601 SO SCHOOL AVE is aland property for lease in Sarasota, FL.
Payne Park Village ( PPV) is a mixed use project overlooking 36 acre Payne Park in Downtown Sarasota. Elements include multifamily ( condo) , retail and office. An apartment complex is a possible alternative. Zoning allow 25 units per acre. .
There are four phases, which can be staged as one development or each phase could be purchased separately.SEE ATTACHED BROCHURE OF DETAILS OF EACH PHASE
Phase 1. 5.75 acres . Intended use is a 112 unit residential community consisting of nine 4 story buildings. Offered at $5,965,000.
Phase 2. 1.46 acres. Intended use is 80 resi units and 20,000 sf of office and/or retail. Offered at $1,100,000.
Phase 3. 1.46 acres . Intended use is 46 resi units and 53,000 sf of office and/or retail Offered at $1,900,000
Phase 4. .87 acres. Intended use is 110 room hotel. Offered at $1,925,000.
A Master Site plan has been approved by the City of Sarasota in a 10 yr Development Agreement signed in 2009.