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News & Notes

Clearwater company pays $7M for Venice, Bradenton senior living centers

In the week's top commercial real estate news, Tampa and Sarasota lay out affordable housing programs, and a Sanibel resort is being rebuilt.


  • By Louis Llovio
  • | 5:00 a.m. March 31, 2024
  • | 0 Free Articles Remaining!
Summerfield Senior Living in Bradenton was sold to Clearwater investment firm TJM Properties.
Summerfield Senior Living in Bradenton was sold to Clearwater investment firm TJM Properties.
Image via SummerfieldSeniorLiving.com
  • Florida
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Naples/Fort Myers/Charlotte

Up from the ashes: Construction has officially kicked off at the Shalimar Beach Resort — nearly 18 months after it was destroyed during Hurricane Ian. A ceremonial groundbreaking was held in Sanibel last week to mark the new project. The rebuilt resort will include a 27,334-square-foot, two-story building with 21 one-bedroom units as well as a 6,032- square-foot, two-story fourplex building with two one-bedroom units; two two-bedroom units; and four duplexes with one-bedroom cottages. Each building will be built over covered parking, says Fort Myers-based Stevens Construction, which is building the resort. In all, there will be 33 units as well as a lobby and a manger’s suite. It will be a total of 52,207 square feet. The Shalimar first opened in 1959. In an October 2022 Facebook post, the property’s owners described what happened when Ian hit, writing that “our entire property has been swept away in the storm surge, with most of our buildings coming to rest in heaps on West Gulf Drive and in streets beyond.” It promised at the time to rebuild old-Florida style cottages on the property rather than condos. “Just much stronger and better, of course!”

 


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author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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