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Tearing Down, Building Up

Monday, June 20, 2016   /   by Extreme Home Selling Team

Tearing Down, Building Up

Ringling Towers / El VernonaSarasota is a City experiencing tremendous upheaval in the Residential Market in many ways. Not only do we have the Official County Bird gracing our skyline in several directions (Cranus Erectus) in the Downtown Core, but the I-75 Corridor is hot, Hot, HOT!

The old(er) and original buildings that have occupied sites, some for as much as a hundred years now, are literally scraped from the land and wiped from memory within days of a For Sale Sign going up and being replaced by a Contractor's Sign and fence! Most of the time, this is a VERY good situation as many of these homes have fallen into disrepair and simply cannot be brought to code and safe, modern habitation without being completely stripped to the studs. But in some instances, Sarasota loses some very significant buildings when people are unable to rally and fund raise to save the structure.

Ringling Towers aka El Vernona Hotel was razed in 1998 after a long drawn out EPIC battle to save it. Eventually, the Ritz Carlton Sarasota was built on the property extending from US 41 on the east to Sarasota Bay on the west, with the accompanying Ritz Carlton Apartments on the South side. The building had been added to the U.S. National Register of Historic Places on March 5, 1987 which did not protect it. The DeMarcay Hotel on South Palm Avenue is being converted to Residential Condos and after an outcry from the Community, the Developers are retaining the 2 Story Facade. Again, this structure was added to the U.S. National Register of Historic Places on March 22, 1984.

Gillespie Park 169 vs 2013 Built     Gillespie Park 1950 vs 2009   2009 Built     Gillespie Park under Construction

Old Versus New and Under Construction.....

Vinik TeardownOne of the most arresting demolitions occurred in 2013/2014 on St. Armand's when Tampa Bay Lightning Owner Jeff and Penny Vinik purchased TWO high dollar homes on the water totalling $7,750,000 only to tear them down so they could build a 15,000sf estate which is still under construction today. Many people argue the point "in with the New, Out with the Old" but #112 was a 2 story 4 bed 5 bath 3 plus garage with elevator, pool, dock & boat lift, custom designed & built mansion! #132 was half the size the size in square feet but on nearly an acre of waterfront property. These were not shanties, but 7 figure homes. However, Mr. & Mrs. Vinik have a strong Vision, a superb Team and most definitely the generous Budget to realize their Goal of creating exactly what they desire.

On the other side of the coin, Builders & Developers who appreciate Old Florida homes will offer the Bungalows and Cottages for FREE to people who can remove the building and place it on their own lot usually for a cost of between $15,000 to $40,000 depending on distance traveled, size of home and complexity of the journey. This does not include the purchase price of the lot, however! A great example of moving Old Florida Bungalows to a new home is the Downtown Village Shops created by a local Realtor/Attorney couple. Small Businesses have moved in and developed a Creative, Funky Urban Vibe that is promoted on the Fourth Friday of each Month!

Downtown Village SarasotaIf you have a property that may be regarded as a tear-down, don't be low-balled, leaving money on the closing table! We can market it to the RIGHT Buyer in the RIGHT situation to get the MOST Money delivered to YOU!

We ARE the Extreme Home Selling Team!

ROBERT “CHIP” DEACON, Broker-Associate
941-584-8400, 9000
Jeff Kaplan, Customer Care Team
Shari Shepard, Team Admin

   Shari Shepard
Adding a Little Sharisma to Your Life!

Andrew Scherer
1549 Ringling Blvd. Suite 600
Sarasota, FL 34236
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