Downtown Sarasota's luxury condominium market is getting a new tower built around short-term rental freedom. Saravela, a new development rising on North Tamiami Trail just blocks from Sarasota Bay, will introduce 282 fully furnished residences alongside 11 two-story townhomes, all set to open through a professionally managed rental program.
At Saravela, ownership extends well beyond the residence itself. More than 47,000 square feet of indoor and outdoor amenities unfold across six dedicated levels, anchored by two rooftop pools overlooking Sarasota Bay, an array of spa and wellness experiences, rooftop firepits, and elevated club lounges built for after-work cocktails.
Fitness studios, yoga rooms, saunas, hot and cold plunge pools, a golf simulator, putting green, bocce court, attended Kids' Club with duckpin bowling, game lounges, co-working spaces, and pet amenities round out the program. Concierge services, valet, optional housekeeping, grocery delivery, and 24-hour security keep daily life seamless — and through Saravela's partnership with Heritage Golf, ownership extends beyond the building with a complimentary one-year preview sports membership at TPC Prestancia.
The development is being delivered by Chicago-based GSP Development, with architecture by Tampa-based Kimmich Smith Architecture and interiors by ID & Design International. Inside each turnkey residence, 12-foot ceilings, floor-to-ceiling glass, expansive terraces, Italian cabinetry, and furnishings curated by designer Steven G. create a layered, modern coastal aesthetic. Residences are offered from the $900,000s, ranging up through 19th-floor penthouses overlooking Sarasota Bay.
Saravela's 1.7-acre site straddles two of Sarasota's zoning districts, with the building rising 19 stories on the Downtown Bayfront side and stepping down to 11 stories in the Downtown Core. The development sits within walking distance of The Quay and Sarasota's Bay Park, putting waterfront dining, galleries, marinas, performing arts venues, and St. Armands Circle's shops and beaches all within easy reach. More than 11,000 square feet of ground-floor retail is planned to bring restaurants, cafés, and shops directly to the block.
A limited-time buyer program from GSP Development sweetens the offering: those who reserve a residence and execute a contract receive payments equal to six percent of the contractual purchase price annually for two years, with HOA fees and property taxes covered by the developer over the same period. United Landmark Associates is leading marketing, with sales handled by Premier Sotheby's International Realty and delivery expected in 2029.
Saravela arrives at a moment when Sarasota's luxury condo market is reaching toward something more flexible — and a new condominium that offers both ownership and short stays gives the city's evolving downtown a sharper edge.
Learn more at: https://saravela.com/