Newsletter 165

NEWS FROM THE SUNCOAST …..

ST. ARMANDS COMES BACK

What could have been one of the worst moments in Kimberly Gordon’s business career turned out to be a shining example of community. Gordon and her husband Glenn own The Spice and Tea Exchange on St. Armands Circle, Sarasota’s popular barrier island shopping and dining destination. Following Hurricane Helene—which inundated the commercial area with floodwaters last fall—the Lakewood Ranch couple weren’t sure where to begin. “I think everyone in the circle after the storm thought ‘What do we do?'” she said. “I mean it was just devastating.” Gordon reached out to her church—the Bayside Community Church, which has several campuses in the area—just to let them know her business had been flooded during the storm. The following weekend, when they returned to continue cleanup, 20 members of Bayside Community Church’s Fruitville campus led by Pastor Willie Gilliard also arrived with tools and a helping hand, ripping out drywall and prepping the site for any repairs that would require permits. With the jumpstart provided by the volunteers, the Spice and Tea Exchange was able to reopen the day after Black Friday, with more St. Armands businesses following suit each week since, building toward the peak winter and spring high visitor “season.” Gordon said that business on St. Armands Circle has been good, with the retail operations slowing a bit in the New Year. “But that’s normal,” she said of the period right after the holiday season. The business owners on St. Armands Circle had a difficult year as the low-lying barrier island experienced multiple floods in 2024, including after an unnamed storm system in June dumped record rainfall on the city. That was followed by Hurricane Helene and then Hurricane Milton just a couple weeks later. The unprecedented one-two punch of back-to-back blows by hurricanes Helene and Milton, which made landfall on Siesta Key, hit at potentially the worst possible time of the year as the area’s seasonal visitors drive the majority of sales starting in the fall and running through March. The merchants of one of Sarasota’s oldest and most iconic tourist destinations have rallied with nearly 60% of businesses open, said Rachel Burns, director of sales and marketing for the St. Armands Circle Association. “These small business owners rely on seasonal visitors,” she said. “They are just doing everything they can to reopen.” Of the roughly 130 businesses that were in operation before the storms, about 75 of them have reopened, with several others only weeks away from welcoming customers, Burns said. Burns said the perception that St. Armands Circle has been knocked out continues. Despite the effort the businesses have expended to open their doors, Burns still fields calls from tourists asking whether they should cancel their trips. Burns said the St. Armands Circle Association continues to host events, noting the Winter Festival will come back to the island on Jan. 25 and 26, while noting on Saturday the circle will be holding the annual Jaguar D’Elegance, a car show focused on the luxury-sports vehicle. For more information on this story, courtesy of Sarasota Herald-Tribune, please click here: St. Armands Comes Back.

SARASOTA-MANATEE REAL ESTATE SLOWDOWN

Sarasota-Manatee’s real estate market showed “a clear slowdown,” with fewer sales, lower prices, and longer times to sell in November, according to the monthly report from the Realtors Association of Sarasota and Manatee. The most recent report attributes the slowing market to high mortgage rates, inflation, and a housing market where homes have become less affordable combined with a rebalancing of the market following home prices soaring after the COVID-19 pandemic. “The current trends show the market is finding its footing after the pandemic-driven surge,” said Tony Barrett, 2024 RASM president and broker/owner of Barrett Realty. “We’re seeing a return to more balanced conditions, similar to what we experienced before 2020, where buyers and sellers had equal opportunities to navigate the market successfully.” November is traditionally a slower time in the local real estate market, which could also be impacting real estate sales. Whether the market is down because of a rebalancing, storm impacts, or high mortgage rates and inflation, home sellers will find a vastly different environment than they would have just two years ago. In November, the local Realtor’s association identified four main trends: decreased closed sales, declining median sales prices, longer time to sale, and growing inventory. Closed sales of single-family homes in Sarasota County decreased by 18.9% to just 439 sales compared to November 2023. The median sales price remained stable at $490,000 compared to last month, but the median sales price was down year-over-year by 2%. “While it may seem concerning to see fewer sales and longer times to sell, these changes bring the market closer to the steadier patterns we saw before 2020,” the report stated. “Back then, prices grew more slowly, and there was less competition, making it fairer for both buyers and sellers.” There’s more to read here: Sarasota-Manatee Real Estate Slowdown.

