Up On Downtown

When artist-author Pat Kaufman moved to Sarasota from Manhattan last year, she didn't think twice about where she would live.

"It was downtown or nothing," says Kaufman, who bought a spacious and light-filled condo at The Regency on Palm Avenue. "I wanted to be able to be walk to everything and not bother with a car."

Kaufman isn't alone in her desire to live downtown. For two years, Sarasota's downtown real estate boom has been front-page news, with 1,130 new residential units already built and more than 2,200 condominiums in various stages of planning or construction. Most of these residences were purchased long before construction began, with some buildings selling out within hours.

The return to downtown living is a national trend, says John Burg, chief planner for the city of Sarasota.

"People all over the country are rediscovering urban life. Baby boomers are moving to urban settings once they become empty-nesters or are post-retirement. They look for proximity to culture, shopping, street life and other amenities that urban life has to offer."

Who wouldn't want to live in downtown Sarasota? Nestled along a magnificent stretch of bayfront with a bustling marina, downtown Sarasota has been transformed into an active urban core with a dynamic mix of businesses, modern condominiums, historic buildings and attractive streetscapes. A cultural hot spot, the area is home to a host of performing arts spaces, art galleries, antique shops, boutiques, bookstores and restaurants. The streets come alive with regular arts festivals and a popular Saturday farmers' market. The new Whole Foods Market Centre attracts shoppers from around the area.

Downtown Sarasota's new denizens are a mix of retirees, baby boomers on the edge of retirement and the handful of young professionals who can afford the hefty price tags, says Linda A. Page, vice president of new homes for Prudential Palms Realty. A recent downtown convert herself (she owns a condo at Beau Ciel, a luxury tower on Boulevard of the Arts near the Van Wezel Performing Arts Hall), Page says many buyers are Sarasotans relocating from Longboat and Siesta keys and gated communities. These new retirees aren't content to spend their golden years basking in the sun; they're exchanging the tranquility of golf courses and beachfront for the stimulation of downtown life, craving the sense of community and forward motion that only a bustling urban area can deliver. "It's impossible to achieve that same feeling of connection in a planned community-no matter how nice or how large the community is," she says.

Galena Kraus agrees. A former Longboat Key resident, Kraus moved last winter to The Plaza at Five Points, a new mixed-use development in the heart of downtown Sarasota. "I feel connected downtown," she says. "When I lived on the key, I shut my door and that was it. Here, we're part of a community; there's always something going on."

Page is gearing up to market such upcoming downtown projects as City Place at Pineapple Square, a $200 million mixed-use development slated for construction next year. Other new condo projects include Alinari at Rosemary Place, Kanaya, the Atrium on Ringling, Rivo on Ringling, and The Grande Sarasotan. And though real estate sales have slowed down elsewhere lately, downtown prices are holding their own, with average sales in the mid-$700,000s. "But you can still purchase a one-bedroom unit at the Renaissance in the mid- $300,000s," says Page. "On the other hand, the Grand Penthouse at Beau Ciel goes for just under $9 million." Interested?

Bradenton's Remarkable Renaissance

While Sarasota's downtown resurgence is well under way, the revitalization of downtown Bradenton is just beginning. City officials and business and civic leaders are in the process of transforming this charming, once-sleepy downtown district on the Manatee River into a thriving urban core where arts, industry and county government share a shining center stage.

"We're seeing a billion dollars' worth of development happening in Bradenton today," says Neil Spirtas, vice president of public affairs at the Manatee Chamber of Commerce. "We anticipate that will double in the next few years."

Slightly more than 2,000 people currently live in the 14 square miles of downtown Bradenton. But with almost 500 residential units under construction or in the approval process, Bradenton Mayor Wayne Poston expects this figure to increase rapidly.

"The former mayor declared that downtown Bradenton would be a government center and would close at 5 p.m. We've changed that by reworking our comprehensive plan and encouraging investors to build downtown," says Poston.

