TownePlace Suites property planned for Sarasota

George Sell By George Sell
1 week ago | Updated 1 week ago

US: A 117-key TownePlace Suites by Marriott hotel is planned for a site in Sarasota, Florida.

The 2.5 acre plot is directly east of I-75 and north of Fruitville Road

According to commercial building permit applications filed with Sarasota County this week, the four-storey extended stay hotel will have 137-parking space and will be built on a plot owned by SD Fruitville Commons LLC, an affiliate of Naples-based real estate company Stock Development. Applications are under review by the county.

The site is part of the county's Fruitville Initiative, a "critical area plan" adopted in 2014 intended to encourage economic development on about 420 acres along both sides of Fruitville Road east of the interstate. The area is zoned as mixed-use. The Stock-owned parcel is just under 41 acres, according to the Sarasota County property appraiser.

Stock purchased the site from the Walters Family Trust in 2018 for $10 million, according to county records.

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