WHAT LIES AHEAD FOR GULF COAST HOUSING MARKET?

This is a recent column by Budge Huskey, CEO of Sotheby’s International Realty. As we close the chapter on 2024, it is an opportune moment to reflect on the housing market’s recent trajectory and ponder where it might be headed. This past year has been defined by significant shifts – three hurricanes directly impacting Florida’s Gulf Coast, evolving brokerage policies, a contentious national election, and ongoing affordability concerns for many due to prices and stubbornly inflexible borrowing costs – all of which have set the stage for what could be a pivotal and transformative year ahead. The pressing question remains: Will the turbulence of recent years finally give way to stability? Experts caution that underlying challenges such as elevated mortgage rates and less than historical demand may likely linger yet, amidst some trepidation, there are encouraging signs of a more positive year ahead. Home prices in 2024 rose a modest 3% nationally, a stark contrast to the double-digit surges of the pandemic era. While this represents a deceleration with select markets witnessing even a small erosion in average sales prices, they remain 50-60% higher in our markets than five years ago. Hopes of significant reductions in mortgage rates due to Fed actions were tempered by a 10-year treasury note rate shaped by renewed inflationary reservations. The interplay of resistant home values and high mortgage rates created formidable barriers for many, though even slight further dips in rates may entice sidelined buyers back into the market as they remain well under the historic average. The key is adjusting expectations from the extremes of recent years to a new normal. Prices overall, however, are a function of supply and demand. Even with expectations of increasing demand ahead, inventory levels along the Gulf Coast, which are 30-40% higher than last year, will result in relative stability vs. the progression of former years. Home sales failed to meet expectations in 2024, marking the second consecutive year of sluggish activity. With an estimated 4 million sales for the year, far below pre-pandemic levels, the market nationally proved the weakest in three decades. Considering the significant population gains since we last saw such a pace, it is clear the market is out of alignment and home sales should be far greater. In areas such as Florida, the pandemic sales gains far exceeded that seen in most of the country, leading to a wider correction gap. In the end, real estate markets tend to revert to the mean. We went far above the trend line, dipped below it these last two years trailing the country, and should now enter a period of returning to the mean and a sense of normalcy. Forecasts vary as they do every year, yet a consensus is building around an approximate 5.0% to 7.0% increase in closed sales with an even higher lift on the new construction side. Florida, a perennial favorite for its growth and economic resilience, experienced a cooling in its housing market in 2024. Hurricanes, rising insurance premiums, and the financial implications of new structural and reserve requirements for condominiums created a climate of uncertainty. On a positive note, insurance reforms have attracted more carriers to the state, though premiums are unlikely to decline significantly. Buyers must now consider these additional costs when evaluating affordability. Florida remains the envy of the country, with many of our markets winning awards for being among the best places to live or retire. Florida is also home to nine metro areas among the nation’s top 100 housing markets. And on the Gulf Coast, we continue to draw more attention and interest around the country from untraditional feeder markets. The pool of potential buyers has expanded dramatically in recent years, and we simply need to unleash the pent-up demand. And the data is telling. NAR’s newly released November sales statistics (December’s figures won’t be released until late January) reflect a lift in closings over the same month last year. While the variance is subtle, it represents an important turning point as the second consecutive month of year-over-year growth after over 40 months of declines. We are coming off the bottom. Beyond the numbers is something intangible, yet equally powerful, with the conclusion of the election. Regardless of one’s opinion of the outcome, there is validity to the reduction of uncertainty and the release of “animal spirits.” Perception and emotion have always proven enormous influences on the housing market, especially in the luxury and second home sectors, and initial readings suggest a greater willingness at this time to move forward with sizable asset purchases. As we look to 2025, the housing market will demonstrate something we have not seen in many years: normalcy. Surely you may remember when prices trended at the rate of inflation with sales increasing at a sustainable pace based on fundamentals and demographic drivers. Perhaps the exciting roller-coaster of real estate may be ending. I, for one, am ready to get off this crazy ride and back to the business I once knew. Please click here for more: What Lies Ahead For Housing Market?.

