Longboat Key, Florida | December 18th, 2018 – It’s amazing how the current market excitement on Sarasota real estate goes beyond the new property developments that have proliferated around the county in recent years. Older residential neighborhoods, like Pine Shores Estates just north of Stickney Point Road, the westward gateway to Siesta Key, are hot as well.
Our Judy Kepecz-Hays team just hosted an open house Sunday, December 16, on a property we listed in November at Pine Shore Estates’ Beechwood Avenue. So with this, we can confirm just how active the market in this area has been in terms of buying and selling interest.
Siesta Promenade Knocks at Gulf Gate
In fact, no less than the prolific real estate developer, Benderson, has been actively pursuing a major project in this well-established locality just west of Sarasota’s Gulf Gate district. Benderson’s plan involves developing a mixed-use center called Siesta Promenade in a 24-acre site adjacent south of Pine Shore Estates. The proposed project, which was approved by the Sarasota County Planning Commission in November, involves the construction of a 130-room hotel, 414 apartment units, and retail space of 140,000 square feet.
Benderson’s interest in this area of Pine Shore Estates draws much steam from the rising fortunes of the Gulf Gate suburb east of the quadrant of Stickney Point Road and the South Tamiami Trail. This area is notably host to plenty of residential neighborhoods and commercial centers that enliven the dynamics of the South Sarasota market.
Significantly, too, the market excitement Gulf Gate has been generating recently is spilling over to its nearby communities to the west, like those homes for sale at Pine Shores Estates.
Many residential properties in the nearly contiguous Gulf Gate and Pine Shores Estates are comparable both in pricing and square footages, a consideration which is important both for prospective buyers and sellers in these two communities.
As vital in engaging the market in this area, retirees have ceased to dominate its demographics. The residents of Gulf Gate and Pine Shore Estates have become more mixed and now include young families and working professionals, as well as seniors from the baby boomer generation.
Commercial Hub Reshaped
With this remarkable residential market shift, there has been a revitalization in the development of the commercial district in the area. At last count, the commercial hub of the Gulf Gate Village next to the Sarasota Pavilion off Stickney Point Road is now host to about 200 businesses.
The Village’s tenants now include a wide selection of shops, delis, bars, restaurants, and service providers. These businesses notably draw not only local residents but have also started attracting customers from other Sarasota communities as well as tourists. More and more, this area is becoming more like downtown Sarasota, thanks to an active merchants association which have been actively promoting local events.
Still another fundamental advantage for Gulf Gate and Pine Shore Estates is their proximity not only to the South Tamiami Trail. Both communities also enjoy convenient access to Clark and Beneva Roads onward to Interstate 75 and the lifestyle centers of Sarasota and Lakewood Ranch toward north. Southward, the points of interest gravitate around the Westfield Sarasota Square Mall and lifestyle facilities available in and around Palmer Ranch.
Definitely, we’ll be seeing more buying and selling activities in the South Sarasota real estate market. Link up with our Judy Kepecz-Hays team if you’d want to sell or buy a residence here or anywhere in the county. Draw benefits from our wide-ranging insights and experience in this market territory..
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