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County clears revisions to 2501 MLK affordable housing project; developer to phase 370 affordable units and reserve commercial space for grocery and pharmacy
Summary
The Sarasota County Commission voted unanimously April 8 to approve amendments to the purchase and land-use restriction agreements for the redevelopment of 2501 Dr. Martin Luther King Jr. Way, clearing the way for a development that will include 370 affordable housing units and a commercial parcel with a grocery and pharmacy.
Sarasota County commissioners on April 8 approved a package of amendments to the sale and land-use restrictions for the 2501 Dr. Martin Luther King Jr. Way redevelopment, a project that will include 370 affordable housing units and a commercial component with a grocery and pharmacy.
What the board approved The board took the third amendment to the purchase-and-sale agreement (commercial acreage reduced from 4.5 to about 3 acres) and first amendments to two LURAs (one for the affordable housing component and one for the commercial component). The motions were taken together and passed unanimously.
Project structure and developer explanation Matt Osterhaus, director of Planning and Development Services, summarized the transaction’s background: the county declared the…
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