It Takes a Village

Marlene and Alex Lancaster redefine the phrase patient money.

In fact, the Lancasters' commercial real estate oasis, on one of the busiest sections of one of the busiest roads in Sarasota County, actually got its start back in 1985. That's when the Lancasters bought their first cottage in what's now called Gillespie Village.

That purchase multiplied to others, to the point where the couple has spent several million dollars on 16 properties that line Fruitville Road, parallel to Main Street in downtown Sarasota. The village, an eccentric combination of restaurants, offices and stores, is now two cottages away from being 100% rented — a considerable achievement in a slumping market. One of the two remaining cottages, moreover, has a lease pending.

Gillespie Village has nonetheless been a long work in progress. The Lancasters and other property owners leased the cottages for residential use for many years. While that was profitable, upkeep was a constant hassle. Says Lancaster: “You would paint them, and they would look ratty immediately.”

So in 2010, recession be damned, the Lancasters decided to go for what was their original long-term vision. “We always knew there was a possibility of commercial use here,” says Marlene Lancaster, a Realtor and urban planner who once worked for the city of Sarasota and Sarasota County. Alex Lancaster is a Sarasota-based attorney.

A looming challenge the Lancasters faced in building up Gillespie Village was something many other Gulf Coast developers battle: multiple regulations. The first step was to go through a long residential-to-commercial rezoning process, though Marlene Lancaster says city officials understood the project and were helpful.

Other issues were more building specific. For starters, most of the doors on the cottages, built in the 1920s and 1930s, had knobs, not handles. That doesn't comply with modern-day city and handicap accessible codes, so all the knobs were replaced. Fire extinguishers and bathrooms also needed upgrades.

While the renovations were going on, the Lancasters grappled with another challenge in carrying costs. They paid thousands of dollars in taxes on vacant buildings for several years. “It's expensive to hold on to downtown properties,” says Lancaster.

Another crucial step in the formation of the village was the tenant mix. The Lancasters are diligent about maintaining diversity and not allowing tenants to duplicate services. All the cottages are painted a different vibrant color, though fences and uniform landscaping connect the village.

The Lancasters, finally, sought forward-thinking entrepreneurs willing to lease space on a strip with little other commercial activity. They found their first match in Wendylee Goldberg, who opened The Breakfast House in 2010.

Goldberg was the first in a parade. Other tenants now include a personal fitness gym; a Peruvian restaurant; a crafts store; a bankruptcy law office; and an interior design studio. Another tenant will be temporary: An election campaign office for President Barack Obama.

Lancaster says while the process to grow Gillespie Village has been lengthy, it has also been worthwhile because it combines two of her passions: entrepreneurialism and architectural history. “The goal is to make everyone here as successful as possible,” Lancaster says. “We really hope we are doing our part for our community.”