La Linda Estates adding new homes, a rarity for Siesta Key | Market Snapshot

Chris Angermann
·3 min read

It’s unusual to have a new neighborhood of luxury homes spring up on Siesta Key. With an entrance on Givens Street, the gated and walled subdivision of La Linda Estates has 13 home sites, grouped along Bochi Circle around a small retention pond. Four of the lots have Gulf of Mexico views. The others face Lake Norma to the east.

There are five existing, three-story homes which were built from 2009 to 2015 in West Indies architectural style, with white ornamental window shutters and attractive covered balconies. The houses have large 3-car garages on the ground floor, with plenty of space for storing a golf cart, kayaks and beach gear. The second and third floors feature four bedrooms and five baths. Living space ranges from 2,970 to 4,358 square feet.

Of the five existing homes in La Linda Siesta Key, three are still available for purchase. Eight more are expected to be built over the next 12 to 16 months.
Of the five existing homes in La Linda Siesta Key, three are still available for purchase. Eight more are expected to be built over the next 12 to 16 months.

 

“The location is great – a block from the Gulf – gated and private,” said Malia Smiley, an agent with Charles Rutenberg Realty, who has been tasked with sales and promotion for the project.

The initial owners were a couple that bought the finished homes and undeveloped lots. At the time, it was called Coronas Circle. When the husband died, his widow continued to live in one of the houses and rented out the others to vacationers. By time she sold the entire property, the homes had sat vacant for a year and a half.

The new owners, Uppergrowth International Asset managers, renamed the neighborhood La Linda Siesta Key Estates to conform with their brand of real estate developments in the Gulf Coast area. Headquartered in Montevideo, Uruguay, the investment company creates real estate strategies in the United States and Latin America. It has plans to construct new homes at La Linda Indian Beach in Sarasota and La Linda Pine Bluff in Clearwater, as well as in Miami, over the next five years.

The builder for La Linda Siesta Key is Nelson Construction and Renovations, a family-owned business from Clearwater that specializes in high-end jobs. “They are a one-shop design-build firm,” said Ron Rice, the site superintendent. “They have a six-month setup during which they design the project before starting construction.”

This fully renovated home at 6925 Bochi Circle has four bedrooms and five baths and is 3,796 square feet with an asking price of $2.29 million.
This fully renovated home at 6925 Bochi Circle has four bedrooms and five baths and is 3,796 square feet with an asking price of $2.29 million.

The company began permitting and approval of drawings in January of this year. Then, it tackled the five existing buildings. “They started rehabbing in April-May and finished in July,” said Smiley. “They basically gutted the interior and gave it a modern, coastal look, with clean lines and finishes.”

“We kept the drywall, except in the kitchens, and put in all new flooring and repainted the interior and exterior,” said Rice. “There are no upper kitchen cabinets, but we put in floating shelves and a full Viking appliances package.”

To give La Linda a cohesive look, the new homes will match the style of the existing ones. All the dwellings have external stairs leading to the second floor. Four of the five existing houses have elevators as well. “We’re putting those into all the new homes, too,” said Rice. “By the time we finish, every home will have en suite bedrooms with their own bathrooms, too.”

Nine of the homesites in La Linda Siesta Key look east toward Lake Norma.
Nine of the homesites in La Linda Siesta Key look east toward Lake Norma.

He figures to break ground in the next two to four weeks. “We’re looking at a 12- to 16-month work period,” he explained. “A majority of the subcontractors have stayed on even with the hurricane. Everything is going smoothly as expected.”

Whether they are year-round occupants or second home owners, residents can look forward taking advantage of the great location. With La Linda Estates just a half-mile walk or bike ride from the north end of Siesta Village, they will be able to get to the beach or enjoy dinner out in less than five minutes.

Since the renovation of existing properties was completed, two of the five existing homes have been sold. The others three are move-in ready, with asking prices from $2.29 to $2.69 million.

“The three current ones have the best price per square foot,” said Smiley. “The new ones will be more, with prices ranging from $2.35 to $2.55 million.”

This article originally appeared on Sarasota Herald-Tribune: Siesta Key homes for sale: Eight yet to be built in La Linda Estates