Crossgate Partners Launches Luxury FL Community
- Jan 23, 2018
Crossgate Partners LLC has announced its plans to build Océane, a luxury, six-condominium community in Sarasota, Fla. The development is expected to break ground this month and it is slated for completion within 12 to 14 months. Crossgate Partners has appointed Gilbane Building Co. as the general contractor. In December 2017, Gilbane topped out 1000 Park Avenue, a 267-unit community in Atlanta.
The property will be situated on Siesta Key, at 4740 Ocean Blvd., directly on the Gulf of Mexico, within 20 minutes of Sarasota-Bradenton International Airport. The area offers various dining, shopping and entertainment options; Siesta Key Village restaurants are approximately 10 minutes away from the asset. Additionally, the Ringling Museum, Sarasota Opera, Van Wezel Performing Arts Center and University Town Center are also near the development site.
Updates of the project include an approved FEMA permit for a seawall enhancement, to reduce impact from storm, as well as to remove the project from the velocity zone. This permit brings benefits such as:
- reduced insurance costs by 60 percent
- enhanced private three-car garages
- air-conditioned lobby
- ground floor office for concierge
“As a result of Océane’s project progression, the interest level has increased substantially, and we are experiencing many serious interested parties,” said Peter Laughlin of Premier Sotheby’s International Realty, in prepared remarks. The per-unit price starts at approximately $3.9 million.
Image courtesy of ADHoc Studio