601 S. School Avenue, Sarasota, FL 34237 - vacant land property

Detailed information about vacant land property which situated in Sarasota (34237) city, Florida state on 601 S. School Avenue.
residential with large recreational park

Additional Information: Payne Park Village (PPV) is a mixed use project overlooking 36 acre Payne Park in Downtown Sarasota. Elements include multifamily (condo), retail and office. DONWTOWN EDGE "DTE" ZONING ALLOWS FOR 25 UNITS PER ACRE WITH A MAXIMUM HEIGHT OF FIVE STORIES OF VERTICAL DEVELOPMENT. There are four phases, which can be staged as one development or each phase could be purchased separately. SEE ATTACHED OFFERING MEMORANDUM AND CURRENT RESIDENTIAL MARKET CONDITIONS REPORT. Phase 1. 5.75 acres. Approved use is 112 unit condominium residential community consisting of nine buildings, four 3-story and five 4-story). Offered at $3,800,000. Phase 2/3. (a) 2.92 Acres permitted for 126 condo residential units $4,160,000, and (b) 73,000 SF zoned for office/retail use. Offered at $1,550,000. Phase 4. 0.87 acres. Permitted use is 110 room hotel or office. Could be retail outparcel for proposed Wal-Mart adjoining subject property. Offered at $1,150,000. The current Master Site plan has been approved by the City of Sarasota in a 10 year Development Agreement signed in 2009. Some changes to site plan (not density) are permitted by the Minor Conditional Use process.