One Park Sarasota receives crucial approval
By Breanne Williams
Tampa Bay Business Journal
Published: Jun 28, 2024

One Park Sarasota, an 18-story luxury condominium tower planned for downtown Sarasota, has received a key approval from the city.

The tower is a joint venture between New York-based Property Markets Group and Sarasota-based MoneyShow. Sarasota’s Planning Board gave full approval for the project on June 13.

"Reaching this milestone and advancing toward groundbreaking is a testament to the tremendous collaboration between our development and design teams alongside the city,” Dan Kaplan, managing partner at PMG, said in a statement. “We look forward to the next steps in the construction process and to delivering an incredibly high-quality product to Sarasota, one that will redefine luxury condominium living.”

The group purchased the property for the project in October 2023 for $37 million. At the time, they believed they had purchased the air rights between the two sites and planned to have a breezeway over Quay Commons, a bisecting street between the two parcels.

Once a Sarasota County judge determined the airspace was not in their ownership, the developers shifted to a new vision for the project. One Park Sarasota will be built on the Boulevard of the Arts and feature 86 residences and 5,000 square feet of retail space.

The tower, designed by Sarasota-based Hoyt Architects, will have condominiums and penthouses on the top floor and townhomes on the bottom two levels of the site. The condos will have three bedrooms, 12-foot ceilings and floor-to-ceiling windows. The residences will also have expansive outdoor terraces with summer kitchens.

The penthouse and townhouse owners will have access to outdoor kitchens, private rooftops and plunge pools.

Amenities for One Park Sarasota will include an infinity-edge pool and spa deck, a wellness spa with a Hammam spa, a fitness studio, a Pilates and yoga studio, cycling rooms, saunas and steam rooms, private lockers, a dog run, an owner’s lounge and a private theater.

Kaplan previously told the Tampa Bay Business Journal they intend to break ground at the end of the fourth quarter of 2024 or the beginning of 2025. Sales launched to the public on Jan. 11. Within the first week, they were more than 40% sold.

“Having experienced continued sales success, our development team is eager to bring One Park Sarasota into reality,” Kaplan said in a statement. “We are confident One Park will deliver an exceptional community-forward experience to downtown Sarasota upon completion and excitedly look onward toward celebrating breaking ground later this year."

Earlier this month PMG and MoneyShow announced the next phase of their revised plans for the One Park project. On the second parcel, the group plans to build One Park West, which will feature 69 fully furnished condominiums. The tower will also have a penthouse collection.