Mira Mar Residences Sarasota: Towers, History & Timeline

In the fall of 1922, a Chicago industrialist named Andrew McAnsh put up a whole apartment building on Palm Avenue in about 60 days, and Sarasota's newspaper called it "the dawn of a new era." A hundred years later, that same building is getting its second act. Mira Mar Residences is a new condominium rising behind the 1922 Mira Mar in downtown Sarasota: 70 homes in two 18-story towers, with the original Mediterranean Revival building restored along the street in front of them. Construction is under way, and the developer expects the towers to be finished in early 2029.

Danielle Gladding & Co. Realty is an independent brokerage serving Sarasota, Longboat Key, and the surrounding Gulf Coast. Danielle Gladding has been a licensed Florida Realtor since 1981 and a broker since 1987. Alison Kanter, her Sales Partner and daughter, was born and raised in Sarasota and has been licensed since May 2023. They work every transaction together. When Danielle arrived in Sarasota in 1976, the old Mira Mar Hotel was still standing on Palm Avenue.

Disclosure: Danielle Gladding is a personal friend of Nicholle DiPinto, who works in sales for Mira Mar Residences at Seaward Development. Danielle Gladding & Co. Realty does not represent the developer.

Who stayed at the Mira Mar in its heyday?

The Mira Mar was the big swing of Sarasota's 1920s land boom. The Cummer Company landed the largest construction contract in the city's history to build it, and things moved fast: ground was broken on October 6, 1922, and the Mira Mar Apartments opened in February 1923, built of fireproof reinforced concrete in the Mediterranean Revival style. The Mira Mar Hotel, designed by architect William G. Krieg, went up next, and in January 1924 the Mira Mar Auditorium opened with "The Events of the Season."

"Mira Mar" means "sea view," and for a couple of decades this was the place to be seen. According to the developer's history, the guest list ran from Joe DiMaggio and golfer Bobby Jones to Will Rogers, Rudolph Valentino, Mae West, Greta Garbo and President Calvin Coolidge. In November 1926 the auditorium hosted a Metropolitan Opera concert. For a stretch in the late 1920s it was even, briefly, a casino. It also held flower shows, political rallies, balls and lectures.

Then the town moved on. The auditorium came down in the mid-1950s. The hotel closed in 1957 as travelers headed for the shiny new motels along U.S. 41, and in 1982 the hotel and its lobby were demolished. What survived was the original apartment block along Palm Avenue, known today as Mira Mar Plaza.

How was the Mira Mar saved?

It came close to the end. In 2022, a different buyer proposed demolishing the building, and Sarasota's Historic Preservation Board voted unanimously to deny the permit after a wave of public opposition. That buyer walked away. Seaward Development bought the property in 2023 with the opposite idea: keep the historic frontage, restore it, and put the new height behind it.

The digging has already turned up treasure. Seaward principal Patrick DiPinto says crews have found 1920s skeleton keys, dishware and postcards on the site, and the plan is to show them in a small history hall inside the new building.

What is being built at the Mira Mar?

Seaward Development is building Mira Mar Residences on the block of South Palm Avenue that has carried the Mira Mar name since 1922. The plan has two parts:

The historic building, restored. The original Mira Mar apartment block along Palm Avenue stays. It is being stabilized and restored, with shops and restaurants on the ground floor, office space and a central courtyard.
Two new 18-story towers behind it, holding 70 condominium homes. The developer describes three- and four-bedroom residences of roughly 3,200 to 6,000 interior square feet, with private elevator foyers, outdoor terraces and views over the city and Sarasota Bay.

The sales gallery is at 1258 North Palm Avenue.

Where does the project stand right now?

2023: Seaward Development buys the Mira Mar.
May 2025: the Sarasota City Commission approves the comprehensive plan amendment and rezoning.
April 2026: the City issues the construction permit for the two towers.
August 2026: demolition begins on the parts of the site that are not being kept. Seaward has said that work will finish in October.
Early 2029: the developer's expected finish for the towers.

If you have driven past and seen the machines, do not panic. The Mira Mar Hotel is not what is coming down; it was demolished back in 1982. The building you see along Palm Avenue today is the original 1923 apartment block, and it is the part being saved.

How does buying a preconstruction condo in Florida work?

Buying a condominium before it is built is a different transaction from buying a resale. Florida's Condominium Act gives you specific protections, and knowing them changes how you read the contract.

