Sarasota, Florida (PRWEB) November 05, 2012
Property developer Jebco Ventures has scaled down its project to build a high-rise residential building in the 2.05-acre property it purchased at Ringling Blvd., Sarasota City, in April 2012. This vacant lot is the former site for the Atrium apartment project that was shelved because of the economic downturn. The property is situated just north of Morill Street in Laurel Park, one of the historic neighborhoods in Sarasota. The Jebco site, it turned out, was zoned for only 75 apartments, a classification that prompted the developer to revise its plan. It will now instead seek a permit from City Hall to construct 45 townhomes at the site.
Jebco isn’t a newcomer in the Sarasota real estate market. In 2005, this company, which also has properties Georgia, completed the development of Vista Bay Point, a two-building luxury condo at the Golden Gate Point Peninsula northwest of downtown Sarasota. There are only 16 units in this condominium wherein the residences have floor areas ranging from 3,000 to 3,500 square feet. Their price points are in the $1–2.5 million range.
The planned Jebco townhomes at Ringling will be priced much lower at starting prices in the $300s. The project’s blueprint calls for three-story, air-conditioned residences having floor plans ranging from 1,400 to 2,400 square feet. Building permits are expected to be secured by this December and construction to start in the first quarter next year.
The Jebco property’s location next to Laurel Park certainly adds value to these planned townhomes. The site’s quiet, next-door district was awarded in 2008 the distinction of a listing in the National Register of Historic Places. This historic community covers about 50 acres wherein some 300 homes are nestled. The architectural style of the residences here is impressive and quite eclectic. Charming cottages, apartments, and bungalows circa the 1920s are hallmarks to this locality which is ribboned with brick-paved streets and shaded by lush oak trees.
Laurel Park covers some nine city blocks. On the north, it is bounded by Morril Street, and Alderman Street delineates its southern perimeter. Orange and Rawls Avenues are on its western boundary while Julia and Lafayette Court define the neighborhood’s eastern periphery. This friendly residential neighborhood has been dubbed as a “Walkers’ Paradise” because of its close proximity to the rich mix of venues for dining, shopping, and entertainment at the Sarasota downtown district.
The Laurel Park residents, composed mainly of young families and retirees, take pride in their community’s small-town ambiance. The neighborhood association in this district strives to preserve this identity that is much sought-after by prospective buyers of Sarasota homes for sale. The homeowners in the community, for instance, want to have a say on planning for future developments in and around their area.
Specifically, they are eying active involvement in the planning of any commercial development within 100 feet of Laurel Park’s boundaries. The neighborhood association appears happy with Jebco Ventures’ scaled-down plan for the Ringling Blvd. town homes. This three-story project would be more suited to our locality, one association official was quoted as saying.
About Sarasota Bay Real Estate
Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide some of the highest quality real estate marketing services for the properties in the company’s inventory. When property marketing strategies are paramount in sellers listing requirements, Sarasota Bay Real Estate is the clear choice in the Sarasota real estate market.
Contact information for Sarasota Bay Real Estate can be found at http://sarasotabayrealestate.com