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Description

Payne Park Village ( PPV) is a mixed use project overlooking 36 acre Payne Park in Downtown Sarasota. Elements include multifamily ( condo) , retail and office. Zoning allow 25 resi units per acre; max height of 50 ' There are four phases, which can be staged as one development or each phase could be purchased separately.SEE ATTACHED OFFERING MEMORANDUM AND CURRENT RESI MARKET CONDITIONS REPORT . Phase 1. 5.75 acres . Intended use is a 112 unit residential community consisting of nine 4 story buildings. Offered at $5,965,000. Phase 2. 1.46 acres. Intended use is 80 resi units and 20,000 sf of office and/or retail. Offered at $1,100,000. Phase 3. 1.46 acres . Intended use is 46 resi units and 53,000 sf of office and/or retail Offered at $1,900,000 Phase 4. .87 acres. Intended use is 110 room hotel. Offered at $1,925,000. The Master Site plan has been approved by the City of Sarasota in a 10 yr Development Agreement signed in 2009. Building price details: $10,890,000.

Property Details

• Type: Land
• Status: Available
• Lot Size: 9.500 Acres
• Buildings: 1

Map Locations