« Back To SRQ Daily Archive

SRQ DAILY Oct 10, 2016

Monday Business Edition

Please allow images to view this email properly

Monday Business Edition

"We are tremendously excited about the potential positive impact this neighborhood could create for the entire region."

- Whiting Preston, Manatee Fruit Company
 

[Real Estate]  Cash Sales For August 2016
Diana Morales

Cash sales are an important and useful indicator in the market, demonstrating the extent to which investors are participating. Investors are far more likely to have the funds to purchase a home available up front rather than the typical homebuyer requiring a mortgage or some other form of financing. Florida Realtors shares the cash sales for townhouses and condos in August 2016. As seen on the chart cash sales were higher August 2015.  

[Development]  Peninsula Bay Projects Approved
Jacob Ogles, jacob.ogles@srqme.com

A plan to build nearly 2,000 homes in a new development on Cortez Road cleared a hurdle last week when Manatee County Commissioners approved a general development plan for Peninsula Bay. The complete development of the site will take place over a decade, officials with Manatee Fruit Company say, transforming more than 358 acres from agriculture to housing. 

“We are thrilled by the decision of the county commissioners and look forward to the next steps in making our vision of Peninsula Bay a reality,” says Whiting Preston, Manatee Fruit Company owner. “We are tremendously excited about the potential positive impact this neighborhood could create for the entire region. We thank the county staff and Planning and Zoning Board for their recommendation of approval to the Board, as well as everyone who spoke today on our behalf.”

A development team plans to construct up to 1,950 homes with a boat ramp and kayak launch, a 67-acre lake to buffer existing mangroves and a waterfront shopping and dining area, including 90,000 square feet of nonresidential uses and a dry storage boat marina capable of holding 200 vessels.

The unanimous approval came after a lengthy public hearing that into the evening last Thursday. Preston’s family has owned the property since the 1940s, according to spokeswoman Linda Gross. Before ground actually breaks on the property, developers will also need to get approval from state agencies including the Southwest Florida Water Management District.

The hearing was marked by concerns of neighbors that the tiny Cortez community couldn’t handle the increase in traffic to be generated by the development. Developers argued that the project was surrounded by residential neighbors and was consistent with the area.

Over the course of the buildout, developers expect the project to generate 2,700 construction jobs, and that the resulting community will have 164 permanent jobs created on-site. Officials predict a $4.5 million annual economic impact to the county and an $800,000 net fiscal impact to local schools. To match nearby architecture in Cortez, developers say homes will be inspired by Old Florida. But Gross stresses that it will take some time to complete that project. Buildout is expected over five to ten years. 

[Relocation]  Michael Saunders Relocates Sarasota Office

Michael Saunders & Company is moving their Downtown Sarasota office on the corner of Osprey Avenue and Main Street to the Ellis building on Orange and Main. The new office, located at 1605 Main St. officially opens to the public on October 10, where it will house nearly 100 real estate representatives. 

Michael Saunders & Company

[Exec Moves]  Hansen Joins Board of Trustees for Selby Gardens

Marie Selby Botanical Gardens has elected its newest member of the Board of Trustees, Teri A Hansen. Hansen, who is president and CEO of the Charles & Margery Barancik Foundation, has been elected to serve a three-year term on Selby Gardens’ Board of Trustees. Hansen has more than 25 years of experience in philanthropic leadership. Prior to joining the Barancik Foundation, she was president and CEO of Gulf Coast Community Foundation. She was also vice president for gift planning and donor relations at The Cleveland Foundation, the oldest and one of the largest community foundations in the United States.  

Selby Gardens

SRQ Media Group

SRQ DAILY is produced by SRQ | The Magazine. Note: The views and opinions expressed in the Saturday Perspectives Edition and in the Letters department of SRQ DAILY are those of the author(s) and do not imply endorsement by SRQ Media. Senior Editor Jacob Ogles edits the Saturday Perspective Edition, Letters and Guest Contributor columns.In the CocoTele department, SRQ DAILY is providing excerpts from news releases as a public service. Reference to any specific product or entity does not constitute an endorsement or recommendation by SRQ DAILY. The views expressed by individuals are their own and their appearance in this section does not imply an endorsement of them or any entity they represent. For rates on SRQ DAILY banner advertising and sponsored content opportunities, please contact Ashley Ryan Cannon at 941-365-7702 x211 or via email

Copyright © 2024 by SRQ Media Group, 331 South Pineapple Avenue, Sarasota, FL 34236.
Powered by Sarasota Web Design | Unsubscribe

Read More

Where Oil Meets Water

Where Oil Meets Water

Phil Lederer | Mar 1, 2024

Freedom to Wander

Freedom to Wander

Laura Paquette | Mar 1, 2024

Drive and Dine

Drive and Dine

Laura Paquette | Mar 1, 2024

A Mesmerizing Journey

A Mesmerizing Journey

Barbie Heit | Mar 1, 2024