New towers rising along downtown Sarasota’s waterfront reflect a growing residential trend as luxury developments continue to attract buyers.
One Park Sarasota, located in The Quay Waterfront District in downtown Sarasota, is an 18-story residential development with a planned completion date around March 2027. The 86-unit building recently completed vertical construction, preparing to offer yet another luxury residential option and “establishing the bayfront as a noteworthy residential destination," according to a news release.
The high-rise residential tower is set to add to downtown Sarasota’s growing market for luxury residential development, with a select number of townhomes on the bottom two levels of the property and penthouse residences
on the top floor, in addition to the traditional condominium units.
Kim Githler, chair and CEO of MoneyShow, the financial education company involved with the project, said that the completion of the vertical construction marked a “defining moment” for the city and prospective owners.
“A new era of residential living is emerging in Sarasota, hallmarked by fabulous amenities and exceptional design at a remarkable bayfront setting," Githler said. "We could not be more excited for residents to see their new home take its place on the Downtown Sarasota skyline.”
One Park Sarasota will offer fully furnished, three-bedroom private residences, according to marketing materials. The units will feature interior spaces with Italian kitchen and bathroom cabinetry, with porcelain, marble or wood flooring throughout. The residences are being designed by Sarasota-based firm Hoyt Architects.
Additional features of the property include outdoor terraces with glass railings, 12-foot ceilings and expansive floor-to-ceiling windows. One Park Sarasota will also have 40,000 square feet of resort-style amenities, according to a news release. Highlights include an infinity pool, spa deck, fitness studios, a club room, concierge services and other amenities.
The project is being managed by Property Markets Group, with sales headed by Coldwell Banker Realty. Pricing for the remaining available units starts at around $2.7 million. The firm has a multibillion-dollar portfolio with more than 16 million square feet of development, totaling more than 8,500 residential units, according to company officials.
Dan Kaplan, managing partner at PMG, previously told the Herald-Tribune that residences at One Park were going for about $1,450 a square foot, with the most expensive penthouses, marketed as “the highest residences in Sarasota,” priced at $12 million.
Company officials said that 75% of the building’s 86 units had been purchased or were being financed but did not provide the exact number still available.
“From the outset, our goal has been to thoughtfully contribute to the city’s evolving landscape, with a focus on design, livability and connection to the surrounding community. As we move closer to welcoming residents, we remain committed to delivering homes that reimagine the standard of living along Florida’s Gulf Coast,” Kaplan said in a prepared statement.
Juneau Construction Company is the general contractor for One Park Sarasota. With the topping off completed, the project is slated to receive permanent power installation and achieve the dry-in stage of construction in the coming months.
A skyline of luxury condos in downtown Sarasota
The One Park Sarasota vertical construction completion comes as downtown Sarasota has become fertile ground for luxury residential towers populating the skyline.
As previously reported by the Herald-Tribune, The Waldorf Astoria Residences Sarasota, an 84-unit, ultra-luxury condominium complex, is set to come to the Five Points area downtown.
Similarly, the Ritz-Carlton Residences, a 20-story, 78-unit condominium building, is also going up in the waterfront area of The Quay. The Quay, a 14-acre waterfront campus just south of Sarasota’s Bay Park, includes numerous developments as well as the Ocean Prime restaurant.
The spike in luxury development comes as sales on high-end properties in the state rose in July, according to a statewide analysis. Sales involving million-dollar condominiums and townhomes increased by 31% compared with July 2025. The increase marked the second-lowest annual gain so far this year, according to the analysis, though the luxury segment has remained strong throughout 2026.
A recent report from Florida Realtors showed that condominium and townhome sales, across the board, rose in July, up 11.0% from a year ago. In Sarasota County, specifically, closed sales on condos and townhouses increased by 33.1% year-over-year, while the average sale price rose 62.7% to $610,513.
Kendal Asbury is the real estate and development reporter for the Sarasota Herald-Tribune. Have an idea, tip or question about development? Send her an email at kasbury@usatodayco.com. Connect with her on LinkedIn or follow her on Instagram @wordsbykendal, and support local journalism by subscribing to the Herald-Tribune.
This article originally appeared on Sarasota Herald-Tribune: New Sarasota waterfront tower offers $12 million penthouses
