- January 23, 2025
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Opulence is the common thread of two developments weaving their way into the landscape on Lido Key.
One particularly posh example: A hotel and restaurant with a Roaring Twenties vibe and a nod to Sarasota’s history as a circus town are coming soon to Benjamin Franklin Drive.
More fanciness sits farther south: a towering condominium — the Rosewood Residences — is taking shape with units up to $15 million in a first-of-its-kind project that will offer an uber-luxury hotel-like experience to residents.
The circus-themed project, Cirque St. Armands, will be unveiled in March at 233 Benjamin Franklin Drive, an address that used to be the Holiday Inn and which has for months been the site of renovations. The Holiday Inn on the site was built in 1970.
“It’s going to turn heads,” says Milo Davidovic, regional manager for the hotel, in a statement. “There are nods to the circus heritage everywhere, but they are presented in a very elegant, art deco meets Roaring Twenties-inspired setting.”
The hotel will feature ostrich-feather chandeliers, pinstriped columns, billowing draperies and geometric patterns, according to Opal Collection, which manages the property.
Cirque St. Armands includes 135 rooms with floor-to-ceiling windows and balconies, all showcasing antique photographs of circus performers training in Sarasota in the 1920s and 1930s. Ringling Bros. made Sarasota the winter home of the circus in 1927.
The hotel’s restaurant, Ringside, will also incorporate the circus theme. Billboard-sized murals will display trapeze artists, and five private booths will be set off by velvet drapery. Guests can indulge in a menu filled with gulf seafood and bold-flavored fare.
Ringside “is going to be one of the most unique and exciting new places to dine in Sarasota for its unexpected, picture-worthy drinks, décor and dishes,” Davidovic says.
Drinks and small plates will also be on tap at the lobby bar and lounge, dubbed Midway. After March, a pool bar called the Ringmaster will also open.
Shaped like three rings and designed to bring to mind the “three-ring circus,” the pool will be completed this spring. It will feature striped loungers and tent-like cabanas. Guests will also have access to an on-site fitness center and 300 feet of private beach at sister Opal Collection property Lido Beach Resort.
Another new development, on a much larger scale, is underway at 1000 Benjamin Franklin Drive, where a massive 11-story building is being erected on the gulf side of the street. Rosewood Residences Lido will include 65 condominiums priced from $6.5 to $15 million. Each unit will have waterfront views and a private balcony.
The project marks the first residential-only, standalone Rosewood-branded property in the country, with more to come. Previous Rosewood Residences have been attached to hotels or resorts, such as The Carlyle, a Rosewood hotel in New York.
Naples-based developer and owner of the Lido property the Ronto Group approached “multiple high-end hotel brands” about establishing branded residences there, and “they all wanted to be a part of it,” according to Ronto Group President Anthony Solomon.
“Then when we talked to Rosewood, we really felt that they would be the optimal brand because ... it’s hard to get much more prestigious than the Rosewood brand,” Solomon says of the company, which operates more than 30 properties worldwide. “We felt it complemented the Sarasota style. Their brand of luxury is that quiet sort of luxury.”
Residents at the Rosewood Residences Lido will have access to a full-service restaurant that also provides room service and is exclusively for property owners and their guests. The eatery features private dining rooms as well as indoor and outdoor bars. A staffed beach club and owner’s lounge provide food and beverage service as well.
Other amenities include a fitness center with locker rooms, massage area, steam room and cold plunge; two zero-edge swimming pools — one on the beach level and another on the third floor; a game room with billiards, cards, arcade games and a toddler playroom; a theater; and six guest suites that have full closets and bathrooms. All common areas are designed by New York City interior designer Lillian Wu.
“It’s an amenity package that has never been done,” Solomon says, for a building of this size. “You get all the benefits of a hotel without the transience.”
Condominiums range from more than 3,300 to nearly 5,000 square feet, accessed by semi-private elevators. Each unit features a Wolf cooktop, Sub-Zero refrigerator and freezer as well as a Miele dishwasher.
Rosewood-trained staff will oversee daily operations and management of the property.
“They’re providing [service] before you even need to ask,” Solomon says.
Offering an example, he says residents might have grandchildren visiting who want chicken fingers on the beach. “They’re going to make that happen,” Solomon says.
Approximately 40% of the units have been sold as of mid-December.
“One common thread, I would say, is they were all very lovely, down-to-earth people,” Solomon says of the buyers he has met. “They’re excited to have this as a place to have their kids and grandkids.”
The cost of the project is upwards of $300 million, according to Solomon, who says that includes the land. Previously, the 3.5-acre property was home to a pair of hotels that were purchased and subsequently demolished. The Ronto Group paid $15 million for one hotel, Coquina on the Beach, and $24.5 million for the other, Gulf Beach Resort Motel. Both deals closed in 2021, Sarasota County property records show.
The Rosewood Residences Lido broke ground in January, topped out its 11th floor in November and is projecting completion by early 2026.
“Sales have been good,” Solomon says. “We knew this wasn’t going to be an incredibly brisk sellout given the price points. These are the very top price points in Sarasota, due to what we’re delivering. But we’re very happy with the sales.”
