1923 5TH STREET, Sarasota, FL 34236

Property Description

The Velocity Project presents an exceptional opportunity to acquire a shovel-ready luxury condominium development in Sarasota’s rapidly growing Gillespie Park neighborhood. This offering is structured as a true turnkey investment, with the sale including complete architectural drawings, technical reports, cost analyses, and all supporting materials needed for a smooth development process. With Development Review Committee approvals already secured and permits projected within approximately six weeks, the project is positioned for an expedited construction start. The approved design, created by the acclaimed Solstice Architecture Firm, reflects an aesthetic influenced by the coastal architecture of Spain and Portugal. The development plans call for six generously sized residences designed with high-end finishes, modern layouts, and upscale amenities that appeal to today’s luxury buyers. Situated on a quarter-acre site with Downtown Edge (DTE) zoning, the property benefits from a location within one of Sarasota’s most dynamic and evolving districts. Gillespie Park continues to attract strong buyer interest and investment, supported by a lively environment of local shops, dining destinations, and a diverse mix of architectural character. This is a rare chance to move forward with a fully entitled project while avoiding the lengthy planning stages. Reach out today to obtain detailed project information, financial data, construction estimates, approved plans, and to arrange a site visit.

Listing Status:

Active

Date Added:

February 17, 2026

Data Last Updated:

March 29, 2026 at 12:21AM

Listing Office:

KONA REALTY : 941-718-8293

Listing Agent:

Vlado Konatar : 941-718-8293

MLS ID:

A4682868

Location

• Road/Access: Paved
• Originating MLS: Stellar MLS
• County: Sarasota

Lot

• Zoning: DTELOTS 16 18 20 & 22 BLK 3 INWOOD PARK 1ST ADD2026090007
• Current Use: Residential

Utilities

• Utilities: Other
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Stellar MLS
• Ownership: Fee Simple