Two years following the purchase of the former Michael Saunders & Co. buildings in Sarasota, developers Jebco Ventures/JBCC and Omnium Real Estate have a plan: the construction of a residential tower.
The High Line would measure 11 stories, featuring a total of 142 residential units. Of those homes, 126 would be at-market-rate units, while the remaining 16 would be designated as affordable housing. The average unit will span about 1,250 square feet. In an interview with Sarasota Magazine, the CEO of Omnium Real Estate shared that the units would be priced “‘substantially under $1 million’ to ‘substantially under $2 million.’”
The High Line would have more than 6,000 square feet of ground-floor retail. Image by Hoyt Architects
The High Line is unique in that it will offer attainable housing in the same complex as luxury residences. To qualify for various incentives, those units must be priced for those earning less than 80, 100, or 120 percent of the area median income (AMI).
Communal amenities would include a swimming pool and other resort-style offerings, such as a fitness center and outdoor gathering spaces. In addition to the 142 residences, there would be 6,600 square feet of ground-floor commercial space, which will likely host restaurants and shops.
The High Line could soon unfold at 32 and 40 N. Osprey Ave., Sarasota, Florida, 34236, in Sarasota County.
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