SARASOTA RANKS IN TOP 25 FOR GROWTH

U-Haul’s annual report on where Americans are moving to is out, and Florida remains a top destination. In the company’s list of top 25 growth metro areas for 2024, released recently, seven of them were in the Sunshine State — Lakeland, Palm Bay, Jacksonville, Tampa, Sarasota, Fort Myers, and Daytona Beach — and Ocala was named the top growth city outside a metro area. Overall, Florida dropped a little in U-Haul’s rankings last year. Each year, U-Haul tracks the net gain of one-way U-Haul trucks arriving in a state or city compared with the net gain of trucks leaving that same state or city, to see where people are moving. The U-Haul Growth Index is compiled from over 2.5 million U-Haul truck, trailer, and moving container rentals throughout the year. “Florida continues to see people arriving from states throughout the Northeast. Some of the many reasons are our great weather, beautiful beaches, and the amusement parks,” said Mario Martinez, U-Haul Area District Vice President, in an emailed release. Florida has been in the top four states for incoming trips since 2015 and was No. 1 in 2019. In 2023, Florida was second behind Texas, but last year we were fourth behind South Carolina, Texas, and North Carolina. “We have no state income tax, which attracts a lot of people to Florida,” Martinez said, also pointing out the number of job opportunities and the younger generations moving down. “There is so much to do here, and so many job opportunities once they finish school,” he said. There’s more to read here, courtesy of The Palm Beach Post: Sarasota Top 25 For Growth.

LWR TOP US SELLER FOR 7TH YEAR

The Lakewood Ranch master-planned community was named as the top-selling multi-generational community in the United States for the seventh consecutive year. The community was the second highest selling community overall, according to rankings published by the Real Estate Economics & Market Research Management Consulting firm recently. The Villages, a central Florida community which caters exclusively to residents age 55 and older, topped the list with a total of 3,208 sales in 2024, compared with the multi-generational Lakewood Ranch for the top spot on the list overall by 983 homes sold. In 2024, a total of 2,210 homes were sold in Lakewood Ranch community, which has been centered in Manatee County for 30 years and is increasingly expanding into Sarasota County. Move-up homes and multi-generational villages represented 49% of those sales, entry-level homes represented 23%, retiree and active adult markets 16%, and luxury homes 12%, according to a press release from Lakewood Ranch and its developer Schroeder-Manatee Ranch. The RCLCO report praised the community’s resilience following the impact from Hurricane Milton this year. “Lakewood Ranch’s multi-generational appeal remains its defining strength, while its prime location and thoughtfully planned infrastructure offer reassurance to today’s more cautious homebuyers,” Lakewood Ranch Senior Vice President Laura Cole said in the news release. The average home price rose 7.4% in 2024 to $734,000, the news release noted, “driven by demand in the move-up and luxury markets,” adding that “sales were particularly strong at both ends of the pricing spectrum, with notable activity” both below $299,000 and above $3.5 million. Growth trends are set to continue in 2025 with the introduction of eight new villages, planned expansion of roads and trails, construction of 15 new miles of roads, and infrastructure for trails, parks, and more than a dozen new roundabouts, the release stated. There’s more on this story here: LWR Top US Seller For 7th Year.

