Down the Pike - Summer 2017

Despite the tremendous number of new residential projects and units coming online or nearing completion, new developments are being announced. At Ringling Shopping Center, a developer is touting a plan for 225 new condominiums or apartments, while at 10th Street and Florida Avenue, in the city’s Rosemary District, plans are being formulated to add 72 mid-priced condo units. Time will tell if either is able to obtain financing for new product at this point in this real estate cycle. At the same time, new retail and entertainment offerings at Westfield Corp.’s Southgate Mall and Benderson Development Co.’s Landings Shopping Center are taking shape. Both redevelopments have been long awaited and will be welcome additions to the area. As the two retail districts enjoy some of the strongest demographics in Sarasota, if properly managed they should be tremendously successful and stimulate the areas around them.