How does a hotel that hasn’t been built yet pay dividends to the region nearly two years before welcoming its first paying guests? Virginia Haley, president of Visit Sarasota—the county’s lead tourism bureau—knows the answer. Moments before joining other civic leaders at last week’s groundbreaking for the new Westin Sarasota Hotel, Haley shared her agency’s knowledge of the hotel’s pre-construction influence on the local economy. "This property has already had a significant impact on tourism in Sarasota,” she declared from the speaker’s podium. “And we haven't even broken ground yet!" Ms. Haley was referring to the amount of tourism and convention business that Visit Sarasota has already pre-booked predicated on the July 2016 opening of the new hotel. A similar scenario has unfolded at the new Mall at University Town Center, the new Nathan Benderson Park, and more than a half dozen other hotels and luxury condominiums that are in some stage of development throughout Southwest Florida. Even before their foundations are poured, it seems, their anticipated arrivals are sparking something of an economic bonanza for the region. Among the most noteworthy is VUE Sarasota Bay, by far the largest new luxury condominium poised for Sarasota’s bayfront in several years. With a design that provides each residence with a large south-facing terrace and dramatic glassed-in views of the bay—and beyond—VUE Sarasota Bay has struck an unusually positive chord with buyers wanting to live at the core of a city prized for its range of cultural offerings. Nearly a third of its 141 residences have been placed under contract since VUE Sarasota Bay came on the market a few months ago. Ground was broken for VUE Sarasota Bay at the same ceremony as for the Westin Sarasota, its companion structure at the site. More than a year from completion, these two projects alone are responsible for an explosion of new jobs related to the region’s construction, hospitality and tourism industries. Moreover the future occupants of these structures are expected to inject a significant burst of new economic activity into downtown Sarasota’s retail, culinary and cultural scenes. Meanwhile, the much-anticipated Mall at University Town Center—one of only two enclosed malls slated to open in the U.S. this year—is just days away from its grand opening. Laden with scores of luxury-branded retailers confidently making their first foray into Florida’s West Coast, the new mall is fast re-making Sarasota’s retail scene from a largely local affair into a regional hub for out-of-town shoppers. According to the Sarasota Herald-Tribune, the mall is expected to attract 1.2 million shoppers each year from the I-75 corridor linking Tampa and St. Petersburg with Fort Myers and Naples. Once here, their curiosity about the region is likely to spread their discretionary spending into downtown Sarasota, St. Armands Circle; and to the beaches of Sarasota and Manatee Counties. Even though it too remains under construction, the new Nathan Benderson Park is also pre-performing brilliantly for the region’s economy. Based on progress to date, this spectacular new park—which is adjacent to the new mall—has revealed itself to be one of the best competitive rowing venues in the world. As such, officials of the sport have already awarded prestigious collegiate, state, national and international competitions—including the 2017 World Rowing Championship—to Sarasota. These events will draw tens of thousands of spectators, rowers, coaches and trainers to Southwest Florida each year; and new hotels are being built near the site to accommodate them. The confidence, planning and expense needed to move such visionary projects from ideas to fruition speak volumes about the ever-increasing desirability of our already desirable market. Far from being just another seasonal haven in which visitors can escape the cold and snow, Southwest Florida has become a year-round destination in which newcomers can follow activity-packed days with culture-filled nights.Build It and They Will Come
- By Michael Saunders
- Posted
How does a hotel that hasn’t been built yet pay dividends to the region nearly two years before welcoming its first paying guests? Virginia Haley, president of Visit Sarasota—the county’s lead tourism bureau—knows the answer. Moments before joining other civic leaders at last week’s groundbreaking for the new Westin Sarasota Hotel, Haley shared her agency’s knowledge of the hotel’s pre-construction influence on the local economy. "This property has already had a significant impact on tourism in Sarasota,” she declared from the speaker’s podium. “And we haven't even broken ground yet!" Ms. Haley was referring to the amount of tourism and convention business that Visit Sarasota has already pre-booked predicated on the July 2016 opening of the new hotel. A similar scenario has unfolded at the new Mall at University Town Center, the new Nathan Benderson Park, and more than a half dozen other hotels and luxury condominiums that are in some stage of development throughout Southwest Florida. Even before their foundations are poured, it seems, their anticipated arrivals are sparking something of an economic bonanza for the region. Among the most noteworthy is VUE Sarasota Bay, by far the largest new luxury condominium poised for Sarasota’s bayfront in several years. With a design that provides each residence with a large south-facing terrace and dramatic glassed-in views of the bay—and beyond—VUE Sarasota Bay has struck an unusually positive chord with buyers wanting to live at the core of a city prized for its range of cultural offerings. Nearly a third of its 141 residences have been placed under contract since VUE Sarasota Bay came on the market a few months ago. Ground was broken for VUE Sarasota Bay at the same ceremony as for the Westin Sarasota, its companion structure at the site. More than a year from completion, these two projects alone are responsible for an explosion of new jobs related to the region’s construction, hospitality and tourism industries. Moreover the future occupants of these structures are expected to inject a significant burst of new economic activity into downtown Sarasota’s retail, culinary and cultural scenes. Meanwhile, the much-anticipated Mall at University Town Center—one of only two enclosed malls slated to open in the U.S. this year—is just days away from its grand opening. Laden with scores of luxury-branded retailers confidently making their first foray into Florida’s West Coast, the new mall is fast re-making Sarasota’s retail scene from a largely local affair into a regional hub for out-of-town shoppers. According to the Sarasota Herald-Tribune, the mall is expected to attract 1.2 million shoppers each year from the I-75 corridor linking Tampa and St. Petersburg with Fort Myers and Naples. Once here, their curiosity about the region is likely to spread their discretionary spending into downtown Sarasota, St. Armands Circle; and to the beaches of Sarasota and Manatee Counties. Even though it too remains under construction, the new Nathan Benderson Park is also pre-performing brilliantly for the region’s economy. Based on progress to date, this spectacular new park—which is adjacent to the new mall—has revealed itself to be one of the best competitive rowing venues in the world. As such, officials of the sport have already awarded prestigious collegiate, state, national and international competitions—including the 2017 World Rowing Championship—to Sarasota. These events will draw tens of thousands of spectators, rowers, coaches and trainers to Southwest Florida each year; and new hotels are being built near the site to accommodate them. The confidence, planning and expense needed to move such visionary projects from ideas to fruition speak volumes about the ever-increasing desirability of our already desirable market. Far from being just another seasonal haven in which visitors can escape the cold and snow, Southwest Florida has become a year-round destination in which newcomers can follow activity-packed days with culture-filled nights.
