GSP Development, a Chicago-based real estate firm with a portfolio spanning luxury multifamily, office, and retail properties in major metropolitan markets, today announced the debut of Saravela, a transformative new residential community rising in the heart of Sarasota. Saravela will redefine downtown living with 282 luxury condominiums, including 11 townhomes, and prime retail space — all while offering owners a first-of-its-kind option to rent their residences for as few as three days or longer. This unprecedented flexibility creates an opportunity for owners to enjoy Sarasota living while helping to offset ownership expenses.
“Saravela represents the next evolution of Sarasota living,” said Larry Debb, Founder and President of GSP Development. “From striking architecture and elevated residences to resort-style amenities and flexible rental opportunities for owners, we are delivering a sophisticated, energetic community that embodies the new Sarasota style — luxurious, convenient, and fun.”
Presentation Gallery Opening Soon
The development team plans to open the presentation gallery and launch the reservation phase of Saravela in the coming days — led by Premier Sotheby’s International Realty — before moving into the contract phase in early 2026. When complete, Saravela will occupy a premier location along North Tamiami Trail between 4th Street and 5th Street in the heart of Downtown Sarasota, just steps from the area’s finest restaurants, shops, and entertainment.
A Unique Offering in the Sarasota Market
Saravela stands apart in Sarasota with exceptional pricing, flexible rental options for owners, unmatched amenities, and services that bring all the best of Sarasota to your doorstep. Thoughtfully designed layouts maximize space and light, allowing pricing to start under $1 million — creating a new luxury offering without sacrificing high-end finishes.
Unlike other new high-rise properties in downtown Sarasota, Saravela provides owners with the unique option to offer their units for rent for three days or longer. Owners who choose to participate in the rental program have the opportunity to help offset ownership expenses, while a professional on-site management team oversees every detail — ensuring effortless ownership and an exceptional experience for both owners and guests.
Designed by Kimmich Smith Architecture with interiors by ID & Design International, Saravela’s bold 18-story tower features sleek modern lines with coastal curves. Every residence will epitomize luxury, offering top-of-the-line finishes and fixtures, integrated smart home technology, and turnkey, fully furnished interiors created by Interiors by Steven G. Inc. Refined features include Italian cabinetry by Aster Cucine, floor-to-ceiling windows, glass-lined terraces, and flow-through layouts with soaring ceilings.
Amenities Above the Rest
With three rooftop amenity decks and six levels of indoor and outdoor experiences, Saravela offers the most comprehensive amenity package in the market, featuring 47,000 square feet of resort-style spaces designed for wellness, entertainment, and convenience.
- Wellness & Relaxation: Two rooftop pools, multiple hot tubs, dual fitness centers, yoga and fitness-on-demand rooms. Spa amenities including sauna, cold plunge, and by-appointment massage services.
- Social & Entertainment: Sophisticated clubrooms with bar areas, a private dining room and catering kitchen, outdoor bar with bartender service, grilling stations, fire pits, lounge spaces, an outdoor movie lawn, bocce court, putting green, and poolside food and drink service provided by the gourmet market.
- Family & Recreation: A dedicated Kids Club with attendant, arcade, duckpin bowling, game room, kids’ splash pad, golf simulator, and multiple pet-friendly features including a dog play area, indoor dog run, and dog wash.
- Resident Convenience: A co-working floor with private offices and a conference room, 24/7 on-site management, temperature-controlled storage, smart building access, and a package room with refrigerated storage. Residents will also enjoy complimentary private shuttle service (“jitney”) to St. Armands Circle and Lido Beach.
- Personal Services: Personal service is a way of life at Saravela, with concierge attending to owners and guests, optional housekeeping, grocery delivery, and additional à la carte services. Saravela also provides 24/7 security and maintenance services, offering peace of mind whether owners are on site or away.
Situated between the dynamic Rosemary District and the Downtown Bayfront, Saravela offers a truly walkable lifestyle — steps from acclaimed restaurants, boutique shopping, cultural institutions, Sarasota Bay, and The Quay.
Premier Sotheby’s International Realty has been appointed as the exclusive representative for Saravela. Discover Saravela today — visit Saravela.com or call 941-203-5383.
