Builder Donates Recycled Condo Materials

Article originally posted in Sarasota Magazine, 9/14/2018.

Seaward Development and Habitat ReStore recently removed reusable items from a 1974 building set to be demolished this fall.

Seaward Development recently partnered with Sarasota’s Habitat ReStore to remove kitchen cabinets and appliances, counters, doors, sinks, toilets, fans and light fixtures from Versailles, a 1974 building that will come down this fall to make way for the new building Epoch. All the items deemed to be in good condition will be sold at the ReStore, 2095 17th St., Sarasota. Between 25 to 40 percent of solid waste in America is related to building projects; only 20 percent of construction waste or demolition debris is recycled, according to a press release.

Developer Plans High-Rise Bayfront Condo

The below article was posted in the Sarasota Observer: https://www.yourobserver.com/article/gulfstream-palm-bayfront-condo-high-rise-versailles

Seaward Development is planning an 18-story, 25-unit luxury condominium project at 605 S. Gulfstream Ave., currently the site of the Versailles residences.

Another high-rise condominium building is in development near Sarasota’s bayfront.

On Tuesday, Seaward Development filed a preliminary application for an 18-story, 25-unit condo at 605 S. Gulfstream Ave. The property is currently home to the Versailles, a mid-rise condo building constructed in 1974.

Seaward Principal Patrick DiPinto said the group has spent more than a year planning to develop the Gulfstream site. Although that planning process is still ongoing, DiPinto said the average unit will be 4,000 square feet with four bedrooms.

At $1,100 per square foot, that puts the price for the average unit at more than $4 million. The units will be targeted at people who want to relocate to the city but don’t want to significantly downsize from a single-family residence.

“We see this site as an alternative for our island and high-end consumers who have large homes and want the convenience of condominium living,” DiPinto said.

Seaward spent more than $9 million to buy out the 14 owners at the Versailles, according to Sarasota County Property Appraiser records. The developer believes sustained demand for luxury condominiums near the water will make that expenditure a worthy investment. DiPinto said his team has already heard from prospective buyers.

“It is truly one of the last of its kind on the bayfront,” DiPinto said. “We’ve got an incredible piece of property that has over 100 feet of direct Florida waterfront views.”

DiPinto said the development would comply with the city’s existing zoning regulations, which means it will go through city staff for review and approval. Seaward hopes to begin construction in the fourth quarter of 2018, which could put completion of the project in late 2020.

Residents on Gulfstream and Palm Avenue have recently expressed concern about the effects of construction in the area — particularly the 624 Palm high-rise condo development, located right next to the Versailles. DiPinto said Seaward has already engaged in conversations with neighboring property owners and city staff, and pledged to prioritize safety during the construction process.

“We’re trying to be cognizant of what’s important to our neighbors,” DiPinto said.

The project does not yet have a name, and sales are set to begin in March. Already, though, the developer is setting lofty expectations for the final product.

“This will be an iconic building,” DiPinto said. “It’s going to be one the city and residents on Palm and Gulfstream are going to be proud of.”

Downtown High-Rises Remain in Demand

Another 18-story luxury condominium is coming to the bayfront, a sign of continued interest in high-end downtown residences.

The below article was posted in the https://www.yourobserver.com/article/downtown-bayfront-sarasota-condos-versailles

Seaward Development

Patrick DiPinto said deciding to build a high-rise condominium at 605 S. Gulfstream Ave. was an easy choice.

“It is truly one of the last of its kind on the bayfront,” DiPinto said. “We’ve got an incredible piece of property that has over 100 feet of direct Florida waterfront views.”

That’s why DiPinto’s company, Seaward Development, spent more than $9 million to buy out the 14 owners of the Versailles condo, built in 1974 on the Gulfstream site. And on Jan. 16, Seaward filed a preliminary application to knock down the existing structure and build an 18-story, 25-unit condo in its place.

Buying a condo building only to demolish it and build a new one is a costly endeavor.

But the sustained demand for bayfront residences near downtown Sarasota makes the investment worth it, even with other condo projects in development nearby. (And as close as next door: An 18-story, 17-unit condo is under construction on the neighboring property at 624 S. Palm Ave.)

DiPinto said the units, which will average 4,000 square feet with four bedrooms, are marketed toward island residents who don’t want to significantly downsize from a single-family home.

The units won’t go on the market until March, though construction likely won’t begin until the end of the year.

And yet, Seaward said it already has seen significant interest from buyers.

“We have had dozens of Realtors call us with prospects who want to be downtown,” DiPinto said.

Follow the plan

Since 2013, developers have moved forward with a series of 18-story downtown structures near the bayfront. That’s the maximum height allowed for buildings in Sarasota, permitted only on properties zoned downtown bayfront.

