Close Call: The DeMarcay Gets The Green Light

The City of Sarasota has issued a permit for construction to move forward at The DeMarcay, a luxuriously appointed residential project at 33 S. Palm Ave.
DeMarcay

DeMarcay

The developers of The DeMarcay heaved a sigh of relief on October 15 as the City of Sarasota issued a permit for the construction of the 18-story luxury residential project at 33 S. Palm Ave. to move forward. The date marked the last day the developer could obtain approval under the existing site plan.

XAC Developers selected Sarasota firm Parker Walker Group as architect for the building,  JKL Design Group is the designer  and Naples-based BCBE is the contractor in charge. In accordance with the original site plan, XAC Developers will contribute $50,000 to the Palm Avenue Merchant’s Association. Additionally, the developer and the City of Sarasota have agreed to preserve the two unique historical facades from the original buildings in their current locations.

The DeMarcay will offer floor plans ranging from 1,144 to 3,106 square feet with the ability to combine units for larger square footage. It will also feature a rooftop pool with views of the Gulf of Mexico and the Sarasota Bay. The project already has 12 reservations in place—one of Premier Sotheby’s International Realty’s Sarasota offices, The Plaza at Five Points is marketing The DeMarcay.

Groundbreaking is scheduled in the first quarter of 2016, with an 18-month anticipated build time. Prices start from $500,000 and go beyond $3 million, and a $10,000 refundable deposit is required to reserve a spot. Future residents should be able to move in during the fall of 2017.

Rendering courtesy of Premier Sotheby’s International Realty