Naples developers are planning what is being sold as a luxury apartment project in Ringling Boulevard’s recently purchased property, and it appears to be using laws created to spur affordable housing to win approval for the project.
Lutgert Cos. said in a letter from a consultant who submitted documents to city authorities for the pre-application meeting it has designated 67 rental units for the project as “attainable” to meet local activity requirements.
The development is planned for approximately 2.4 acres of LLC purchased through the LLC, including a US garage building and a parking lot belonging to the Savior’s Church, at 330 S. Pineapple Ave.
Lutgert paid $11 million for US garage properties at 330 S. Pineapple Ave. and $15 million for church-owned parking lots at 301 and 303 S. Palm Ave. and 1360 Ringling Blvd, according to Sarasota County property records.
The Florida Legislature approved the Live Local Act in 2023 as a way to make projects easier to clear regulatory hurdles and eliminate obstacles set up by neighbors who opposed higher density and affordable projects near their homes.
Local governments require that multi-family development on properties zoned as mixed-use residential, commercial or industrial, where at least 40% of units are set aside as affordable for those who make up 120% of their local median income.
In a letter to the city’s auditors and clerks, the consultant wrote that the property is zoned at the downtown core.
The letter states that the development consists of two buildings with podiums connected to it. The western building is 18 stories tall and consists of 100 apartments. Eastern Tower is a nine-story building facing Pineapple Avenue and features 67 rental units.
“The achievable units required by the Live Local Act are located in the eastern buildings,” writes Joel Freedman of Freedman Consulting & Development LLC.
In addition to the residential portion of the project, there are plans for 18,584 square feet of commercial and retail space. And, according to Friedman’s letter, the lower levels of the podium that connect the two buildings include parking.
For now, there are no official signs that rental apartments are coming to the facility.
The only sign on this site is for Adagio Sarasota Luxury Residence. Includes a QR code and catchphrase “The show begins.”
The project’s website repeats its catchphrase, adding that “Downtown Sarasota Luxury is based on a new crescendo.”
The development team is Barron Collier Cos. and R&P Holdings are also included.
Lutgert has not responded to requests for comment.
