Lofts on Lemon Community Collaboration Set to Break Ground

January 8, 2021 – Sarasota

To commemorate the construction start of Lofts on Lemon, the Sarasota Housing Authority (SHA) will host a groundbreaking ceremony at 2 p.m. Wednesday, Jan. 13, at the development site located at 851 N. Lemon Ave.

This unique community development is unlike any housing project across the country. Designed to ensure downtown Sarasota has affordable and attainable workforce housing, it has received funding from a variety of private, community, business, and government financial support. The diverse team of funders include: the Florida Housing Finance Corporation, City of Sarasota, Charles & Margery Barancik Foundation, Community Foundation of Sarasota County, Bank of America, Freddie Mac, Walker & Dunlop, Sarasota Housing Authority and the U.S. Department of Housing & Urban Development (HUD). The development team consists of co-developers Sarasota Housing Authority and Fortis Development with design led by Sarasota based Hoyt Architects.

“Lofts on Lemon is a showcase of broad community support for affordable and workforce housing. For these two foundations and the City to partner with SHA on this type of community building investment is unique and makes a powerful statement about what Sarasota can achieve,” said SHA CEO William Russell.

The City of Sarasota is contributing $3 million in penny sales tax funds toward the Lofts on Lemon project.

“The City Commission is firmly committed to supporting housing that meets the needs of our growing city,” said Mayor Hagen Brody. “We’re especially thrilled that this project will help make attainable housing more accessible in downtown Sarasota for our ‘hometown heroes’ – the teachers, health care workers and first responders who serve our community every day.”

Construction of the $33 million Lofts on Lemon community is estimated for completion in mid-2022. When completed, it will feature 76 affordable and 52 attainable workforce units targeted for ‘hometown heroes.’ Funding from local philanthropic partners Barancik Foundation and the Community Foundation of Sarasota County will ensure professionals like teachers, firefighters, and nurses can reside in the community they serve.

“Chuck Barancik envisioned this project as an opportunity to care for the everyday heroes who care for us,” says Teri A Hansen, President/CEO of Barancik Foundation. “Events over the last year have solidified how essential these professionals are. We want them to know we are looking out for them, too.”

“Lofts on Lemon will ensure its residents will be able to reprioritize family budgets thanks to limitations on rent-to-income calculations, ultimately allowing families to improve their financial stability. This will have positive, long-term, generational impacts,” said Roxie Jerde, President and CEO of the Community Foundation of Sarasota County. “Our board is guided by our values, and through innovative ways is funding opportunities to achieve social and financial returns.”

Established in 1938, SHA provides affordable housing to over 2,100 families in Sarasota and administers an annual budget over $20 million with a team of 34 professionals. Lofts on Lemon represents the sixth significant housing redevelopment SHA has undertaken in the last twelve years.