LWR GROWTH PLAN ADVANCES

Lakewood Ranch‘s eastward expansion in Sarasota County took another step forward recently after the Sarasota County Planning Commission recommended approval for the first 550 acres in the 4,100-acre development about 10 miles east of Interstate 75. Lakewood Ranch Southeast will be north of Fruitville Road and west of Verna Road near the Manatee-Sarasota County line and will now be headed for approval for a rezoning of one of the first phases of the large project. This phase of Lakewood Ranch Southeast Project calls for 910 single-family homes and 490 multifamily units on 546 acres in the first of seven planned areas. The project has a total of 5,000 dwelling units across the 4,100 acres of developable property. The project would be a continuation of the Manatee County-centered Lakewood Ranch, a 30-year-old city-scale development. The more than 33,000-acre project now has a population of 72,000 people. The master developer of Lakewood Ranch is Schroeder-Manatee Ranch Inc. Last week Sarasota County planning advisory board recommended approval of rezoning the land from the current rural classification that had allowed just one unit per 10 acres to a residential category that will allow up to 3.5 homes per acre. That increase in density, which first received a County Commission greenlight in late 2022, triggered a legal challenge from longtime residents of east Sarasota County that has so far been unsuccessful, despite the residents’ continued confidence they will prevail. Mike Hutchinson and Eileen Fitzgerald filed a legal challenge over the changes, arguing the increase in residential density broke promises made to the county’s rural community when it updated its growth plan in the early 2000s. Hutchinson and Fitzgerald have appealed an order that went in favor of the county in 2023, with arguments scheduled in their appeal of the 2023 decision. Hutchinson attended the rezoning hearing before the Planning Commission last Thursday, telling the board that the process was a waste of time since he would be winning the appeal. If Hutchinson and Fitzgerald were to win the appeal, the project would not be able to proceed as envisioned. The Lakewood Ranch Southeast asked for a waiver from holding an additional neighborhood workshop. Sarasota County requires community workshops within nine months of when the project receives approval, with the ability to extend the window by an additional 12 months. A county neighborhood workshop for the project was completed in March. The planning board recommended that the county approve the waiver, in addition to recommending the County Commission grant the rezoning request. This phase of Lakewood Ranch Southeast Project will see 910 homes and 490 multifamily units built on 546 acres in the first of seven planned areas. The project has a total of 5,000 dwelling units across the 4,100 acres of developable property. There’s more on this story here: LWR Growth Plan Advances.

SCIENTISTS STUDY MIDNIGHT PASS

Since Syd Solomon and Pasco Carter Jr. received permission to close Midnight Pass in 1983, many area residents have yearned for its reopening. Hurricanes Helene and Milton – which impacted Sarasota County on Sept. 26 and Oct. 9 – abruptly opened a new pass, re-establishing a link between Little Sarasota Bay and the Gulf of Mexico for the first time in over four decades. Solomon’s home was demolished by Sarasota County following Hurricane Ivan in 2004. Mike Evanoff, president of the Midnight Pass Society II, now owns the former Carter home. “Pasco Carter is the one that closed the pass and I’m the one that owns the house and is trying to open the pass,” Evanoff said. “Forty years later, it’s the complete opposite.” The two storms have, for now, rendered moot the debate on reopening Midnight Pass, though a model developed by scientists studying water flow suggests it may remain open naturally. The Sarasota County Commission has committed to keeping Midnight Pass open, listing it among its 2025 strategic planning priorities. A Nov. 6 letter from County Administrator Jonathan Lewis to the Florida Department of Environmental Protection documented efforts to monitor the inlet, model future flow, and determine that the newly formed pass meets the definition of an inlet. The inlet’s throat is currently 130 feet wide and nearly 15 feet deep. David Tomasko, executive director of the Sarasota Bay Estuary Program, noted that after Hurricane Helene, a small channel reopened but closed within a week. Following Milton’s landfall, however, the pass remains 12 to 14 feet deep over two months later, suggesting stability. Various academic institutions and agencies, including Sarasota County Public Works, the University of Florida, and the University of South Florida, are tracking the pass and its impact on Little Sarasota Bay. At high tide, boats and jet skis can navigate between the bay and the Gulf, though low tide may make passage too shallow for boats. Data and modeling will guide Sarasota County on any necessary dredging to maintain the pass. Tomasko emphasized that the data will help develop a sound and scientifically accurate management plan. Please follow the jump for more on this story: Scientists Study Midnight Pass.

