop 42 acres of city-owned land along the Sarasota bayfront. This parcel surrounds the popular Van Wezel Performing Arts Hall and encompasses an area from the western stretch of the Boulevard of the Arts to the Payne Terminal.
This project, for sure, can have a significant direct impact on the market values of nearby residential condos. These neighboring properties notably include the Renaissance condominium just across the city-owned bayfront parcel as well as the iconic Marina Tower located a short distance south of the bayfront project.
Bayfront Master Plan in the Works
By fall of this year, we can already have a glimpse on an overall master plan for this private-public partnership endeavor under the Sarasota Bayfront Planning Organization (SBPO). Sometime in October last year, the SBPO has picked the Watertown, Massachusetts-based design and planning firm Sasaki to create an environmentally sustainable, financially feasible, and operationally viable masterplan for the city-owned parcel.
Crafting of this master blueprint is now well underway with SBPO having fully raised in November the $2.1 million needed to hire the leadership team for the project’s implementation as well as bankroll the planning and design efforts of Sasaki. Boasting of over 60 years track record in its field, Sasaki previously delivered work for the Chicago Riverwalk, the Smale Riverfront Park in Cincinnati, the Zidell Master Plan in Portland, Oregon, and Gulf State Park Master Plan in Alabama
Preview on New Longboat Arts Center
Another initiative that we shall be following with keen interest is the new Longboat Key Arts, Cultural and Education Center for which the Ringling College of Arts and Design presented a preliminary plan this January. Significantly, this plan presentation officially marks the first step toward construction of the donation-funded center and sends signal to start the fund-raising for this project.
The initial blueprint submitted indicates that the art center project would cost, by 2022 dollars, more than $18 million.
This amount would cover the design, construction and furnishing of this facility proposed to have over 18,000 square foot of floor space on 4.8 acres in the Longboat Key Town Center. The Ringling College plan envisions the arts center to be housed in two buildings set apart by an east‒west “landscape spine.”
A Front Seat for Bay Isles
This in-between space is laid out to include an amphitheater and a courtyard. Bordering it to the east would be a colonnade and the main entrance to the center. Its western periphery would accommodate a stormwater management pond. The center’s parking lots are set bordering Bay Isles Road which provides access to and from many of the choice residential properties in Longboat Key. Added parking spaces are likewise being considered around the 50-acre Town Center.
The days and months ahead should show more progress on how the Longboat Key arts center and the Sarasota bayfront project would finally shape up. So be sure to touch base with us if you’re considering a residential sale or purchase. Besides these two major project, there are other new dynamics which are fast shaping up in region’s property market and could impact upon decisions on buying and selling residential properties. Our Judy Kepecz-Hays team can very well update you on all of these.