Builder plans another Sarasota high-rise

SARASOTA — The boom in condominium development in downtown Sarasota continues this month with the announcement of a new high-rise building: The Grande at the Ritz-Carlton Residences.

West Palm Beach-based developer Kolter plans to break ground on the 18-story luxury tower next to the Ritz-Carlton, Sarasota, next spring, according to the Sarasota Observer, sister paper of the Business Observer. Michael Saunders & Co. will oversee sales of the units, which start at $2 million.

Kolter is also behind Vue Sarasota Bay, the towering hotel and condo project under construction at the intersection of North Tamiami Trail and Gulfstream Avenue. Kolter also bought two properties on State Street for $5.5 million in anticipation of the Mark, an 11-story, 157-condo mixed-use building that includes an additional 50,000 square feet of commercial space.