The Allen Morris Company, and its partner, the Alaska Permanent Fund Corporation, advised by L&B Realty Advisors, has broken ground on Bayside Sarasota, a luxury rental community complete with a Michelin Bib Gourmand restaurant. The groundbreaking follows the closing of an $83 million construction loan and commenced construction on its signature Bayside Sarasota development. The loan was provided by Kennedy Wilson. Longboat Group will oversee leasing and management once complete.

Located in Sarasota, Florida, one of the State’s fastest growing areas, Bayside Sarasota is the initial phase of a broader mixed-use project in the Rosemary District, one block off of Sarasota Bay. This phase includes a 253-unit luxury rental community, along with 2,000 square feet of ground floor retail, and a future 96-unit tower with bay views that will commence later in the year.

The Allen Morris Company commenced construction on the project, with an anticipated completion date of Fall 2026. Brasfield & Gorrie is the General Contractor.

The resort-inspired community features a mix of one, two and three-bedroom residences with open floor plans, chef-inspired kitchens, and contemporary finishes, both within the units and the building itself.

The Dwell-designed building features 50,000 square feet of private amenities including a rooftop pool deck, Michelin recognized restaurant located in the lobby, state-of-the-art fitness center with a covered yoga terrace, 24-hour concierge, and is pet friendly. The private courtyard will feature a 60-foot tall native ficus tree and outdoor private dining for residents. It is a true coastal community, adjacent to Sarasota’s waterfront and designed with both indoor and outdoor amenities to take advantage of its location. FlickMars, a luxury hospitality firm, is the interior designer.

The development’s idyllic location within the City’s Rosemary District, known for its artisan cafes, antique shops and art galleries adds to the community’s already-strong appeal. Bayside Sarasota sits one block away from the city’s $200 million The Bay Park Redevelopment project which has completed its first phase and will commence on the second phase this year. The project includes the redesign of the waterfront park and performing arts center. The City’s Bay Park Redevelopment project, which includes a recreational pier and enhanced waterfront access, among other amenities, makes Bayside Sarasota one of Florida’s most desirable residential communities.

“We’re excited to partner with APFC on another best-in-class residential asset. With Bayside Sarasota, we will deliver an unparalleled residential experience with a resort-style rooftop pool, a Michelin recognized restaurant and thoughtfully appointed condo-quality residences,” says Spencer Morris, President of The Allen Morris Company.

“We are thrilled to expand our long-standing relationship with The Allen Morris Company as well as build new ones with APFC and Longboat. This dynamic location is well positioned to benefit from the positive growth and improvement happening across Downtown Sarasota and we are excited to play a role in the continued progress of Sarasota” adds Kennedy Wilson Debt Investment Group head, Thomas Whitsell.

The Allen Morris Company’s developments provide residents with the opportunity to indulge in modern living spaces in proximity to unique and evolving locations, such as Sarasota’s Bayside. The company has active developments throughout Florida and Georgia.