Naples developer cites affordable housing law for luxury Sarasota project

A Naples developer planning what’s marketed as a luxury condominium project on recently purchased property on Ringling Boulevard looks to be using a law created to spur affordable housing to win approval for the project.

The Lutgert Cos., in a letter from a consultant submitted with documents to city officials for a pre-application conference, says it is designating 67 rental units in the project as “attainable” to meet Live Local Act requirements.

The development is planned for about 2.4 acres Lutgert bought through an LLC that includes The U.S. Garage building at 330 S. Pineapple Ave. and a parking lot belonging to the Church of the Redeemer.

According to Sarasota County property records, Lutgert paid $11 million for the U.S. Garage property at 330 S. Pineapple Ave. and $15 million for the church-owned parking lots at 301 and 303 S. Palm Ave. and 1360 Ringling Blvd.

The Florida Legislature approved the Live Local Act in 2023 as a way to make it easier for projects to clear regulatory hurdles and to eliminate roadblocks put up by neighbors who opposed affordable projects with higher density near their homes.

It mandates that local governments authorize multifamily developments on properties zoned as mixed-use residential, commercial or industrial if at least 40% of the units are set aside as affordable for people making up to 120% of the local area median income.

In the letter to the city's auditor and clerk, the consultant writes the properties are zoned Downtown Core.

The letter goes on to say the development will be made up of two buildings with a connecting podium. The western building will be 18 stories and be made up of 100 condominiums. The eastern tower will be 9 stories facing Pineapple Avenue and have 67 rental units.

“The attainable units required by the Live Local Act will be located in the eastern building,” writes Joel Freedman of Freedman Consulting & Development LLC.

In addition to the residential portion of the project, there are plans for 18,584 square feet of commercial and retail space. And, according to Freedman’s letter, the lower level of the podium connecting the two buildings will include parking.

For now, there are no public signs saying rental apartments are coming to the property.

The only signage on the site is for Adagio Sarasota Luxury Residences and includes a QR code and the tagline, “The show is about to begin.”

A website for the project repeats the tagline and adds: “Downtown Sarasota luxury is building up to a new crescendo.”

The development team also includes the Barron Collier Cos. and R&P Holdings.

Lutgert has not responded to a request for comment.