It’s not hyperbole to say that Sarasota is growing. But, you may not be aware of just how quickly our exciting Floridian city is transforming.
Sarasota Magazine recently wrote an expose about new developments and changes coming to the city. Here’s our take on some of the facts they presented:
Every day, new buildings and residential enclaves are sprouting up throughout the community. In the time since 2015, the city has given developers the green light for plans to construct 1,700 apartments, 1,400 condos, and 1,000 hotel rooms. In fact, city planners estimate that Sarasota’s population will expand by nearly 20% — about 11,000 more people over the next 12 years or so.
But why are so many people flocking to Sarasota? It isn’t hard to see why! This is, above all else, a phenomenal place to call home . Certain magazines like to call Sarasota one of “Florida’s best kept secrets.” Unparalleled arts and entertainment, fantastic culture, beautiful beaches, and gorgeous weather are among the many reasons retirees and homebuyers are choosing Sarasota to be their new home.
The Many Benefits of Living in Sarasota
Let’s talk about a few of those benefits we just mentioned. In addition to world-class entertainment (opera, ballet, the circus), Sarasota has a myriad of additional perks that are attracting homebuyers from all over the country.
One crucial element is the different tax benefits living in Florida presents.
In general, Florida has lower property taxes than most of the country and no state income tax.
Culture & More
When you think of Florida, the first thing that comes to mind is probably sandy beaches and plenty of sunshine. Well, you aren’t too far off. But, Sarasota has so much more than beautiful weather and gorgeous oceans.
Sarasota is home to an orchestra, ballet, opera house, cultural museums, live theaters, and so much more. Plus, it’s got a thriving college scene and an ever-growing technology industry.
A Retirement Destination
We’ve written about it before, but the U.S. News and World Report ranked Sarasota as the #1 place to retire to in the United States. This is a result of the benefits we mention above, and is one of the reasons the Sarasota population is expected to grow so much in the next few years.
More Growth is Coming
The projected growth for Sarasota over the next several years is a stark difference from the city’s history. From 1977 to 2017, the city only grew by about 4,000 people.
However, during some of the time new developments began springing up. One such community just east of I-75 is Lakewood Ranch, one of the area’s most successful master-planned communities. Neighborhoods such as this are popping up all over Sarasota County, bringing in more residents and providing a boom to the economy as well.
As the population of Sarasota, and Sarasota County, continues to grow, the economy is boosted with more jobs and increased spending. However, at the same time, such rapid growth is causing concern for some residents.
Top concerns for Sarasota include:
While housing prices have risen over the past several years, they still remain less expensive than affluent neighbors like Naples. According to Sarasota Magazine, the listing price for a home near the end of 2017 was around $334,000.
Many residents and professionals within Sarasota are worried about the lack of affordable housing opportunities for residents.
Florida is home to unique natural wonders, so it’s only natural that some residents are concerned about how new developments will affect it. Environmentalists work hard to ensure that proper regulations are enacted to preserve Florida’s natural lands.
Sarasota Remains a Fantastic Place to Call Home
Though it’s changing, Sarasota maintains the same excellent quality of life that makes residents proud to call it home. If you’re interested in a more in-depth look at how Sarasota is changing, please check out this article by Sarasota Magazine.
If you’re interested in calling Sarasota home, please reach out to us. We would love to connect you with home-buying resources, information about the area, and anything else you need. We want to help make Sarasota a wonderful home for residents of all ages.