Another luxury residential building going up in downtown Sarasota
The below article was posted in the Herald Tribune
7 One One
Downtown Sarasota’s burst of construction projects continued with Friday’s official ground-breaking ceremony for another luxury residential building. Called 7 One One Palm for its address, the occasion featured the obligatory gold-colored shovels as well as numerous executives and others involved in the project.
The five-story, residential mid-rise at 711 S. Palm Ave. only holds 16 units. Five residences are now under contract, with 11 available — priced from $1,049,000 to $1,299,000.
Patrick DiPinto, president of Sarasota-based Seaward Development and developer of 7 One One Palm, told the gathering that he and his partner, David Hargreaves, walked the neighborhood many times before deciding the property had an ideal site along what could be called Residential Row because of all its high-rise condo buildings, low-rise townhouses and mid-rise residential structures.
“7 One One Palm is a great alternative to the larger buildings in commercial centers that we now see going up downtown,” DiPinto said earlier. “Both our buyers and Realtor partners recognize how special our walkable residential location is; they value our intimate scale, floor-through residences, and semi-private elevator foyers which provide the intimacy of a single home.”
Pilings and and other foundation work are underway. Bonita Springs-based Gates Construction is the general contractor, working out of its Sarasota office.
Designed by Sarasota’s Mark Sultana of DSDG Architecture, the 16 units will offer floor plans ranging from 2,025 to 2,124 square feet under air. Each residence has three bedrooms, three baths, a west-facing terrace, 10-foot ceilings, Bosch appliances with gas cooking, Hans Grohe and Kohler fixtures, imported cabinetry from Cucine Ricci and oversized porcelain tile floors.
Amenities include garage parking, conditioned storage, oversized pool, spa, private cabanas, fitness center, gas grills, fire table and a Paw Park with a pet grooming station.
One of Sultana’s designs, One 88, earned the Best Residential Building/Complex in the January 2016 edition of SRQ Magazine. The five-story structure sits on Sarasota Bay at Golden Gate Pointe with views from the Ringling Causeway west to Bird Key.
Downtown residential ventures either recently completed or on the city’s list of pending projects will bring some 1,402 condominiums or townhomes into the urban core. With around 1,000 new residents flooding Florida every day, Sarasota is a popular destination for the monied class, Hargreaves said, making new million-dollar residences a good development investment.
Compared to South Florida and Naples, Sarasota offers more for the money, he said.
Construction on 7 One One Palm is expected to take 12 to 14 months, with completion planned in late 2018 or early 2019.
