Boutique condos planned for Golden Gate Point, Palm Avenue

Two projects getting underway soon will offer “boutique” condos in two choice downtown Sarasota locations. 

The 625 Sarasota project plans to build The Point, a nine-story condo building on Golden Gate Point, and “The Palm,” a smaller four-story building near the intersection of South Palm Avenue and Alderman Street.

The developer, V.J. Chukkapalli, also recently purchased a 10-unit vacation condo on Siesta Key that he plans to refurbish.

Chukkapalli said he’s been working on the Palm and Point projects for the last two years. With approval secured from the city and county, he said construction on the Palm project will begin in about a month. The Point is set to break ground in September. 

Chukkapalli said he expects the projects to take about 18 months to complete.

Noting there hasn’t been new construction on that part of Palm Avenue recently, his concept of condos he described as “boutique,” is being well received. The response has been “very good,” he said, adding he expects the condos to sell in the “upper $2 million” range.

Descriptions of the residences on 625Sarasota.com show plans for open-floor designs for 12 two- or three-bedroom condos ranging from 2,400 square feet to 4,400 square feet. 

The Point will offer only two residences per floor and two upper-floor penthouses, each between two to four bedrooms and two to five-and-a-half baths, with private glass-railed terraces. 

Siesta Key Inn to be renovated

Chukkapalli also recently bought the 10-room Siesta Key Inn at Point of Rocks Road and Midnight Pass Road. 

He said he does not plan new construction there but will refurbish and update the units. 

“We’re going to run it,” he said. “It’s in good shape.” 

Chukkapalli is a part-time Suncoast resident, splitting his time between Colorado and Longboat Key. “I came here on vacation almost 20 years ago,” he said. 

He has been a developer and investor for the last 25 years, creating shopping centers and multifamily residences in Colorado, California and the Orlando area. 

Creating a condo project in Sarasota has been a goal of his for a while. 

“It’s always been on my mind,” he said. “We have beautiful beaches. There’s a lot to enjoy here.”

This article originally appeared on sister site BusinessObserverFL.com.