A condo project planned for a city block in downtown Sarasota marked a milestone recently after receiving approval from the city’s planning board. Called Saravela, the tower will include 282 condominiums, including 11 townhome-style units, as well as retail space. The 1.7-acre site where it will be built spans nine parcels, encompassing a full city block along North Tamiami Trail between Fourth and Fifth streets.
Chicago-based real estate firm GSP Development has been working with the city and the community for more than a year to fine-tune its plans before gaining approval this month to proceed with the development. Among modifications the developer made were expanding sidewalks to 20 feet wide, with large canopy trees and palms added to enhance the streetscape; including 40 attainable housing units; and incorporating 30 public parking spots.
Saravela will also create more than 10,400 square feet of ground-floor retail space along North Tamiami Trail, including a gourmet market and coffee bar…