New hotel approved for downtown Sarasota bayfront district
A new hotel is slated for construction downtown with the go-ahead from the city.
The unnamed project, on more than one-third of an acre at 1225, 1233 and 1243 Second St., will consist of 173 rooms and a parking lot. It will sit right next to the Embassy Suites and add to hotels like The Westin and The Ritz-Carlton just across North Tamiami Trail.
M2RE Partners LLC — a real estate investment firm with projects in Tampa, Osprey, North Port, and other Southwest Florida cities — proposed the project as a mixed-use property in September 2022. The company resubmitted to development services twice before receiving approval Oct. 16.
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The hotel's site was acquired for $2.5 million in February 2022, according to property records. M2RE Partners' website boasts a picturesque view overlooking downtown and the bay from the development's future penthouse.
The hotel’s zoning is split between the Downtown Bayfront district and the Downtown Core district, allowing for buildings up to 10 stories at 18 feet per story. A name for the project has yet to be announced, and a completion date is unknown.
Contact Herald-Tribune Growth and Development Reporter Heather Bushman at hbushman@gannett.com. Follow her on Twitter @hmb_1013.
This article originally appeared on Sarasota Herald-Tribune: Sarasota OKs new 173-room hotel on 2nd Street in downtown
