The gossip has been confirmed. The Waldorf Astoria is coming to town, and if you know Sarasota even a little, you know the corner where it’s headed. Jebcore Companies (locallybased developer Jim Bridges and Sadek Omar), WMG Development and Hilton announced that the Five Points site—currently occupied by the 12-story Zenith building—will be rebuilt as Waldorf Astoria Residences Sarasota, introducing the luxury brand to the city for the first time.
The project sits at 1390 Main St. and 40 S. Pineapple Ave., a 1.19-acre site at the convergence of Main Street, Pineapple Avenue and Central Avenue. WMG Development bought the property, including its parking structure, for $24 million in 2023. The Zenith Building, constructed in 1972, has long been criticized for its bulky profile and deep setbacks that divorce it from street-level life at an intersection considered one of downtown Sarasota’s most prominent.
“We made a concerted effort to engage the public around the project’s street-level design,” says Omar. “We’ve worked with the Downtown Sarasota Condominium Association and neighbors and listened. It’s been a project in the making for more than two years. That Five Points site deserves a stronger presence. It’s an opportunity to improve a key intersection and it feels like a privilege to help reshape it.”
The developers plan to demolish the 12-story Zenith Building to make way for an 18-story residential tower. The original application, submitted earlier this year, proposed 96 residential units—including seven attainable units under the city’s bonus density program—alongside 42,000 square feet of commercial and office space on the ground and second floors that will include a restaurant and bar.
Now, plans include 86 private residences, with units spanning one to five bedrooms each and penthouses, too, of course…