A luxury condominium project called The Palm 625 has broken ground in downtown Sarasota, with construction expected to be completed in the third quarter of 2026, according to a news release.
The 12-unit project at 625 South Palm Ave. will be a five-story condominium on a roughly half-acre site “just steps from downtown Sarasota, Selby Gardens, and the Sarasota Bayfront.”
Coldwell Banker Realty agents Ray Collins and Gina Mazzoni will lead sales efforts for the unit.
The condo will feature high-end finishes, Italian furniture, and luxurious flooring and countertops, according to a news release about the groundbreaking.
Sarasota-based Hoyt Architects designed the project and Voeller Construction was hired as the contractor.
The property was purchased by LV7 Investment Group in 2022 for $3.6 million. The property currently has a Downtown Edge zoning designation, which allows 25 units per acre.
VJ Chukkapalli, manager of the development company, owns a home on Longboat Key and said he is excited to work on a development project in the area.
“I will be fully involved in the project every step of the way,” he said in the release.
Mr. Collins, an agent with Coldwell Banker Realty, said the property’s small size could be a selling point for some buyers: “get in and out.”
Downtown, several large projects continue to be built, including Colter Urban and Property Market Group’s development of two 18-story condominiums at The Key Sarasota.
Collins said part of the appeal of living in a condo in or near downtown is the walkability of the area.
“There’s so much to do around this area that there’s little need to use a car,” Collins said.