VEHICLE CONDOMINIUM SITE NEARLY COMPLETE

An “exclusive garage condominium” located east of Interstate 75 in Sarasota County near Lakewood Ranch‘s Waterside Place will be completed early next year, according to a news release from the listing agent for the remaining units. Car Collective was the brainchild of Sarasota auto enthusiast Scott Elsbree, who wanted additional vehicle storage while also hoping to create a car-centric community. Elsbree, a downtown resident, needed a safe and secure location to keep his collection, especially after the area was struck by back-to-back hurricanes this season. “Built to withstand Category 4 storm conditions with impact-rated construction, Car Collective provides owners the peace of mind that their vehicles are protected no matter the weather,” the news release stated. The structure features impact windows and doors, 20-foot ceilings, and 11 units, each equipped with a half bath, utility sink, HVAC, Wi-Fi, and ample parking. Seven units have been sold, with Michael Saunders & Co. agent Joanna Benante leading the sales effort. The luxury garage condos range from 800 to 2,215 square feet, offering personalization options like mezzanines, wet bars, cabinetry, custom flooring, auto lifts, and entertainment systems. The least expensive unit, an 800-square-foot space, sold for $317,000, while the current least-expensive option is a 1,243-square-foot unit priced at $495,000. Please click here for more: Car Condominium Almost Complete.

WATER QUALITY REBATES OFFERED

Sarasota County is offering residents rebates for home and property projects that could improve local water quality. The program is meant to “encourage homeowners to install specialized small-scale Best Management Practices (BMPs) that improve water quality and increase stormwater infiltration, thus protecting our valuable water resources,” according to a county website. Rain gardens and landscape depressions that capture and treat stormwater runoff, called bioswales, can garner up to $500. Those with downspout planters can collect up to $1,000. The Sarasota County Water Atlas also operates a page to help residents find best practices for their site, which could go for a rebate of up to $5,000. The program began this month. “Enhanced water quality supports local plants, wildlife, recreational areas and other economic drivers,” a county news release stated. Only properties in the city of Sarasota and unincorporated areas of Sarasota County qualify. Homeowners can only receive rebates for up to two projects per property, and the applicant must also be the property owner on record. Applications can be submitted to scgov.net/raincheck. Spencer Anderson, the county Public Works Director, called the program “a great opportunity to collaborate with our community, especially to prepare for storms and heavy rainfall,” Anderson said. Areas of Sarasota County both inland and along the barrier islands faced historic flooding during the fall’s storm season. About 100 homes near Phillippi Creek and Cow Pen Slough were inundated with water after Hurricane Debby swept through with record-breaking rains. Please click here for more: Water Quality Rebates Offered.

LBK NAMED AMONG BEST TRAVEL DESTINATIONS

Forbes Travel Guide’s “Top 12 Destinations for 2025” highlights locales from around the world. “From Asheville to Amsterdam, these hot spots should be on next year’s itinerary,” reads the article, published earlier in December by the renowned American business magazine founded in 1917. The list includes destinations spanning South Asia, North Africa, and Australia. Several United States vacation spots are featured as well, including a small, relatively obscure island in Florida. Following the recent announcement that one of Longboat Key’s most popular and highly acclaimed restaurants — Dry Dock Waterfront Grill, overlooking Sarasota Bay — made OpenTable’s list of Top 100 Restaurants in America for 2024, the entire barrier island has earned a coveted spot on Forbes Travel Guide’s “Top 12 Destinations for 2025.” While Longboat Key spans parts of Sarasota and Manatee counties on Florida’s west coast, the Forbes article focuses on the Sarasota side, specifically The St. Regis Longboat Key Resort. Opened in August, the luxury hotel overlooks a private white-sand beach and the Gulf of Mexico, offering guests spacious rooms with coastal accents, multiple waterfront restaurants and bars, and a spa featuring various signature treatments. Forbes notes that “no matter your travel motivation — from Super Bowl LIX in New Orleans to Amsterdam’s 750th birthday — you will find a place to visit” on its list of the top destinations for 2025. Longboat Key is described as a “tranquil barrier island off the coast of Sarasota.” “Here, visitors will discover 12 miles of soft white-sand beaches, turquoise waters and nature preserves,” writes Forbes contributor Jennifer Kester. “But the secret is out with the opening of The St. Regis Longboat Key Resort, the only hotel from the brand to debut in the U.S. in 2024 and the largest development on the island in 50 years.” The St. Regis occupies the prime Longboat Key property that formerly housed the famed Colony Beach and Tennis Resort and began construction about three years ago. Now, it offers guests a beachside getaway spanning 18 acres and 800 feet of private beach. The 168-room resort, which was temporarily closed following minimal damage from hurricanes Helene and Milton, also features multiple pools and cabanas, a winding waterway, and a saltwater lagoon wildlife experience that includes stingrays, tortoises, and tropical fish. The average room rate is $1,200, according to information provided by The St. Regis at its opening. The resort features four main dining venues: the steakhouse CW Prime, the Northern Italian restaurant Riva, the Latin American spot Aura, and the rooftop lounge serving Asian fusion cuisine, Oshen. There’s also The St. Regis Bar, The Monkey Bar, and the hotel’s café, Caroline’s. All of the restaurants and bars are open to the public, except for Oshen, which is exclusive to hotel guests and St. Regis members. Please click on the link for more, courtesy of Community Foundation Of Sarasota County: LBK Named Top 12 Best Destinations.

