GSP Development's Saravela Redefines Ownership in Sarasota's Luxury Condo Market

• GSP Development is bringing Saravela to 430 N Tamiami Trl, Sarasota, FL 34236, a 19-story luxury condominium tower offering 282 fully furnished residences and 11 two-story townhomes with built-in short-term rental flexibility, starting from the $900,000s.
• Chicago-based GSP Development is delivering the project with architecture by Tampa-based Kimmich Smith Architecture and interiors by ID & Design International, with delivery expected in 2029 and sales led by Premier Sotheby's International Realty.
• Saravela marks a first for downtown Sarasota's luxury condo market, introducing a professionally managed rental program that allows owners to generate income from their residence without the restrictions typical of most condominium buildings.

A New Kind of Ownership in Downtown Sarasota

Saravela is introducing something that hasn't existed in downtown Sarasota's luxury condominium market before: full ownership paired with the freedom to place a residence into a short-term rental program. Rising at 430 N Tamiami Trl just blocks from Sarasota Bay, the 19-story tower will deliver 282 fully furnished residences alongside 11 two-story townhomes, all eligible for a professionally managed rental program that allows owners to generate income when not in residence. The development's 1.7-acre site spans two zoning districts, with the building stepping from 19 stories on the Downtown Bayfront side to 11 stories in the Downtown Core, placing it within walking distance of The Quay, Sarasota's Bay Park, performing arts venues and St. Armands Circle.

 

GSP Development and the Project Team

Chicago-based GSP Development is behind the project, bringing together a design team with strong Florida roots. Kimmich Smith Architecture, based in Tampa, is serving as the architect of record, while ID & Design International is handling interiors. Each turnkey residence comes curated with furnishings by designer Steven G., featuring 12-foot ceilings, floor-to-ceiling glass, expansive terraces and Italian cabinetry for a modern coastal aesthetic. United Landmark Associates is leading marketing efforts, with Premier Sotheby's International Realty managing sales. As a limited-time incentive, GSP Development is offering buyers 6% of the contractual purchase price annually for 2 years, with HOA fees and property taxes covered by the developer over the same period.

Amenities Across Six Dedicated Levels

Saravela's amenity program spans more than 47,000 square feet of indoor and outdoor space across six dedicated levels. Two rooftop pools overlooking Sarasota Bay anchor the outdoor experience, joined by rooftop firepits, spa and wellness facilities, hot and cold plunge pools, saunas and yoga rooms. Fitness studios, a golf simulator, putting green, bocce court, a Kids' Club with duckpin bowling, game lounges, and co-working spaces round out the programming. Daily life is further supported by concierge services, valet, optional housekeeping, grocery delivery, and 24-hour security. Through a partnership with Heritage Golf, owners also receive a complimentary one-year preview sports membership at TPC Prestancia.

Retail, Residences, and What Comes Next

More than 11,000 square feet of ground-floor retail is planned to bring restaurants, cafés, and shops to the block, further activating Saravela's street presence in downtown Sarasota. Penthouses on the 19th floor offer sweeping views of Sarasota Bay, with residences priced from the $900,000s through the penthouse level. Delivery is expected in 2029. The project arrives at a moment when Sarasota's luxury market is evolving toward greater flexibility, and Saravela's combination of ownership, rental income potential, and resort-style amenities gives it a distinct position in the city's condominium landscape.