An Indianapolis-based developer recently secured financing to build a 231-unit apartment complex north of Sarasota Bradenton International Airport, near the Amazon Logistics Center on Tallevast Road.
In its March 12 statement, Milhaus – which also has a satellite office in St. Petersburg – announced both the acquisition of the 10.6-acre site at 2750 Tallevast Road and financing through BMO Financial Group and Marble Capital.
“This project represents a strategic opportunity to address the Class A housing shortage in one of the Sarasota-Manatee region’s most promising growth corridors,” Brad Vogelsmeier, vice president of development at Milhaus, said in the statement.
“By collaborating with an industry-leading financial institution, BMO, Marble Capital equity partners and FaverGray contractors, we position ourselves to reshape how people define home in one of the fastest-growing regions in America,” Vogelsmeier added.
Jacksonville Beach-based contractor FaverGray is anticipated to start construction this month. The construction is targeted for completion in November 2027 while leasing would begin in summer 2027.
The complex would be east of U.S. 301, on the southeast corner of Tallevast Road and 27th Street East.
The area is in Manatee County with a Sarasota address.
What will the Sarasota apartment complex be like?
Milhaus envisions the 231 units split among five three-story garden apartment buildings.
Studio apartments, as well as one-, two-, and three-bedroom units, will be offered, ranging in size from 617 to 1,357 square feet.
The units will feature quartz countertops, stainless steel appliances and in-unit washers and dryers.
The overall community will include a resort-style swimming pool, pickleball courts, a fitness center with a dedicated yoga space, co-working spaces, a resident clubhouse and a pet spa.
About 400 parking spaces are planned as are on-site EV charging stations.
The anticipated rent cost was not listed.
Provisions in Florida’s Live Local Act allow, among other things, the location of developments such as this to be built on land not typically zoned for residential use, providing that at least 40% of the homes are affordable for people making up to 120% of the area median income for 30 years.
It would be less than a mile east of the Amazon Logistics Center.
The Milhaus release noted that the development would be within five minutes of Sarasota-Bradenton International Airport, where a Wahlburgers restaurant recently opened, and about 12 minutes from downtown Sarasota and its performing arts venues and dining destinations.
Who is Milhaus?
A vertically integrated multifamily developer based in Indianapolis, Milhaus has developed and managed several properties in Florida including Canopy at Babcock Ranch near Punta Gorda.
As of March 2026, Milhaus has more than 9,200 units across 30 properties, valued at $2.3 billion in assets. For more information, visit https://www.milhaus.com.
BMO Financial Group is the eighth-largest commercial bank in the U.S., with more than $1.5 trillion in total assets. For more information visit https://www.bmo.com.
BMO Financial Group is based in Montreal, Canada, with a U.S. subsidiary in Chicago.
Marble Capital, based in Houston, Texas, manages $3.3 billion across a series of private equity funds. For more information, visit marblecapitallp.com.
Earle Kimel primarily covers south Sarasota County as well as land development and environmental issues for the Herald-Tribune. Follow him on Facebook, and X. He can be reached by email at earle.kimel@heraldtribune.com. Support local journalism by subscribing.
This article originally appeared on Sarasota Herald-Tribune: 231-unit apartment complex planned for Sarasota growth corridor
Reporting by Earle Kimel, Sarasota Herald-Tribune / Sarasota Herald-Tribune
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