The growth in the Rosemary District has been particularly remarkable due to a recent city initiated overlay district, which tripled residential density. This area has gone from a blip on the map to a desirable destination with nearly 800 apartments under construction.

Grewal: These developments are attracting a lot more Millennials to the area, and in turn, restaurants and boutiques where they can dine and shop. What's interesting is the walkability of the downtown area is also attracting a number of retirees who are looking to downsize and lead a more active lifestyle.

The area has really developed into a true urban core with developers and residents taking notice of the shift. A changing demographic drives diversity and creates opportunities.

GlobeSt.com: Where do you think the Sarasota market will be in five years?

Black: I think there will be a natural cyclical leveling of the market over the next year or so. However, because these investments and developments are well financed, we believe they will withstand typical market variances. If the growth in the Rosemary District is any indication of what's to come in Sarasota, we have an exciting future in store for us.

Marsh: U.S. News and World Report recently named Sarasota the third Best Place People are Moving in the US; Tampa was ranked eighteenth, Miami 10^th and Orlando fifth. I think this speaks to the level of interest in our city and the growth that we are experiencing—and will continue to see.

MIAMI—Sarasota is fast becoming a darling on Florida's residential and commercial real estate scene. National investors and companies are moving to the arts town and a tertiary market is rising.

GlobeSt.com caught up with some of the partners of Ian Black Real, including Ian Black, Jag Grewal and Marci Marsh, to get some perspective in part two of this exclusive interview. You can still read part one: This Florida Market Seeing a Perfect Storm.

GlobeSt.com: Are there any new trends that you're seeing in the market?

Black: I think what's really remarkable is the number of multifamily units that are being developed. A year ago, Downtown Sarasota had zero multifamily available for lease and now we have over 1,000 units going live in the next year.

The growth in the Rosemary District has been particularly remarkable due to a recent city initiated overlay district, which tripled residential density. This area has gone from a blip on the map to a desirable destination with nearly 800 apartments under construction.

Grewal: These developments are attracting a lot more Millennials to the area, and in turn, restaurants and boutiques where they can dine and shop. What's interesting is the walkability of the downtown area is also attracting a number of retirees who are looking to downsize and lead a more active lifestyle.

The area has really developed into a true urban core with developers and residents taking notice of the shift. A changing demographic drives diversity and creates opportunities.

GlobeSt.com: Where do you think the Sarasota market will be in five years?

Black: I think there will be a natural cyclical leveling of the market over the next year or so. However, because these investments and developments are well financed, we believe they will withstand typical market variances. If the growth in the Rosemary District is any indication of what's to come in Sarasota, we have an exciting future in store for us.

Marsh: U.S. News and World Report recently named Sarasota the third Best Place People are Moving in the US; Tampa was ranked eighteenth, Miami 10^th and Orlando fifth. I think this speaks to the level of interest in our city and the growth that we are experiencing—and will continue to see.