The deal to sell Sarasota’s Historic Downtown Village to an apartment developer has fallen through, ending the purchase agreement behind a proposal to replace the colorful cottages along Fruitville Road with 324 apartments.
In an Oct. 3 email to tenants, property owners Alex and Marlene Lancaster said the contract was no longer in effect and that they intend to continue owning and managing the property.
“We are not listing the property, marketing the property, or seeking a buyer,” they wrote. “The property is not being offered for sale.”…