The Commercial Real Estate Alpha Site

Development on the North Trail will set the tone for affordable housing with a market rate lifestyle.

By Andrew Warfield via Business Observer
 

Bottom Line

Key takeaway. A partnership between St. Petersburg-based Blue Sky Communities and Community Assisted & Supported Living (CASL) of Sarasota is building an affordable and attainable apartment project north of downtown Sarasota. 

Core challenge. While significant, the 96-unit project will only be a small dent in the big need for affordable housing in Sarasota. 

What’s next. Construction of the project, dubbed New Trail Plaza, is underway. 

By the end of 2025, 96 new affordable and attainable apartments, with the look and feel of a market-rate development, will be available when New Trail Plaza opens for occupancy.

New Trail Plaza is a joint project of St. Petersburg-based Blue Sky Communities and Community Assisted & Supported Living (CASL) of Sarasota. The development will be built on 3.5 of 6.2 acres acquired from Sarasota County along North Tamiami Trail between 46th and 47th streets. For now, Blue Sky Communities has no plans for the remaining 2.7 acres east of the development.

This story originally appeared in the the Sarasota Observer, sister paper of the Business Observer.