The Promenade at Riverfront is a key player in downtown Bradenton's resurgence. Fronting the Manatee River in the soon-to-be-swanky Manatee Riverwalk District, the Promenade will offer 350 luxury residences and thousands of square feet of retail and office space. When completed, it will feature three eight-story residential towers, six two-story office/retail buildings, two multistory parking garages and a 99-room hotel. For now, prices of residences still fall below those of comparable units in Sarasota. The project is headed by Jan Smith and Robert Hatfield, whose Atlanta-based Hatfield Company is also behind the nearby Mainstreet at Bradenton Apartments, offering 216 luxury apartment homes.

Smith, a 40-year resident of Bradenton, says the project is "wonderful for the revitalization of Bradenton. It's a win-win situation. The condos bring residents, and the residents attract business. All of this activity keeps the streets healthy and lively."

Other downtown developments are under way, with millions of dollars being directed toward street improvements, district contouring and commercial development. A $65 million county judicial center will begin construction later this year, and a $35 million addition to Manatee Memorial Hospital is already under way. The Riverwalk Professional Center, a multi-use facility with a mix of medical, dental, law, and accountant offices, will be a state-of-the-art monument to downtown enterprise.

Cultural amenities are no stranger to Bradenton, either. The Manatee Riverwalk District is home to libraries, arts centers, the Bishop Planetarium, the Southwest Florida Museum and The Manatee Players. The Village of the Arts, a special arts district created in a formerly blighted neighborhood on the edges of downtown, now houses artists' galleries, studios, specialty boutiques and cafés.

Venice Grows Up

"It is a privilege to live in Florida, and a distinction to live in Venice," wrote The Venice News on June 3, 1927; and nearly 80 years later, residents of this mid-sized south Sarasota County community still agree.

One of the earliest planned cities in the United States, Venice is known for its historic downtown district, scenic parks and spectacular beaches. Venice has long been favored as a retreat from the bustle of city life. Those who vacation and live here choose the Venice area for its graceful ambiance, cultural amenities and preserved natural environments.

Fortunately for Venice, business and government leaders are keen to preserve its small-town charm-especially in the six-block downtown district.

"The City Council is trying to balance economic development with maintaining the historic character of the city," says Venice City Manager Martin Black. "There's a perspective we hear at public meetings that says, 'Don't let Venice become like downtown Sarasota.'"

But while most Venetians agree that the historic district should be left alone, there is a concentrated effort to redirect zoning regulations to develop the land alongside the Intracoastal Waterway, located on the edges of Venice's downtown district. Previously used for industrial purposes such as concrete plants and a railroad yard, this waterfront property is prime territory for commercial and residential projects. (To stimulate revitalization, the city built a 10-mile bike and walking path called the Venetian Waterway Park.)

One of the biggest movers in the Intracoastal Waterway revitalization push is developer Mike Miller, president of Waterford Companies. His residential project, The Waterfront on Venice Island, comprises three nine-story condo towers just over the Venice Bridge leading into the city. Construction of two of the towers is already complete. Prices for the 96 units range from $400,000 to $1.2 million.

Miller firmly believes that carefully planned urban development is in Venice's best interests. He's working with the city of Venice to develop a commercial mixed-use zoning district as phase two of his project. "This district would allow for hotels, condominiums, retail, restaurants, parking garages and other uses that complement one another and/or are located in close proximity to each other," he says, adding that, if approved, construction will begin at the end of 2006.

"There's a strong interest to invest in the waterfront district," says Black. "Property values have increased tremendously here, and more people are interested in moving here. Our city council is taking a measured approach; instead of tearing down existing neighborhoods, we're building on previously undeveloped land. That's where you'll see new growth developing."

Lueanne Wood, a top-selling Coldwell Banker real estate agent in the Venice area, attributes the increased interest in downtown real estate to Venice's unique charm and still manageable prices. "Venice is now on the radar for younger people planning ahead for their retirement," she says.

"Venice has changed since its original design, but it hasn't lost its small-town charm," says John Ryan, president of the Venice Chamber of Commerce. "It's this character that makes it attractive for the next generation of folks who come here. We hope in 20 years from now people will say, 'Keep it the way it is'."