Rosemary Overlay Sunsets After Successful Run - Winter 2019

The tremendously successful Rosemary Residential Overlay District sunset at the end of 2018. And while there is scheduled to be some extension of a revised RROD, it will come with completely different terms and conditions. What made the RROD so successful was its simplicity and the clear unencumbered incentives it provided: Three times the entitled density without any additional requirements that would often derail similarly proposed projects. This incentive opened the door for the type of development Rosemary District and many other areas of our City craved. Properties were developed under the RROD that otherwise would still be vacant or dilapidated properties. The beauty to the taxpayer is that all of this cost the City virtually nothing. In turn the community received tremendous immediate and long-term benefits. Life was infused into the Rosemary District through four major apartment projects and multiple condominium projects, with some supporting commercial space. Taken together, the development generated vitality and significant tax dollars. The valuable lessons of the simplicity and success of the RROD are obvious and we at Harshman & Co. hope City leaders will implement similar initiatives elsewhere in Sarasota in areas that are also in need of redevelopment and rebirth.