Newsletter 120

NEWS FROM THE SUNCOAST …..

SHORTAGE

A little more than four years ago, the median sales price for a single-family home in Sarasota County was just over $250,000. But amid the ongoing real estate boom, buyers today would be lucky to find more than a few properties on the market at that price. The median sales price for Sarasota County has ballooned to more than $380,000 as the number of homes on the market dwindle into dangerous territory for buyers and real estate agents. Manatee County has seen a nearly identical increase of the median sales price of residential real estate amid a shrinking inventory of homes for sale. The reasons for the increase are multifold, according to experts in residential real estate: Builders burnt by the last economic crisis have drastically cut back on speculative home building, the COVID-19 pandemic has created a reimagining of office work where Zoom calls have allowed employees to live far from the office and an unprecedented lack of inventory has created an environment where homes stay on the market for days, not months. To read more on this story, courtesy of the Sarasota Herald-Tribune, please click here: Shortage

AN EVEN BIGGER STAGE

There was the Key West-style Longboat Key mansion that sold for $6.1 million before it was even posted on a major real estate website. Then there was the $5.7 million sale of a waterfront penthouse, the most expensive condo sale in Sarasota-Manatee in more than a year. The housing market in Sarasota-Manatee is booming, with prices increasing, inventory low and sales happening at record speed. Meanwhile, rents are steadily increasing, with the city of Sarasota experiencing nine straight months of median rent increases as of April. Though multiple community surveys list affordable housing as a big concern for residents, there are few efforts by local governments to increase stocks in the area. For more on this story, please click here: Bigger Stage

HIGH HOPES FOR HI HAT

A blueprint for one of the largest housing projects ever planned in the rustic, wide open area east of Interstate 75 has been enthusiastically approved by the Sarasota County Commission. In a series of votes recently, the commission’s unanimous decision brought the owners of the 10,000-acre Hi Hat Ranch closer to its vision for replacing much of the rural landscape with a cluster of villages, retail shops and new schools 30 to 40 years from now, despite pleas from area residents against moving forward. The plan by Jim Turner, the ranch’s heir, will pave the way to bring more than 13,000 new homes on a tract that stretches from Fruitville to Clark roads.
Turner’s proposal calls for a cluster of new homes and retail space on half of the property’s acreage. According to the blueprint the County Commission approved, the development would also include 450,000 square feet of commercial space. It also would set aside 75 acres for a new high school and 50 acres for a K-8 school. There’s more on this story here: Hi Hat Ranch

TRANSIT CHANGE ON THE WAY

With a $2.2 million contract with a New York-based ride-hailing company in hand, the Sarasota County Transit Agency is gearing up to transform the area’s public transportation system. And it could come as early as June 5. River North Transit LLC, a subsidiary of Via Transportation, will help SCAT implement its new vision for public transportation that will link county services with the ride-share company. Unlike traditional fixed-route transit, the on-demand system will enable riders to request that a vehicle come to them and take them to a stop nearest to where they want to go. Think of it like an Uber or Lyft but with a few added restrictions. Sarasota County decided in October that it would like to redesign its public transit system, citing a consultant’s estimate that the county is losing an estimated $4 million a year running certain routes with poor ridership. Please follow the jump for more on this story: Transit Changes Coming

RED TIDE REPORTED IN TAMPA BAY

Red tide levels are rising in areas of Tampa Bay near Port Manatee, where 215 million gallons of nutrient-rich wastewater was released in April from the former Piney Point fertilizer plant. The wastewater has high levels of nitrogen and phosphorus, leaving stakeholders waiting for answers to one looming question — whether Karenia Brevis, the organism that causes red tide, would find and thrive in those areas. The Florida Fish and Wildlife Conservation Commission’s daily sample reports recently confirmed that K. Brevis has grown more abundant in the region. "We are seeing a cascade of different algae species that are able to capitalize on those nutrients," said Maya Burke, assistant director of the Tampa Bay Estuary Program. "They are basically cycling through the system." There’s more on this story: Red Tide Returns?

COUNTY REQUESTS REDUCED FERTILIZER USE

As red tide continues to linger off local shorelines, Sarasota County is urging residents to reduce the use of fertilizers that can help fuel the algal blooms. Nutrient pollution is widespread and can create challenging environmental issues for waterways throughout the county. The amount of rainfall expected during the rainy season increases the likelihood of a surge of nutrients in waterways. Excessive nutrients contribute to algae blooms, diminish water quality and threaten aquatic life. With summer rains on the way, residents are asked to reduce nutrient pollution by using environmentally friendly or alternative landscaping and lawn fertilizer from June through Sept. 30. John Morgan is Sarasota County’s Air and Water Quality supervisor. He said that environmentally friendly fertilizers contain zero nitrogen and zero phosphorus. Excess amounts of these naturally occurring nutrients can create a harmful imbalance when washed away into storm drains and carried to local water bodies. Please click here for more: Reduce Fertilizer Use