Starting with The Jewel at 1301 Main St., at least eight projects in the past five years have included plans for 18-story buildings. The Quay development likely will have multiple high-rise structures. Two more properties zoned for 18 stories — one at Fruitville Road and U.S. 41, the other at 838 N. Tamiami Trail — lack formal plans but are slated for development in the near future.

Some residents have groused about the recent influx of high-rise buildings, but Sarasota officials say the city is being developed according to plan.

“If it’s consistent with our comprehensive plan and consistent with our zoning, they can just go forward with it,” Planning Director Steve Cover said. “If it’s consistent with both, it’s consistent with where the city wants to go.”

“It’s consistent with where the city wants to go.” — Steve Cover

If residents or city commissioners wanted to see a different type of development, Cover said the city does have the means to change its regulations governing new building. But that doesn’t mean the city can suddenly halt all high-rise projects. In Florida, if property rights have been given to somebody, they can’t be taken away without compensating for the lost value.

That means, for example, it could allow increased residential density in exchange for reduced height. Or, to address other issues, it could go in the other direction — in exchange for mandating wider setbacks from the property lines, the city could allow taller buildings.

Cover, who moved to Sarasota in 2017, has taken note of the focus on luxury residential development near downtown. From a planning perspective, he said that’s not a point of concern — merely a reflection of the demand for that particular product.

“I know since I’ve been here, most of the new developments are the larger, higher-end condominiums,” Cover said. “So I guess there’s a big market for that.”

Construction fatigue

Gulfstream Avenue resident Lottie Varano is more wary of the continued development downtown.

Varano lives in the Essex House, where residents have raised a series of complaints about the effects of the neighboring 624 Palm construction site. Because of those complaints, the city is reconsidering its regulations on setbacks for downtown buildings, though no changes have been made.

Although the Essex House won’t be as directly affected by the Versailles redevelopment, Varano encouraged the builder to take concrete steps to address the safety concerns associated with new construction.

“I would like to see, if they are going to no setbacks, that they don’t just say they’re going to be careful — that they do things to be careful,” he said. “Like providing netting to stop the fallout so that they don’t damage the neighbors’ property.”

Seaward Development
Patick DiPinto and David Hargreaves of Seaward Development are moving forward with two different high-end luxury condominium projects on Gulfstream and Palm avenues.

DiPinto said Seaward has already spoken with neighboring property owners and city staff, and pledged to prioritize safety during the construction process.

“We’re trying to be cognizant of what’s important to our neighbors,” DiPinto said.

And though the project doesn’t even have a formal name yet, the developer is setting lofty expectations for the final product.

“This will be an iconic building,” DiPinto said. “It’s going to be one the city and residents on Palm and Gulfstream are going to be proud of.”

Varano said he recognizes the city can’t pick and choose which high-rise developments to permit, but he wished the city had a mechanism that would slow the rate at which new buildings are going up. Across the street from the Essex House, Seaward has broken ground on another residential project — the five-story, 16-unit 7 One One Palm condo at 711 S. Palm Ave.

The safety issues are residents’ most pressing concern, but Varano said the constant construction creates a quality of life issue, too. DiPinto said the 605 S. Gulfstream project could be complete by late 2020. Taken together with the 624 Palm development, that’s five years of high-rise construction in one piece of the city.

Varano acknowledged that’s the reality of life in a growing city. Still, he said he was disappointed downtown residents seemed fated to keep dealing with the nuisances of life around construction sites.

“Are we tired?’’ Varano said. “Yeah, we’re a little weary — especially those of us who are up in age and trying to spend our retirement years in some peace and quiet.”

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.

Seaward Development Buys Out Tiny Downtown Condo Building

This article originally appeared in Sarasota Magazine

BLINK AND YOU MAY MISS the pint-sized, five-story Versailles condominium building, sandwiched between the Royal St. Andrew and the pencil-thin Echelon that’s now rising on South Gulfstream Avenue across from Sarasota Bay.

But the little building brought big profits to its former owners after Seaward Development partners Patrick DiPinto III and David Hargreaves in December finished the nearly three-year process of buying out all 14 owners. Their plan: a 25-unit, 18-story luxury condo tower still to be named. While they work toward groundbreaking in the summer or fall of 2018, they’re renting out the units.

“What makes this parcel unique is that we have 100 feet of direct waterfront,” says DiPinto. “Many of our neighbors have significantly less. Most of the rooms in our new residences will have big direct water views of Sarasota Bay, Siesta Key, the Gulf of Mexico. The view is one of a kind.”

The location and views persuaded the developers to make offers the owners couldn’t refuse.

Wedding planner Bobbie Hicks bought her 1,629-square-foot, two-bedroom Versailles condo in 1994 for $120,000. She sold it to Seaward Development for $1,044,700. Located on the top floor, it brought a premium. A first-floor unit, in contrast, which sold for $210,000 in 2011 was bought for $725,000.

