Date: June 20, 2013
by: Roger Drouin | City Editor
Preliminary plans call for the tower fronting Palm Avenue to move back 32-feet to make space for a grand oak. Roger Drouin
A two-tower hotel and apartment development planned for a vacant parcel of prime downtown land moved ahead June 12.
In a 3-1 vote, the Sarasota Planning Board approved three adjustments for the development, called One Palm, proposed at the corner of Ringling Boulevard and Palm Avenue. The one-acre portion of that property has remained undeveloped since 1986.
One Palm developers Dennis McGillicuddy, a private investor, and John Meshad, of JWM Management Inc., are partnering with iStar financial, a New-York-City-based real-estate investment trust that owns the property at 240 S. Pineapple Ave., in a joint venture to develop the hotel and apartments, McGillicuddy said.
The developers must now seek approval through either a site plan or building permit application. Both processes require city staff approval.
After the June 12 meeting, McGillicuddy highlighted de