MOTE SEA CONSTRUCTION STILL ON TRACK

On Dec. 5, 2023, Mote Marine Laboratory & Aquarium came one step closer in realizing its vision of significantly improving access to marine science education and technology for all, as it held a topping off ceremony for its new Mote Science Education Aquarium (Mote SEA). The topping off ceremony is an age-old tradition in which the last structural beam is placed on a project, commemorating a major construction milestone. Mote Trustees, President’s Advisory Council, members of the construction team, and Mote staff members gathered around the steel beam, memorializing their contributions and support of the project by signing it with their names, marking it with endearing messages, and messages that convey the vision of Mote SEA, before it was lifted by a crane to be put into place. “Today marks a major milestone for our entire Mote family and communities throughout the region to celebrate how close we are to witnessing the truly transformative nature of experiential science learning opportunities that over 100,000 school children and nearly a million visitors will experience every year within these walls,” said Dr. Michael P. Crosby, Mote President & CEO. Mote SEA will transform our ability to provide informal science education and enhanced levels of ocean literacy to much larger and more diverse populations locally and from around the world. The impacts of Mote SEA will be seen and heard far and wide. Mote SEA is no ordinary building and is much more than just an aquarium. Mote SEA is an innovative, world-class ocean science education center bridging the gap between paradigm-changing research and science education access for everyone that will spark opportunities and change.” Mote SEA will feature 110,000 sq ft and one million gallons of informal marine science education space including fascinating underwater exhibits and interactive teaching labs. From pre-K children to retired adults, from family-focused education programs to National Science Foundation-supported research internships and teacher professional development workshops, Mote SEA will tailor marine science education for myriad audiences at every stage of life. Most importantly, Mote SEA will provide critical experiential science, technology, engineering and math education in its three K-12 STEM teaching labs to 70,000 students from Sarasota and Manatee County schools, and family day passes to 24,000 Title 1 schools each year, free of charge. “Mote SEA will expand education access and participation of learners, including populations that are underserved in our community or underrepresented in marine science and technology. Whether Mote is encouraging girls to excel in scientific fields, involving at-risk youth in ocean technology product development, or engaging local communities in volunteer citizen science projects, Mote SEA will provide hands-on marine science and technology research experience opportunities that reach far and serve all,” said Aly Busse, Associate Vice President, Mote Education. Interactive teaching labs will be accessible to all schools in the region, including no-cost opportunities, so that each child has the chance to discover marine science and technology, first-hand. Strategically collaborating with schools and community groups where needs are greatest, Mote will continue to educate students who might not otherwise have access to aquariums and marine science education. There’s more here: Mote SEA Construction Still On Track.