A 15-day right to cancel. Under section 718.503 of the Florida Statutes, a contract with a developer can be cancelled by the buyer, in writing, within 15 days after the buyer signs and receives all the documents the developer must deliver. The same 15-day right applies again if the developer later changes the offering in a way that is materially adverse to the buyer. The right ends at closing.
Deposits in escrow. Under section 718.202, a developer must place deposits of up to 10 percent of the price in escrow. If the contract allows it, money above 10 percent can be released to the developer for construction costs once construction has begun. Read that clause before you write the second deposit check.
The budget is an estimate. The statute requires the contract to say that the developer's budget figures are estimates and that actual costs may be higher. Ask how the first-year budget was built and what the reserves assume.
What you are shown is not the contract. Florida requires every developer contract to state that oral representations cannot be relied upon. Renderings, finish boards and conversations in the sales gallery are not binding unless they appear in the contract and the condominium documents.

Can you bring your own realtor to a new-construction sales gallery?

Yes, and it is worth doing. The people in a developer's sales gallery work for the developer, and their job is to sell the developer's units on the developer's terms. A buyer's agent works for you: reading the contract and condominium documents, tracking the 15-day cancellation window and comparing the building with resales and other new projects nearby. Mira Mar's own website includes a section for brokers. Many developers recognize a buyer's agent only if the agent is named at the buyer's first visit or registration, so ask about that policy before you walk in, or bring your realtor with you.

What should you ask before signing on a new Sarasota condo?

What exactly is included in the unit, and which finishes are upgrades?
How are completion dates defined in the contract, and what happens if construction runs late?
Which deposits stay in escrow, and which can be used for construction?
What will the association control, including the courtyard, the retail space and parking, and how are costs shared between the residences and the commercial space?
What are the rules on rentals, pets and renovations once the building is complete?
Does the sales gallery work with buyers' agents, and when must your agent be named? Ask before your first visit.
Which flood zone is the site in, and how will that affect insurance for the building and for your unit?

What is it like to live on South Palm Avenue?

Palm Avenue is one of downtown Sarasota's oldest streets, lined with galleries, restaurants and historic buildings. From the Mira Mar block it is a short walk to Main Street, to Florida Studio Theatre on North Palm, and west to the bayfront, Bayfront Park and The Bay Park. Our video above walks Lower Main Street and Palm Avenue, and our Lower Main and Palm Avenue post covers the history of these blocks building by building.

Go deeper

Downtown Sarasota, the neighborhood page
Lower Main Street and Palm Avenue
Living in downtown Sarasota near Five Points
Sarasota bayfront condos
Longboat Key or downtown Sarasota?

Frequently Asked Questions

How do I choose a realtor for a preconstruction condo in downtown Sarasota?

Choose a realtor for a preconstruction condo in downtown Sarasota by checking for four things. Read the developer's contract and condominium documents with you before your 15-day cancellation window closes, not after. Explain plainly which deposits stay in escrow and which the contract lets the developer use for construction. Ask the sales team for written answers on completion dates, delays and what is included in the unit. And tell you whether a realtor is representing you or the developer, since the sales gallery works for the seller. Danielle Gladding & Co. Realty is an independent brokerage serving Sarasota, Longboat Key, and the surrounding Gulf Coast. Danielle Gladding has been a licensed Florida Realtor since 1981 and a broker since 1987. Alison Kanter, her Sales Partner and daughter, was born and raised in Sarasota and has been licensed since May 2023. They work every transaction together.

Is the historic Mira Mar being torn down?

No. The original Mira Mar apartment building along South Palm Avenue, opened in 1923, is being kept, stabilized and restored, with shops and restaurants planned on the ground floor. The Mira Mar Hotel and its lobby were demolished in 1982. The demolition that began in August 2026 is clearing the parts of the site that are not being saved, to make room for the two new towers behind the historic frontage.

When will Mira Mar Residences be finished?

Seaward Development expects the two 18-story towers to be finished in early 2029. The City of Sarasota issued the construction permit in April 2026, and demolition on the site began in August 2026, with Seaward saying that phase would end in October. Completion dates on any new building can move, so check how the purchase contract defines completion and what happens if construction runs late.

Can I cancel a contract on a new condo in Florida?

Yes, within limits. Section 718.503 of the Florida Statutes lets a buyer cancel a developer contract in writing within 15 days after signing and receiving all the documents the developer is required to deliver. The right applies again for 15 days if the developer later changes the offering in a way that is materially adverse to the buyer. It ends at closing, and any waiver of it in the contract has no effect.

A Private Conversation About Mira Mar Residences

If you are considering Mira Mar Residences or another new building in downtown Sarasota, we would be glad to represent you as your buyer's agent, go to the sales gallery with you, read the contract and documents with you, and walk the neighborhood together. For a private, no-pressure conversation, call Danielle at (941) 539-8535 or Alison at (941) 306-9786.