1923 5th Street
Exclusive Turnkey Multi-Family Development Opportunity | The Velocity Project
Marketing description
Exclusive Turnkey Multi-Family Development Opportunity | The Velocity Project
Capitalize on the historic demand for luxury urban residential living with The Velocity Project, an exceptional, fully entitled development site in Sarasota’s premier path of growth. Positioned on a strategic quarter-acre site within the vibrant Gillespie Park neighborhood, this shovel-ready parcel represents a true turnkey opportunity for a builder or investor to break ground rapidly and bypass the traditional multi-year planning pipeline.
Fully Entitled & Accelerated Timeline
Every layer of pre-development friction has been cleared. This offering conveys with an exhaustive transition package, including complete technical reports, comprehensive cost analysis models, and fully realized architectural blueprints. With critical Development Review Committee (DRC) sign-offs fully secured and building permits projected within an efficient six-week window, the project is structured to transition seamlessly to active construction.
Sophisticated Architecture & Boutique Scale
The site features an exceptional, forward-thinking building design from the highly regarded Solstice Architecture Firm. Channeling the coastal sophistication of Spain and Portugal, the plans deliver a striking 4-story boutique condominium complex containing six expansive, high-end residences. Each layout prioritizes modern luxury, fluid open-concept entertaining areas, top-tier finishes, and upscale private amenities specifically engineered to command premium pricing from today’s discerning luxury buyers.
Unmatched Neighborhood Dynamics
The property leverages the unique advantages of Sarasota's flexible Downtown Edge (DTE) zoning, positioning it at the focal point of a rapidly appreciating urban district. Gillespie Park effortlessly blends a neighborhood feel with metropolitan convenience, surrounding residents with an Eclectic mix of dining, local retail, and neighborhood parks, all while remaining minutes from the heart of the Central Business District.
Complete architectural plan sets, detailed financial projections, construction estimates, and site survey materials are available upon request. Contact the Listing Agent today to schedule a private site introduction.
Investment highlights
- True Shovel-Ready, Turnkey Asset: Skip the costly and time-consuming entitlement phase. The acquisition includes a complete package of architectural drawings, technical reports, and cost analyses, allowing for an immediate operational transition.
- Secured DRC Approvals: Development Review Committee (DRC) approvals are already in place, with final construction permits projected to clear within approximately six weeks for an accelerated construction timeline.
- Premium Downtown Edge (DTE) Zoning: Situated on a prime 0.24-acre footprint with flexible, high-density DTE zoning tailored for modern multi-family urban residential projects.
- Acclaimed Architectural Design: Approved for an exclusive 4-story low-rise project featuring 6 generously scaled luxury residences designed by the renowned Solstice Architecture Firm.
- High-Demand Iberian-Inspired Concept: Plans call for an elegant aesthetic influenced by the coastal architecture of Spain and Portugal, capturing the attention of affluent buyers seeking upscale, unique residential products.
- High-Growth Gillespie Park Location: Located inside the coveted 34236 urban core, an area experiencing immense capital investment, strong buyer demand, and seamless walkability to downtown boutiques, dining, and parks.
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