SARASOTA, Fla. – The City of Sarasota has issued a permit for construction to move forward at The DeMarcay (DeMarcay33SouthPalm.com), a luxuriously appointed residential project by XAC Developers, LLC, soon to be built at 33 S. Palm Avenue in downtown Sarasota. The permit was issued on October 15, 2015, which marked the last day the developer could obtain approval under the existing site plan.
“We are extremely pleased that our diligence paid off,” said Greg Kveton, co-principal of XAC Developers, LLC. “This endeavor required a very stringent review process, and we were making adjustments up until the very last day. We’d like to thank the City of Sarasota for its efforts. At the end of the day, this was an all-out effort by all parties to get this accomplished. Now we get ready to build,” said Kveton.
Construction on the 18-story building is expected to begin in the first quarter of 2016, with an 18-month anticipated build time. Future residents should be able to move in during the fall of 2017.
In accordance with the original site plan, XAC Developers will contribute $50,000 to the Palm Avenue Merchant’s Association (PAMA). Additionally, under the permit, the developer and the City of Sarasota have agreed to preserve the two unique historical facades from the original buildings in their current locations.
With 12 reservations so far, Premier Sotheby’s International Realty, The Plaza Office in Sarasota is marketing The DeMarcay. The building has gained immediate interest mostly from local buyers looking to live in the heart of downtown, close to amenities, world-class beaches and plentiful dining choices.
The contractor for the project is Naples-based BCBE, the architect is Sarasota firm Parker Walker Group and JKL Design Group, Inc. is the designer. The local design firm intends to honor the site’s history by including historical elements in the new building’s lobby from the former cigar factory and hotel originally located on the site.
The DeMarcay will offer condo owners expansive waterfront views and floor plans ranging from 1,144 to 3,106 square feet with the ability to combine units for larger square footage. Additionally, the standout feature of the building will be its rooftop pool, the only one of its kind in the Sarasota market, showcasing magnificent views of the Gulf of Mexico and the Sarasota Bay.
Prices range from $500,000 to more than $3 million, and a $10,000 refundable deposit is required to reserve a spot.
About The DeMarcay
The DeMarcay at 33 S. Palm Avenue will include 39 luxuriously appointed historic-modern residences featuring the influences of the acclaimed JKL Design Group coupled with the convenience and excitement of downtown living. The DeMarcay will have amenities including elevator accessed parking levels, valet service, a rooftop fitness center, club room and pool high above the collection of Zagat-rated restaurants, galleries and entertainment venues. Its historic address and the convenience and culture of downtown make the building a prime location for downtown dwellers. The sales center at 33 South Palm is open daily for presentations. For more information, contact Perry Corneau at 941-650-4626 or Vittoria Rutigliano at 941 962 5867 or visit DeMarcay33SouthPalm.com.