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Lido Key condo project takes off

Mike Beaumier, Patrick DiPinto, David Hargreaves, Brenda Patten, Mark Sultana, Tim Hensey, Tom Denslow

STEVE REID
Editor & Publisher
sreid@lbknews.com

Nothing is more tangible or visually affirming of a healthy real estate market than witnessing the construction of luxury condominiums rising in Sarasota and the surrounding islands.

And last Friday marked the latest development with the groundbreaking of Park Residences of Lido Key where 18 units will be completed within a year on the last developable vacant parcel on Lido Key. The 1.3-acre site is situated between the Gulf and Bay within walking distance of St. Armands Circle.

Partners Patrick DiPinto and David Hargreaves, of Seaward Development, teamed up to examine the possibilities of the building site. They resolved to build 18 units, each about 2,500 square feet, with three bedrooms.

DiPinto, who has a long career in both development and real estate, said that three bedroom condominiums are the sweet spot in the luxury market and will allow owners to have both an office as well as a room for guests, children or grandchildren.

The design of the project was created by Mark Sultana, cofounder of DSDG Architects, which recently designed the Sarasota Yacht Club and worked to create what the development team calls, “coastal contemporary construction.”

There is a noticeable absence of Tuscan and Mediterranean themes, and instead large walls with glass allow light, yet a significant amount of wood details inside and outside of the project infuse warmth and avoid an ultramodern feel.

To date about half of the units have been sold, and Gilbane Building Company, which is providing construction management, said that the project will be ready to occupy by mid-December 2015.

DiPinto takes particular pride in both the high standards including deep pile foundation system, solid concrete and quality structural components. He said it is being built to the same standards as a Gulf front building and is situated next to South Lido Park and a kayak launch directly between the Gulf and Bay.

DiPinto said all of the owners are end-users and it fulfills his goal of creating a community of owners who have decided they want to make Park Residences their home. Another factor that is important is allowing pets and keeping the price point starting at about $550 per square foot.

DiPinto is offering complete customization from flooring to fixtures, to wall textures and trim.

Park Residences will be located at 129 Taft Drive on Lido Key and anyone interested can drive by to see the development underway.

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