One Park West Will Bring 69 New Condos to the Sarasota Bayfront

As Featured in Sarasota Magazine

When we first wrote about it in 2021, One Park, at the Quay, was poised to rise 18 stories on a 1.6-acre parcel on the corner of Boulevard of the Arts and North Tamiami Trail. Part of a 14-and-a-half-acre bayfront revamp, plans originally included building over a bisecting street, called Quay Commons, and creating a 77-foot wide, 22-foot tall breezeway that would join two buildings in the development. National real estate firm Property Markets Group and Sarasota-based MoneyShow first proposed the project in December 2021. The name references the 53-acre city park being developed by The Bay Park Conservancy on Sarasota Bay.

But 12th Judicial Circuit Court Judge Hunter Carroll squashed the original plan in October last year, and the development team, national real estate firm Property Markets Group (PMG) and Sarasota-based MoneyShow, quickly pivoted. Now the roughly $500 million project is offering two distinct towers: One Park and One Park West, each with its own lobby, amenities and unit price points.

“The quality will be the same, with best-in-class amenities and finishes,” says Dan Kaplan, managing partner of PMG, one of the developers. The biggest difference, he says, is that One Park will have unobstructed views over the park and towards Sarasota Bay and units will be larger. “One Park West will be among the lowest price points for living in the Quay area, and the views will be of downtown, with smaller apartments,” he says.

One Park West’s 69 units will start at roughly $1 million, and other than the penthouses, will remain below $3 million each. “If you look at phase two of the Ritz-Carlton Residences nearby, this [price point] is significantly less than that,” says Kaplan. At the Ritz-Carlton Residences, prices start at $3.5 million.

PMG closed on blocks 1 and 9, acquiring the property from Quay Venture, for $37 million last year. Block 1 is home to One Park and block 9 is home to One Park West.

“We’re trying to fill a void where the competition isn’t,” Kaplan says. “We wanted to identify a buying pool that was underserved. People want the Quay lifestyle and some people value that versus square footage.”

One Park unit prices start at $3 million, and a penthouse is listed at just over $12 million, the priciest unit. It’s already under contract; and roughly 40 percent have sold.

Buyers and interest come from local and remote working entrepreneurs, some retirees and empty-nesters who are downsizing, and out-of-state movers from beyond the traditional midwest feeder markets, like California and New York.

While the project’s initial plans have pivoted, the goal is to break ground in October on both One Park and One Park West. “One Park is further ahead, but we are working overtime with the architect to catch up [on One Park West],” Kaplan says. Completion is expected by the end of 2026. A final sign-off with the City of Sarasota’s development review committee for One Park West is scheduled for tomorrow, Wednesday, June 12. In the meantime, the project’s acreage is being used for parking and staging for other Quay developments.

One Park West, composed of 69 units, will have one, two, and three-bedroom residences, as well as a penthouse collection, spanning 1,033 square feet to 3,399 square feet. Units will have 10-foot ceilings and floor-to-ceiling windows with views of the downtown skyline, the Quay, the entertainment district, and Sarasota Bay, with outdoor terraces with glass railings.

Amenities include a rooftop lounge, fitness studio, pickleball court, hot and cold plunge bath, infinity-edge pool with lounge areas and grilling stations, lockers, saunas, steam rooms, owner’s lounge, theater room, executive workspace, and a dog run. A concierge staff includes valet parking and a mail room.

To compare, One Park will have 86 units, with three to five-bedroom residences, a townhouse collection, and a penthouse collection, ranging from 2,569 to 5,327 square feet. Amenities include an infinity-edge pool and spa deck with lounge areas, a Hammam Spa, lockers, saunas, and steam rooms, a dog run, a fitness studio pilates, a yoga studio, cycling rooms, a club room and owner’s lounge, a hospitality suite, wine room, private theater, and golf simulator. Concierge services include valet parking, package delivery, and dog walking.

Among the opposition to the original architectural plans for the breezeway, the project was delayed last year due to an investigation into potential improper influence at City Hall related to the development. The Florida Department of Law Enforcement concluded the investigation without filing any charges.

For more information on One Park West, click here or call 941-201-1325 .