SRQ AIRPORT OPENS NEW TERMINAL

Sarasota Bradenton International Airport (SRQ) unveiled its new Concourse A on Tuesday, marking a significant milestone in the airport’s rapid rise as one of the fastest-growing travel hubs in the United States. The $72 million addition, completed in just over 16 months, is part of an ambitious $200 million master plan to accommodate the airport’s explosive growth and enhance passenger experience. Since the start of the pandemic five years ago, SRQ has transformed its operations dramatically, growing from six airlines serving 12 nonstop destinations to 11 airlines offering 61 nonstop routes. Passenger traffic has surged by over 300%, cementing the airport’s status as a key gateway to Florida’s Gulf Coast. The new Concourse A features five additional gates, expanded seating areas, and modernized amenities to support the growing demand. In a nod to the Sarasota-Bradenton region restaurant scene, three new food options await passengers in Concourse A: a full-service Anna Maria Oyster Bar, a condensed sit-down Patrick’s 1481 restaurant, and a grab-and-go sandwich and snack shop, Sarasota To Go. Concourse A is the first of several planned upgrades, including a new terminal wing, enhanced baggage handling systems, expanded dining and retail options, and improved parking and ground transportation facilities. Together, these projects aim to position SRQ to serve up to 7 million passengers annually in the coming years. One of the biggest drivers of SRQ’s growth is Allegiant Air. The airline, which began operating at the airport in 2018 with just three routes, now offers 27 nonstop destinations from SRQ. Eight more recently launched in November, bringing the total to 35. “This type of growth doesn’t happen by accident,” said Michael Broderick, Allegiant’s senior vice president of airport affairs. “It’s the result of strong partnerships with SRQ leadership, Visit Sarasota County, and the Bradenton Area Convention and Visitors Bureau. Together, we’ve been able to reach travelers who might not have otherwise chosen this region, creating opportunities to expand service and grow the market.” Florida is Allegiant’s most significant market, with nearly half of the airline’s capacity tied to the state. SRQ has become an integral part of Allegiant’s operations, solidifying its role as a low-cost travel option for passengers seeking access to Florida’s Gulf Coast. “When we pulled up and saw all the Allegiant tails lined up at the new concourse, it was a powerful moment,” Broderick said. “It’s a visual representation of our commitment to this community and the opportunities we see here for continued growth.” The opening of Concourse A is just the beginning of SRQ’s plans to keep pace with its rapid growth. Future projects include expanded facilities for food and retail, improved parking, a new baggage system, and additional ground transportation infrastructure. These improvements are designed to support the airport’s growing role as a regional economic driver and a vital link for travelers from across the country. There’s more on this story here: SRQ Airport Opens New Terminal.

CENTENNIAL CELEBRATION BEGINS FOR SMH

While the New Year is typically a time to look forward with hope and optimism, Sarasota Memorial Health Care System is encouraging people to step back in time and reflect on the hospital’s storied history as it celebrates a century in operation. The Sarasota Memorial Health Care System, which includes the First Physicians Group medical practice, has grown into the largest employer in Sarasota County with roughly 10,000 employees, including 2,500 physicians and advanced practice providers who see nearly 2 million patient visits a year across its network. The network includes full-service hospitals in Sarasota and Venice with 1,109 beds, free-standing emergency rooms in North Port and Lakewood Ranch and several outpatient centers, urgent care clinics, and physician practices reaching from Manatee County to North Port. SMH plans to break ground on a new hospital in North Port later this year. As the region’s only public health system and not-for-profit health care provider, SMH serves as a critical safety net for the uninsured in Sarasota County. As the community-owned hospital’s centennial year unfolds, the system is offering opportunities to learn about what it took Sarasota’s founders to build the area’s first modern hospital. “Our community and SMH have a lot to celebrate this year,” Sarasota Memorial CEO David Verinder said in a prepared statement. “We’ve come a long way from that 32-bed hospital that opened its doors 100 years ago. Today, Sarasota’s flagship hospital has evolved into one of the nation’s best health systems, a pioneer of new treatments and technologies, life-saving trauma center and award-winning teaching hospital,” he added. “Every year of growth, every medical milestone, every technological advance, were made possible by the people of our community, and the outstanding doctors, nurses and staff entrusted with their care.” SMH is installing a special, 35-foot timeline in the lobby of its Sarasota hospital and sharing its 100-year history book, “A Century of Caring,” featuring historic events and milestones that shaped the public institution over the past 10 decades. The hospital also created an interactive webpage smh.com/100 and is encouraging people to visit the site to add their own historical photos to the hospital’s online timeline, flip through an electronic version of SMH’s history book and learn about future activities leading up to SMH’s 100-year anniversary in November. There’s more on this story here: Centennial Celebration Begins For SMH.

