The downtown Sarasota condo boom is still booming, and the Rosemary District continues to rise. A 2014 overlay that increased density in the flourishing neighborhood just north of downtown Sarasota kickstarted the area with loads of new construction. Now, single-family homes and vacant lots are mostly blanketed in condos, restaurants and shops. But especially condos. 

The Gallery, a new collection of 60 condos spanning five levels with a sixth-floor rooftop, is coming to the now-cleared corner of Fourth Street and Cocoanut Avenue, just south of the Sarasota Modern Hotel, north of Fruitville Road and a few blocks from the bayfront. The land was purchased from Tso Sara Reopp LP for $3,754,100 in June of this year, and the look of the new project is in line with others that have recently popped up in the neighborhood, like Zahrada II (designed by the same architectural firm) on the same street.

Spanning just less than one acre in total, the ground level of The Gallery will also include just under 2,000 square feet of retail space. What will occupy that is still up in the air, but the units—now for sale with some contracts already underway— are not.

“We continue to have lots of people moving to Sarasota—2021 was crazy, but people are still thinking about how they want to live. We’re not going see that revert to pre-Covid days,” says Teresa Tyrrell of Coldwell Banker Realty, who is handling sales.

Sure, the local market has taken a breath after a sprint of post-pandemic panic buying, but what’s built new and up to current safety codes, with a great location is still in demand.

Price, of course, also matters. Eighty percent of all condo and townhome sales in the past 12 months in the same zipcode as the The Gallery have sold for less than $2 million, according to MLS data.

“It's been very active with interested buyers. They've been waiting for a luxe property for under a million dollars that’s still so close to it all," Tyrrell adds. "There are a lot of local older condos that are being hit with assessment fees and increased insurance rates, making some want to move away from that and buy new.”

Units at The Gallery range from 944 square feet with one bedroom and one-and-a-half bathrooms to 1,841 square feet with three bedrooms and three-and-a-half bathrooms. Prices range from $795,000 for condos to $1,995,000 for the penthouses. Terraces for each unit range from 38 square feet to 356 square feet.

The sixth floor rooftop is where residents will find the amenities—including a 20 foot by 36 foot pool and social lounge with views of Sarasota Bay and the downtown skyline. The Gallery will also have more than 2,000 square feet dedicated to a fitness center and yoga studio.

Empty lots across the street on the west of side of Cocoanut Avenue are zoned for up to 10 stories—but no plans for those are on the table yet.

The project will include five elevators—they'll open inside the penthouses—and multilevel-covered breezeways lead to residences. Almost every unit has a terrace, except for the first and second-floor units, which have 700-square-foot private courtyards instead.

“Our design takes advantage of our warm coastal weather, with an indoor-outdoor lifestyle. Most units have a terrace large enough for a dining table, while others even have an elevated yard,” says architect Michael Halflants, of Halflants + Pichette. The firm is active in the neighborhood and has transformed the area with similar-looking condo projects like Villa Ballada, Zahrada and Zahrada II, to name a few. 

He adds that the main design challenge with mid-rise condominium buildings is the proximity of the circulation to the units. “At The Gallery we solved the separation between public and private spaces by reducing the circulation to only serve the second and fourth floors and adding private windows on the floors below and above, creating several units that are two stories.”   

Similar to the project across the street at 332 Cocoanut, the new building will change the block with buried telephone and power lines, new curbs, gutters and paver sidewalks. New street lights will be added, too, as will trees on the north side. The contractors are Palm One Real Estate & Development and Georgia-based The Simpson Organization.

Tyrrell says that interest is roughly split between people both in-state and retired couples up north looking for a winter home. "We also see people from Tampa and Orlando. It’s hard to duplicate downtown Sarasota with the bayfront and the dining, shops and culture. It's such a special place,” she says.

The project is slated to break ground in early 2024, with anticipated occupancy in early 2026. And if you just can't wait, there’s a single, one-bedroom, one-bathroom unit for sale right across the street for $840,000.

 Interested? Contact Teresa Tyrrell of Coldwell Banker at (941) 961-0493.