Monday, July 17, 2006
Valencia will be unique, Paradise partner says
Mike McCanless is a partner in Paradise Communities, a Safety Harbor-based development firm and a division of Paradise Development Group.
A native of St. Petersburg, McCanless has worked for Paradise for the past four years. The company, which previously renovated the Paradise Plaza shopping center at Osprey Avenue and Bay Road, is now developing the $30 million Valencia at Burns Square, an upscale residential project at 635 S. Orange Ave. Valencia, being designed by local architectural firm DSDG Inc., will contain eight townhomes and 16 condominium units.
McCanless spoke recently with staff writer Kevin McQuaid about the project.
Q: What attracted Paradise to the Orange Avenue property?
A: Paradise decided some time ago to place a focus on downtown Sarasota, and when I came to look around the city, I thought it was such a cool spot. It's part of downtown, but it's also more neighborhood-like, more intimate, and personally, I'm a sucker for historic areas and houses. I saw in Burns Court how the cinema was hidden and I thought it was really special.
My job is basically sight selection, so I tend to look for buildings that no longer fit into an area or are rundown or have deferred maintenance. So my initial attraction was the charm of the neighborhood. Everyone was putting up high-rises in town, but this was such a unique niche within downtown, and with only 24 units, of medium to low density, you often don't find that.
Q: What amenities or other benefits will Valencia offer that others won't?
A: Valencia's main amenity will be its proximity to movies, restaurants, shopping in Burns Square, that are all close by. Plus, Selby Gardens is right there, it's fairly close to the marina, along with the feeling of uniqueness of living in a smaller, more boutique project.
Because our site is so tight, we won't have a fitness center, but we will have a plunge spa and a Viking outdoor kitchen, so Valencia will be set for entertaining. We feel the person who lives there will be someone who appreciates a more laidback lifestyle than in the downtown core.
Q: Valencia's units are going to be priced from $900,000 to $1.5 million. Given the current cooling in the upper-end residential market, are you concerned?
A: With 24 units, we think we'll find people that want the ability to live in a boutique project. And there's not a lot of inventory in our price range. Compared to the other price points, we're in a rather small percentage of availability.
Q: Valencia's units, with between 2,200 square feet and 2,500 square feet under air, are going to be somewhat larger than many in the market? Why?
A: When Valencia was originally conceived, we sat down with our agent, Sky Sotheby's, and discussed size of units. Then we went through a series of focus groups with them, about a year ago or longer. What we found was what was sitting around were larger units, of 3,000 square feet priced between $1.5 million and $2.5 million. We wanted to give people enough space if they were downsizing from a single family home.
Also, we knew that with an efficient floor plan, with a lot of windows and natural lights, it would appear larger. Seventy percent of our units, in fact, have rooftop or outdoor terraces, because indoor-outdoor living at Valencia is going to be big deal. We're going to have more outdoor living space than any development planned.
We felt it was important to bring the outdoors inside, as an extension of the living space. That, together with higher ceilings, makes the unit feel bigger.
Q: What's your timetable for construction?
A: Sales are going on now. We're taking reservations at our sales center at 606 S. Pineapple Ave. We have three reservations now, and we're encouraged by that. We recognize that it's a slow part of the year, but we're preparing a series of events to spark interest and get our name out.
We hope to break ground in September or October of this year, and begin closings on our first units in January 2008.
Caption for photo:
Mike McCanless, a partner in Paradise Communities, says that $30 million Valencia at Burns Square development will offer proximity to downtown Sarasota's amenities in a boutique project. Units will be priced from $900,000 to $1.5 million. He hopes to break ground in September or October.
Source: Sarasota Herald Tribune