GK Development has started construction on The DeMarcay, a luxury 39-unit condo building in downtown Sarasota, Fla. Developed on the site of the former DeMarcay Hotel and The Roth Cigar Factory, the 18-story tower will incorporate the historic façades and selected interior materials from both buildings dating from the 1920s. Voeller Construction is the general contractor and Parker Walter Group is the architect of the project, which is slated for completion by summer 2021.
Located at 33 S. Palm Ave., the property is within walking distance of Bayfront Drive and the waterfront. Various shopping, dining and entertainment venues are within a one-mile radius and Sarasota-Bradenton International Airport is roughly 4 miles north. The DeMarcay will rise less than 1 mile south of another luxury condo development—BLVD Sarasota—that received a $75 million construction loan from Knighthead Funding in May.
With Ma’am Design Collective to provide the building’s interior design, The DeMarcay will include one- to three-bedroom floorplans ranging from 1,144 to 3,106 square feet. Units can also be combined for larger square footage, if needed. Community amenities will feature a rooftop pool with waterfront views of the Gulf of Mexico and Sarasota Bay, an outdoor kitchen, fitness center and garage parking.