LOCAL SEAGRASS POPULATIONS SUFFERING

The past two years have been especially brutal on seagrass populations in Southwest Florida waterways, seagrass mapping surveys show. Between 2018 and 2020, Sarasota Bay lost 18% of its seagrass, which equates to roughly 2,313 acres, according to preliminary research by the Southwest Florida Water Management District. It’s a high percentage scientists haven’t seen in decades. "In 2018, we saw the second of two really wicked red tides," said David Tomasko, executive director of the Sarasota Bay Estuary Program. "And that ride tide gave us the biggest single seagrass loss in 30 years." Red tide, also known as harmful algal blooms, occurs nearly every summer along Florida’s Gulf Coast. When it grows out of control, it can produce toxic or harmful effects on people, fish, shellfish, marine mammals and birds. After Hurricane Irma in 2017, red tide brutalized portions of Florida before finally dissipating in the winter of 2018-19. The water management district’s chief scientist, Chris Anastasiou, says the ensuing seagrass loss was worse than anticipated. Click here for more: Seagrass Suffering

TOURISM: BETTER, NOT GREAT

Florida’s tourism industry saw improvement during the first three months of 2021, but the number of visitors was still down 14% from a year earlier as the state continued to grapple with the COVID-19 pandemic. Travel-industry officials can envision bluer economic skies ahead as businesses scale back mask requirements and other social-distancing rules imposed to combat the virus that has killed more than 36,000 Floridians. Florida drew 26.16 million visitors from Jan. 1 to March 31, down from 30.4 million tourists during the first quarter of 2020, according to numbers posted by the state tourism-marketing agency Visit Florida. The pandemic began hammering the state’s economy in March 2020, amid a period that includes tourist draws such as spring break and baseball spring training. The number of tourists fell to 9.92 million in the second quarter of 2020, a 69.4 percent drop from the prior year, before increasing to 20.33 million in the third quarter and 19.096 million for the fourth quarter. There’s more here: Tourism Getting Better

GARDEN GROUNDBREAKING

Nearly four years after Marie Selby Botanical Gardens unveiled plans for a new Sarasota campus that triggered neighborhood revolt and divided the community, leaders broke ground on the first phase of the project. About 200 people, including major donors, project managers, representatives from the City of Sarasota, and state and federal elected officials, gathered recently for a ceremonial turning of the dirt and to recognize the progress made since plans were publicly unveiled in October 2017. The project will create an energy-producing, 15-acre campus with new buildings and more green space. Selby is seeking to raise a total of $72 million to cover the construction and renovation costs during three phases of work — and another $20 million to expand the garden’s endowment and provide operational costs. There’s more on this story here: Selby Moves Ahead

LIDO BEACH RENOURISHMENT COMPLETED

City officials and community members gathered on a vast, sandy stage recently to announce the long-awaited completion of Lido Beach’s renourishment. Lido Beach had been eroding for decades and plans for its renourishment were in the works for more than 20 years. Partnered with the Army Corps of Engineers, the city of Sarasota began dredging Siesta Key’s Big Pass and pumping recycled sand onto Lido Key last spring. Roughly 700,000 cubic yards of sand were pumped onto a 1.56-mile stretch of Lido Key, extending the beach’s width by an average of about 300 feet. The affected shoreline reaches from the north public beach access to Ted Sperling Park. Two groins made of nearly 5,000 tons of armor stone have also been installed along South Lido Beach to further reduce the effects of erosion. If you’re interested in reading more, then click here: Lido Beach Completed

BOBBY JONES PROJECT BACKED

After initially denying funding for a crucial $3 million wetland redevelopment project at Bobby Jones Golf Course, the state board that manages regional water resources has changed its mind. The shift in direction comes a week after Sarasota County commissioners unanimously agreed to become more involved in the construction of an 18-acre wetland treatment system next to the municipal course.
While elected officials have previously spoken in favor of the project and county staff have worked behind the scenes for years, the officials agreed to take a more prominent role on May 18. The county is also expected to provide long-term maintenance on the project intended to restore wetlands and improve water quality by filtering tons of impurities and harmful nutrients before water enters Phillippi Creek and eventually Sarasota Bay. Click here to read more on this story: Bobby Jones Backed

ANNA MARIA WATER TAXI IDEA GAINS STEAM

Commissioners have long dreamed of creating a water taxi system to connect the various waterfront communities throughout Manatee County. The idea gained more momentum recently, when the county approved three out of four proposals from cities on Anna Maria Island seeking to tap into the county’s Tourism Development Tax funding. With two city mayors present at the meeting, commissioners seized the opportunity to discuss an initiative to bring a water taxi system for residents and tourists to Manatee County. Other projects approved include a Mote Marine learning center on the City of Anna Maria Pier, major improvements to the Bradenton Beach Pier and reimbursements for recent upgrades to Grassy Point Park in Holmes Beach. Click here for more on this story: Anna Maria Water Taxi