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$1B MXD Project Aims for 2010 Completion

SARASOTA, FL-Proscenium's developer says 300,000-sf office component is on track with others.

By Carl Cronan | Updated on April 10, 2008

(Carl Cronan is editor of Real Estate Florida.)

SARASOTA, FL-An ambitious mixed-use project that will include Downtown Sarasota’s largest office building and a Waldorf-Astoria luxury hotel is on track to begin construction later this year, according to its developer. The Proscenium is scheduled for completion by the end of 2010.

Gary Moyer, president of Lion’s Gate Development, says he expects construction on all of Proscenium’s components, including two landmark 18-story towers, to begin simultaneously. He expects entitlements on the six-acre property in Downtown Sarasota to be in place this summer, after which demolition of existing properties there can begin.

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