realestate

Top Real Estate Headlines of the Year Ahead

Local Real Estate Market: A Year of New Developments, Record Sales, and Progress on Affordable Housing

S
arasota underwent a transformation in 2024, marked by new developments and historic preservation efforts. The St. Regis Residence and Resort on Longboat Key opened on the site of the former Colony Beach & Tennis Resort, featuring luxury living and resort-style amenities.

    Andrés Duany, a New Urbanism luminary, urged Sarasota to balance urban density with rural conservation, challenging outdated perceptions of its small-town identity. The City Commission approved a workforce housing project in downtown Sarasota, bringing 200 affordable units to the area.

    The local condo market shifted in favor of buyers, with increased inventory and higher median time to contract. Real estate expert Kristina Bregu advised sellers to price realistically to succeed.

    Sarasota County purchased Albritton Fruit Farms for $19 million, aiming to reduce waste disposal costs and cut dump truck traffic on public roads. The historic Colson Hotel was spared demolition thanks to a coalition of local organizations, which secured ownership and plans to preserve the building through a historic preservation easement.

    The Haven Residences at UTC will provide new housing options for adults with intellectual and developmental disabilities, featuring single-story residences and a clubhouse for social opportunities. Artist Joel Benham's Vibe Villa is a unique short-term vacation rental that showcases his playful art style.

    Hurricane Helene destroyed the iconic Sanderling cabanas on Siesta Key, designed by Paul Rudolph and recognized as an architectural prize winner. The loss highlights the need for coastal communities to adapt to climate change and overbuilding concerns.

Aerial view of city skyline with real estate properties, upcoming trends.