Although the price was irresistible, Hicks admits to mixed feelings about the deal. “I really wanted to be there forever,” Hicks says. “I loved my place; I was as happy as could be. It’s kind of heartbreaking.”

While she tries to console herself with her nearly tenfold profit, others are hoping to move in. DiPinto says word of mouth has brought “dozens and dozens of realtors to us with clients that wish to purchase units.” He anticipates floorplans of 3,750 to 5,000 square feet, offered at an average of $1,100 per square foot.

The Faces of Boutique Luxury Condo Development

This article originally appeared in Sarasota Magazine.

With a singular focus on quality and luxury, Seaward Development principals Patrick DiPinto and David D.R. Hargreaves develop boutique communities in the most sought-after neighborhoods in Sarasota. From their first project, Park Residences of Lido Key, to their newest offering on South Palm Avenue, 7 One One Palm, you’ll find an unparalleled attention to detail.

For over two decades, licensed building contractor DiPinto has developed and built hundreds of residential and commercial projects throughout Connecticut and Florida.

Hargreaves is a retired chief financial officer of a major public corporation who now invests in real estate. He brings a wealth of financial and management experience to the team. Both Hargreaves and DiPinto are proud to call Sarasota home.

400 Madison Drive, Suite 220
Sarasota, FL 34236
(941) 388-2021

Downtown Sarasota condo building boom continues

This article originally appeared on the Observer Website.


Seaward Development is under contract to buy out the owners of the Versailles on the Bayfront for a new project.


If you need any more evidence that downtown Sarasota has pent up demand for luxury condos, consider this: A local developer plans to buy out all 14 owners in a bayfront complex, and pay to knock it down — just to build a new one.

Seaward Development plans to redevelop the Versailles, built in 1974, into a new condominium with as many as 25 units and up to 18 stories, according to a zoning code confirmation letter sent to the city by Seaward principal Patrick DiPinto.

DiPinto, who is also developing the nearby Seven One One Palm, declined to comment until the deal with unit owners is complete.

“For the most part, there has been excellent absorption of almost everything that’s being built,” said Amy Drake, president of Property Perspectives, who is handling marketing and sales for the coming Seven One One Palm project and the 18-story Echelon on Palm — which only has two units remaining in inventory. “The demand for new construction is always there — buyers want the latest and greatest.”

Driving that demand is the preference for living in an urban setting on the waterfront, which the corridor between Gulfstream and Palm avenues provides.

Case in point: She has four buyers from Siesta Key, one buyer from Longboat and a buyer from Casey Key slated to move into the Echelon on Palm.

Further, the open, flowing design buyers favor just wasn’t around before the past several years.

“Even compared to the last building boom, the approach to architecture is very different now,” Drake said.

Just north of the proposed Palm Avenue projects, the 18-story, 17-unit Sansara has sales pending for 15 of its residences, said Michael Saunders & Co. Realtor Jonathan Abrams.

“The demand for new construction is always there — buyers want the latest and greatest.” — Amy Drake, president of Property Perspectives

Most of those prospective buyers are “switching seasons” — as in, instead of spending a few months here and the rest out of state, they are buying more permanent residences to stay for more than eight months.

“I think that paints a good picture of the luxury buyer finding Sarasota and wanting luxury here,” he said.

While luxury high-rise construction raises property values, it can create tension with nearby property owners, particularly on South Palm, where the onslaught of new construction triggered a lawsuit.

In May, the Essex House Condominium Association filed a lawsuit against the developers of Echelon, complaining the construction crossed onto the Essex House property line. Before it was dismissed in June, Essex residents posted three large canvas billboards decrying the construction in front of their building.

Although the Echelon construction has also affected the Royal St. Andrews condo complex — a crane dumped wet concrete onto the pool deck this summer — association manager Shelley Williams said she isn’t worried about the proposal to redevelop the neighboring Versailles building as long as contractors maintain a constant level of communication with the buildings along Gulfstream Avenue.

“They came right over and cleaned it up,” Williams said, noting the construction manager had early on established a relationship with her association.

There are more than 1,400 units across the city somewhere in development. That list includes large portions of Vue Sarasota Bay and Sarasota Bayside.

Drake said she expects the trend toward new luxury building to continue over the next several years, but predicts it will obviously level off as construction prices — particularly the cost of building a high-rise — climbs to pre-recession levels.

And don’t expect many more redevelopment projects similar to what Seaward is trying to accomplish, since Versailles is the last of the smaller condo developments overlooking the bay and therefore had fewer unit owners to buy out.

“When you get into these much older bigger buildings, that’s a very challenging thing to do,” Drake said.