Sarasota Square Redevelopment Moves Forward in Florida

• Torburn Partners and Jamestown are redeveloping the former Sarasota Square Mall into a large mixed-use project.
• The redevelopment will include 1,200 residential units and more than 530,000 square feet of retail, dining, and office space.
• Woodfield Development is set to begin construction on a 360-unit apartment community this summer.

What the Sarasota Square Redevelopment Includes

A major transformation is underway in Sarasota as developers move forward with Sarasota Square, the mixed-use redevelopment of the former Sarasota Square Mall property. The nearly 100-acre site sits at the intersection of South Tamiami Trail and Beneva Road and is being repositioned into a large-scale mixed-use district featuring residential, retail, dining, and office space. Torburn Partners and Jamestown are leading the redevelopment following the mall’s closure in December 2024. The original Sarasota Square Mall first opened in 1977 before eventually shutting down amid broader changes in retail demand. Once fully built out, Sarasota Square is expected to include approximately 530,000 square feet of commercial space and 1,200 residential units.

What the First Phase Will Bring

Phase I of the project is expected to deliver in the first quarter of 2027 and will introduce roughly 90,000 square feet of retail space. The first phase is already 88 percent preleased, with tenants including Whole Foods Market, HomeSense, Charles Schwab, CAVA, Joe & the Juice, and Chipotle Mexican Grill. The early leasing activity reflects continued demand for open-air retail centers and mixed-use environments anchored by grocery, dining, and service-oriented tenants.

What the Residential Component Means for Sarasota

Housing will play a major role in the redevelopment strategy. Woodfield Development is expected to break ground this summer on a 360-unit apartment community within the project, marking the first residential phase tied to the redevelopment. Developers across Florida continue repositioning aging malls into mixed-use districts that combine residential density with retail and entertainment uses. These projects are increasingly viewed as long-term solutions for underperforming retail sites in fast-growing suburban markets.

What This Says About Mall Redevelopment Trends

Sarasota Square reflects a broader national trend where former enclosed malls are being redeveloped into walkable mixed-use communities. Developers are replacing traditional retail-heavy layouts with residential units, outdoor dining, office space, fitness concepts, and experiential retail aimed at creating all-day activity rather than relying solely on shopping traffic. Florida has become one of the more active states for mall redevelopments because of population growth, housing demand, and continued migration into suburban Sun Belt markets.

What the Project Could Mean for Sarasota

The redevelopment could significantly reshape this portion of Sarasota over the next several years by introducing new housing, expanded retail options, and a more modern mixed-use environment. As additional phases move forward through 2028 and beyond, Sarasota Square is expected to become one of the region’s larger redevelopment projects tied to Florida’s ongoing growth wave.