High-rise Downtown Sarasota

Carter, Hunt Investment Management to Build High-Rise Apartments in Downtown Sarasota

by John Nelson

SARASOTA, FLA. — Carter and Hunt Investment Management have formed a joint venture to develop a 180-unit high-rise apartment community in downtown Sarasota. The development will be located at the corner of 2nd Street and Central Avenue, directly across the street from Whole Foods Market. Hunt Investment Management is managing the investment on behalf of an institutional client, and SunTrust Bank is providing construction financing. The 10-story, Class A project will include one-, two-, three- and four-bedroom apartments and 15,000 square feet of retail space. Each unit will feature quartz countertops, stainless steel appliances, open floorplans, large windows, 10-foot ceilings, balconies and high-speed Internet wiring. Community amenities will include a 24-hour fitness center, resort-style swimming pool, clubroom and an outdoor deck. The first three stories of the development will include secured parking for residents. Two hotel-style suites for tenants to rent for short-term guests will also be available. The design team includes architect Hoyt Architects, general contractor Core Construction and property manager Pinnacle Property Management. The project will start construction before year-end with completion scheduled for early 2017.

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