Sarasota Quay Update

It may be that the famous Sarasota Quay property, an important 14 acre site next to the Ritz Carlton in Sarasota, is in limbo. Recently, the city was petitioned for an extension to the original site plan and permits. The potential buyer is seeking a 20 year extension to the original permit. Most often, a company intending to break ground on a project will move forward at a high rate of speed with minor edits to already approved site plans. It may be that the Jacksonville based Greenpointe Holdings, LLC real move may be to resell the property to another developer for a profit. Nothing wrong with profit motive, but I'm guessing that we won't see cranes for a few more years.
Robert Nelson
Lux Realty Sarasota