Kauffman planning Payne Park Plaza for 2014

Sarasota entrepreneur Dr. Mark Kauffman is moving forward with plans to develop a nearly half-acre vacant parcel at 242 Washington Blvd., Sarasota. Currently home to the Suncoast Food Truck Picnic, Kauffman is proposing construction of two connected buildings facing Washington Boulevard with a total of 8,295 square feet. The project is being called Payne Park Plaza.

Capstan Financial Consulting Group would occupy the vast majority, about 6,083 square feet, of the building space. The remaining 2,228 square feet would be leased out.

“This would solve our space needs,” says Matt DePalma, managing partner of Capstan. “We've wanted to stay in downtown. We are 90% of the way to making it official.”

Capstan currently occupies the ground floor of the Landmark Bank building, where it has grown over 3.5 years from eight people to 15. DePalma say the current facility was designed to accommodate around 13 people. The company is also in talks to bring on another four people.

Barring delays in the city approvals, construction should start around July. Constructing the project is estimated to cost $1.1 million.

Capstan expects to occupy its portion of the property by early 2015 at the latest.