SARASOTA POWERBOAT GRAND PRIX OUT IN 2025

One of Sarasota-Manatee’s largest annual events has announced that it will not take place this year. Sarasota Powerboat Grand Prix, which features powerboat races along Lido Beach and a Pit Party in the Van Wezel Performing Arts Hall parking lot, will not return in 2025 but will instead “revisit opportunities in 2026,” according to a press release. Reasons cited for the decision by race organizer Powerboat P1 included budget concerns and uncertainties surrounding the ongoing construction of The Bay’s master plan, which impacted the Van Wezel parking lot and Centennial Park. “While it’s disappointing to pause the Sarasota Powerboat Grand Prix in 2025, this event has been a cornerstone of our community for nearly four decades, bringing excitement, economic impact, and international recognition to our destination,” Visit Sarasota County Director of Sports Pete Harvey said in a statement. “We understand Powerboat P1’s decision and appreciate their commitment to maintaining the event’s high standards. We support their commitment to maintaining the event’s high quality and look forward to its potential return in the future.” Powerboat P1 remains optimistic about finding ways to bring the event back to the Sarasota area, according to the press release, including identifying an alternate site during the construction period or securing additional sponsorship support. However, Powerboat P1 Commercial Director Thomas Covington said in a statement, the goal is to ensure any future Sarasota event maintains the standards race fans have come to expect, and that “scaling down the event would not do justice to the legacy Sarasota has built over the years.” “We are incredibly grateful for the many years of support and partnership from Visit Sarasota, who has been instrumental in the event’s long-standing success as a presenting sponsor,” Covington said. “Because of this support, Sarasota has become a premier destination in offshore racing, and we deeply value everything Visit Sarasota has contributed, making this an iconic event for the community and a highlight of the race season.” Sarasota Powerboat Grand Prix held its 40th anniversary event last year, moving from its traditional Fourth of July weekend dates to mid-September. Reasons cited for the date change included driving more business to local retailers, hotels, and restaurants during the off-season and avoiding peak bird and turtle nesting season on local beaches. The nearby St. Petersburg Powerboat Grand Prix, which did not take place last year itself due to Hurricane Milton, is set to return Sept. 5-7, with other race venues to include New Orleans and Sheboygan, Wisconsin. There’s more to read here: Sarasota Powerboat Grand Prix Out In 2025.

SARASOTA DONORS STEP UP IN A BIG WAY

In the aftermath of devastating damage to the area from three back-to-back hurricanes, donors big and small have stepped forward to give nearly $9 million to two funds at the Community Foundation of Sarasota County (CFSC) – an astonishing amount raised in just eight weeks. More than half of that – or a historic $4.9 million – has poured in for Season of Sharing, a fund that helps families in crisis in Sarasota, Manatee, DeSoto, and Charlotte counties with housing, childcare, utilities, or car repairs. Another $3.8 million has been donated to the Suncoast Disaster Recovery Fund to support nonprofits that address community needs long after disasters strike. CFSC leaders say that while the huge amount of donations is promising, the unprecedented need left in the wake of the storms threatens to outpace available resources. “This generosity is creating hope in a time of deep devastation for so many families living here, and it’s clear that it will be a long path back to ‘normal’ for many,” said Roxie Jerde, president and CEO of CFSC. “We are heartened by our community’s caring spirit and are grateful for the charitable givers who have already donated, along with those planning to include this worthy cause in their year-end giving.” All gifts to Season of Sharing donated by Jan. 31, 2025, will be eligible for a match – The Patterson Foundation contributes $100,000 for every $500,000 raised by the community. While typically the dollars raised for Season of Sharing during the annual November-January campaign are set aside to be distributed throughout the year after the campaign ends, this year almost $1 million was needed immediately due to the tremendous impact of the storms. There’s more to read here: Donors Step Up For Season Of Sharing.