Newsletter 104

NEWS FROM THE SUNCOAST

TRAFFIC TANGLES RILE RESIDENTS

A worker ran out of gas sitting in traffic on Longboat Key. A manager said that it takes more than two hours to return home to the mainland across John Ringling Causeway. A woman quit her job as a caregiver for a senior resident on Longboat because the two-hour commute became too much. The homebound resident she cared for is still looking for a caregiver willing to fight traffic. Since January, Sarasota Mayor Jen Ahearn-Koch has received 56 emails from frustrated motorists, stuck in gridlocked traffic from downtown Sarasota to St. Armands Circle. "I have never experienced this kind of heavy traffic in my 49 years in Sarasota," Ahearn-Koch said in a recent email to a constituent. To read more on this story, courtesy of the Sarasota Herald-Tribune, please click here: Traffic Woes

PROPOSED ROUNDABOUT POSES A PROBLEM

Officials in the Town of Longboat Key are asking their counterparts in Sarasota to delay construction on a major roundabout project on Gulfstream Avenue and U.S. 41, saying road overhauls already underway are overlapping, creating a "domino effect" that has "left the barrier islands in gridlock." "Construction timing has been terrible," Town Mayor George Spoll said in a letter to Sarasota Mayor Jen Ahearn-Koch. "We need your help, and time is of the essence." Spoll requested that the city reconsider and delay the start date of the Florida Department of Transportation roundabout project that will replace the signalized intersection at U.S. 41 and Gulfstream Avenue. That project on the major artery to the barrier islands is expected to begin in late fall after the Fruitville Roundabout is completed. For more on this story, please click here: LBK Asks Sarasota For Gridlock Help

REGIONAL HOME SALES UP 10% IN 2019

Boosted by a December surge, home sales in 2019 grew nearly 10% over the year in the Sarasota-Bradenton region. Buyers closed on 15,862 existing single-family homes last year, which was 1,425 more than in 2018, according to data from the Florida Realtors trade group. Home sales in the final month of 2019 totaled 1,481, a 44% swing over the prior year. "December was a banner month for real estate transactions by most measurements," said David Clapp, president of the Realtor Association of Sarasota and Manatee. "With homes spending less time on the market, an increase in cash sales and the volume of sales, December 2019 experienced more market activity than we typically see this month." Condominium sales, however, were not as robust. They were down 5.5% from a strong 2018, with 6,529 units changing hands in the region last year. Condo sales did rise nearly 19% to 502 units in December. Please follow the jump for more on this story: Home Sales Strong in 2019

HOME PRICES KEEP PACE

Home price growth in Southwest Florida kept close pace with state and national gains at year end. Single-family home prices increased 3.8% in December over the year in the Sarasota-Manatee region, real estate database CoreLogic said in a recent report. That slightly lagged behind the U.S. hike of 4% but beat the Florida increase of 3.6%. "Moderately priced homes are in high demand and short supply, pushing up values and eroding affordability for our first-time buyers," said Frank Nothaft, chief economist at CoreLogic. There’s more on this story here: Home Prices Keep Pace

STAGGERING IMPACT OF RENTALS

Bright blue vacation rental houses and beachside coral-colored condos are a vital part of the tourism industry in the Sarasota-Manatee County area, and a new study from the University of Central Florida reveals just how much they matter. According to the survey released late last year, the vacation rental industry in Sarasota-Manatee contributed a combined $457 million to the local economy in 2018. According to the survey, the direct economic impact of vacation rental homes in Manatee County is $345 million, and it’s $112 million in Sarasota County. The average daily rate per rental unit in Manatee is $257 and it’s $186.66 n Sarasota. Please click here for more information: Staggering Rental $$$

AIRBNB’S TAX BILL: $1.8 MILLION

Sarasota County received $1.8 million in bed tax revenue last year from vacation rental platform Airbnb. In a recent report. Airbnb said that was part of nearly $40 million in resort taxes it collected for local governments in 2019. The company said it collected and delivered $136.7 million in total tax revenue to local and state governments in Florida last year. That was up from $89.5 million in 2018. Click here for more: Airbnb’s Big Tax Bill

NORTH PORT READY FOR SPRING TRAINING

National visibility is the first big benefit North Port area economic leaders point to from the September 2017 decision by the Atlanta Braves to relocate its Spring Training home to the West Villages. The second biggest impact may be the Braves’ commitment to deal with local businesses. "Obviously the biggest thing is that it’s put North Port on the map," said Bill Gunnin, executive director of the North Port Area Chamber of Commerce. There’s more here: North Port Ready

BIKE SHARING LAUNCHED AT ST ARMANDS

Sarasota has launched a new bike-sharing pilot program to help residents and visitors in the St. Armands area. About 10 cruiser bicycles are available for hourly and daily rental by visitors at the St. Armands Garage. The bikes can be rented via mobile phones from a self-service station located near the first-level entrance of the garage. The city will monitor the pilot program results and may expand it to other city owned parking garages in downtown Sarasota. Click on the link for more: Bike-Sharing Program

CITY OK’S MORE PARK SPACE AT BOBBY JONES

A five-year community conversation about the fate of Sarasota’s Bobby Jones Golf Club culminated recently in a plan for a smaller footprint for the historic course. That plan opens the park up for broader public use than golf. The design features 27 holes of golf, including the original 1925 course, and one larger park with additional trees and water quality enhancements. The park’s footprint would cover an estimated 130 acres – almost three times that of the 53-acre waterfront redevelopment Bay Project on U.S. 41. Please click here for more on this story: More Park Space

SARASOTA’S OSCAR MOMENT

The filmmakers whose work was rewarded at the recent Academy Awards ceremony included a number of former Sarasota residents. "Toy Story 4," which won this year’s Best Animated Feature Film Oscar, featured numerous Ringling College of Art and Design graduates on its crew. Fellow Animated Feature Oscar nominees "Missing Link" and "How To Train Your Dragon: The Hidden World" also featured Ringling College graduates among their crews. If you’d like to learn more, then click here: Oscar Moment