The towering transformation of a Sarasota landmark — which housed myriad local residences as well as popular restaurants and shops in its historic two- to three-story design — is poised to begin, remaking a downtown icon with more than a century of history.
Construction of the Mira Mar Residences — a collection of 70 estate-style bayfront condominiums spread across a pair of 18-story towers overlooking the Palm Avenue shopping and dining district — should start any day, now that the city of Sarasota has issued a building permit.
The first task will be to shore up the foundation of the century-old Mira Mar apartment complex, Matthew Leake, president of Sarasota-based Seaward Development, told the Herald-Tribune.
That original complex, which also housed numerous businesses before they began leaving in recent months ahead of construction, was built in 1922 by developer Andrew McAnish in 60 days and was later followed by the Mira Mar Hotel and Mira Mar Auditorium.
The auditorium was demolished in 1955 and the hotel in 1982.
Leake noted that the apartments were built on sand without a proper foundation, so the first aspect of the rehabilitation will be to add deep piles with concrete foundations underneath the structure.
“A lot of the work that we’ll be doing over the first months is stabilization work,” he added. “They built the whole building in 60 days and it’s going to take us more than 60 days to stabilize the foundations.”
Sarasota developer now embraces Mira Mar’s history
Though Seaward in 2022 sought to demolish the apartment structure — that proposal was blocked by the city’s Historic Preservation Board — it has since embraced the concept of historic renovation.
The proposal to restore the structure in addition to building the 70 condominiums came in 2025.
Work will begin on the historic portion of the existing structures, starting with the foundation.
Then it will pivot to preliminary residential tower construction before coming back to finish the rehabilitation process.
“This is an incredibly important milestone that has been years in the making,” Patrick DiPinto, owner of Seaward Development and developer of Mira Mar Residences said in a prepared statement, “It officially kicks off the rehabilitation portion of the project and to be stewards of the history and legacy at this site is an incredibly humbling position that we take very seriously.”
Rick Gonzalez, president of REG Architects, a nationally recognized historic restoration expert who was recently appointed to the National Advisory Council on Historic Preservation, is in charge of the rehabilitation.
“Everything being done in the beginning will be to stabilize the current structure and to not jeopardize the strength of the building,” Gonzalez said in the same statement, “This is an exciting process that has to be done right, and that starts with the interior. The first things we will start on will include placing a construction fence around the property, as well as stabilizing and reinforcing the foundation of the existing historic building.”
REG architects will direct the local arm of Suffolk Construction, a group with extensive historic rehabilitation experience.
The team from Suffolk Construction most recently completed the billion-dollar restoration of the iconic Waldorf Astoria New York in Midtown Manhattan that preserved landmarked interior elements.
Brian Stathers, the project executive for Suffolk, said the team will use advanced technologies, including digital modeling and real-time project controls, “to carefully restore the historic structures while preparing for the new residential towers.”
What will the Mira Mar Residences be like?
The site plan for the Mira Mar, located at 65 S. Palm Ave. and 136 Mira Mar Court, calls for commercial reuse of the historic building.
It also calls for a three-story parking garage as part of the two 18-story towers.
The towers will include three- and four-bedroom homes, with sweeping water views on the top floors, unmatched amenities and refined interiors.
The open-concept floor plans will have private elevator access, outdoor terraces and chef’s kitchens with Sub-Zero and Wolf appliances, and a grand island.
Owners will also have private access to a “speakeasy lounge” with bayfront views, resort-style lap pool, massage therapy rooms, yoga and social lawn, infrared saunas, steam rooms, entertaining space with bar area and sunset terrace and a dog park.
The renovated historic structure and courtyard will essentially become a unique entryway to the residences.
The buildings are expected to be completed by the end of 2028 and reservations for the condominiums are being accepted now.
The sales gallery is located down the street from the building site, at 1258 North Palm Avenue in Sarasota.
Leake said the hope is that displaced smaller businesses can return to the renovated structure.
“We’re hopeful that in the rehabilitated second floor commercial space we’ll have an opportunity for some of the smaller local businesses to return,” he added.
Seaward Development said it is talking with multiple restaurant groups and retailers to fill the first-floor commercial space that spans 400 feet of South Palm Avenue and encompasses an acre-and-a-half of land. The Mira Mar housed plenty of popular restaurants and shops as recently as late 2025, before the redevelopment.
“This project is like nothing else being built in Sarasota, with its extensive setbacks that will allow for an open-air lobby, outdoor dining for lunch and dinner, shopping at street level, and wide sidewalks, offering connection and activation in this exclusive downtown location,” DiPinto said.
“It’s really exceptional that we have our incredible century-old story, plus incredible bayfront views as far as the eye can see,” he added. “We believe preserving the long-standing century old tradition of the Mira Mar adds incredible long-term value to the community, and ultimately, our owners are the beneficiaries of this vision.”
What happened to the restaurants and businesses at the Mira Mar, including Caragiulos and Jefferson Fit?
The Mira Mar housed numerous businesses — including Caragiulos Italian American Restaurant, open there since 1989, and newer favorites such as boutique gym Jefferson Fit, which opened in 2023 — that needed to vacate their historic homes.
Today, Jefferson Fit operates out of a larger downtown Sarasota space at 1800 Second St., Suite 100, between Main Street and Fruitville Road, across the street from the Aster & Links apartment towers and Sprouts Farmers Market.
The beloved downtown dining destination Caragiulos, meanwhile, has been closed for months while its local owners build a bigger downtown Sarasota spot at 1833 Ringling Blvd. Best known for its pizzas, pastas and signature salad, Caragiulos’ long, rich history includes praise from celebrity chef Emeril Lagasse and an appearance on his Cooking Channel television show.
Earle Kimel primarily covers local governments in 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: Downtown Sarasota icon set for towering condo transformation
Reporting by Earle Kimel, Sarasota Herald-Tribune / Sarasota Herald-Tribune
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