Plans revealed for 18-story downtown Sarasota condo tower

One Park is back, and like last time it is in the form of one building.

Only this time, it’s just on one block.

Even as it was fighting a challenge in the 12th Circuit Judicial Court over whether it could acquire the air rights above Quay Commons to build over the street and connect a single building on both Blocks 1 and 9 in The Quay, developer Property Markets Group of Miami was already working on an alternative plan.

The revised project is scheduled for its first appearance before the city’s Development Review Committee on Jan. 17, but on Tuesday, PMG revealed its plans for an 18-story, 86-unit condo tower, a design that will evoke the spirit of its original street-spanning plan.

After Judge Hunter Carroll last fall ruled in favor of plaintiff Block 6, a coalition of residents of the Ritz-Carlton Residences in The Quay, PMG announced it would not appeal the ruling and began its pursuit of Plan B.

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"We started designs on the building six to eight months ago, and as we developed plans further and the court case was taking longer than we anticipated, we started pivoting toward this design,” PMG Managing Partner Dan Kaplan told the Observer. “It actually ended up working out better separately than they did together. We think we're going to build the nicest condo buildings in Sarasota. They’re going to be architecturally significant, much more so than other competitors in the area. It's going to be the highest end product. We think our buyers will be happier there than anywhere else.”

Designed by Sarasota-based Hoyt Architects, One Park Sarasota will feature a selection of three-bedroom private residences with 12-foot ceilings and floor-to-ceiling windows showcasing views of Sarasota Bay and the downtown skyline, as well as unobstructed views of The Bay park. Additional residence highlights include expansive outdoor terraces with glass railings and summer kitchens, plus smart home technology. 

Resort-style amenities will include an infinity-edge pool and spa deck with lounge areas; wellness spa with saunas and steam rooms, fitness, pilates and yoga studios and cycling rooms; club room and owner’s lounge; dog run; hospitality suite; wine room; private theater; and a golf simulator. Additional services offered by a dedicated concierge staff include valet parking, package delivery and dog walking.

“It's going to be best in class. It's going to have a very similar setting to what the otherwise larger project would have had,” Kaplan said. “The building itself, because it's not on Block 9, will have phenomenal views. It will be a smaller building than the original, but it will be the same quality. It will be at the same height and so it will have the same views. The views from Block 1 will probably be the best in the quay. 

"In a lot of ways all this ended up working in our favor.”

Kaplan said the new One Park is approximately 40% pre-sold with initial sales offered to buyers of units in the original building.

Eventual administrative approval of One Park will bring to a close a newly two-year effort to bring the project to The Quay. Developer PMG originally proposed a 123-unit tower that would cross over Quay Commons at a height of 20-plus feet, PMG proposing an activated breezeway with retail and dining.

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Residents of Block 6, however, opposed the project, its claims confirmed in court that the air rights above Quay Commons must eventually be transferred to the master association by master developer GreenPointe and could not be sold to PMG and its investment partners, which include Kim Githler, owner of Sarasota-based financial education firm MoneyShow.

Still under design is a second tower on Block 9, which Kaplan said will offer smaller units of matching design and quality of the Block 1 building. The idea, he said, is to offer the same quality product at a lower price point by virtue of less square footage.

“The intent of that is to offer a different kind of product, for lack of a better term, with the same level of higher quality finishes and construction quality,” Kaplan said. "The amenities will be the same, but it will just cost less because the units are smaller. We're looking to create a product where people can buy it for less than $2 million.”