Downtown Sarasota Ritz-Carlton Residences Break Ground

The first vertical construction in downtown Sarasota’s the Quay is officially under way. The 18-story Ritz-Carlton Residences — on 1.9 acres at the southwest corner of the Quay, adjacent to the Ritz-Carlton, Sarasota — has broken ground, Kolter Group said Monday. It is slated to wrap up construction in the fourth quarter of 2020.

Kolter is the developer of the 73-unit luxury tower; Jacksonville-based GreenPointe Communities is the master developer of the Quay, which occupies 14 acres between the Ritz-Carlton, Sarasota, and Hyatt Regency Sarasota, along U.S. 41. Units range from 3,200 square feet to over 6,100 square feet, priced from $2.4 million to $8 million. The tower recently hit $100 million in presales. SB Architects designed the tower.

“The tremendous response to this project shows that the market for ultra-luxury waterfront living is alive and well on Sarasota Bay,” Vail said. “Owners will have the best of both worlds with the new Quay Sarasota at their doorstep and the endless resort pleasures and legendary service of The Ritz-Carlton hotel at their command.”

Source: Tampa Bay Business Journal