VW VillageA Residential Community

2211 Fruitville Rd, Sarasota, FL 34237

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Project Description

• 393 Residential Units

• 5 Separate Buildings

• Each Building is 6 Stories High

• Apartment Sizes from 350 Sq Ft /Efficiency

to 842 Sq Ft /3 Bedrooms

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Apartment Description

Apartment Type AreaEfficiency Apartment 350 sq.ft.

1 Bedroom Apartment 602 sq.ft.

2 Bedroom Apartment 715 sq.ft.

3 Bedroom Apartment 842 sq.ft.

Total - - - - - - - - - - - - - - - - -- - - - -

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242 Total Parking Spaces

Est. Rent (no car)

$650/month

$750/month

$850/month

$950/month

Unit Count122 units

95 units

146 units

30 units

393 units

Harvey Vengroff“One Stop Housing”

Affordable Housing in

Sarasota and Manatee Counties

• 1500+ Units Under Management• 25+ Years in Business

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One Stop Housing

Business Model

• No Govt. Subsidies

• No Section 8

Safe and Affordable“Work Force Housing”

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Social Service Agencies

• Salvation Army• Catholic Charities• Jewish Family & Children Services• SPARCC• Coalition for the Homeless• Trinity Without Borders

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Description of Current Operations

• Studios• 1-2-3 Bedroom Apartments• House / Townhomes For Rent

Rent from $600-$950Located from Venice to Palmetto

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Description of Current Communities

• Safe• Clean• Quiet• Pet Friendly

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Current Communities

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Current Communities

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VW VillageA Residential Community

2211 Fruitville Rd, Sarasota, FL 34237

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• Seeking Conversion from Urban Edge to Downtown Core

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• 7.9 Acres

• Currently: Urban Edge

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• Proposed Change to Downtown Core,

Density 50 Units/Acre

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• Exterior Stairs & Walkways

• Multiple Buildings to Create a Community15

Est. $650/Month (No Car)

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Est. $750/Month (No Car)

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Est. $850/Month (No Car)

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Est. $950/Month (No Car)

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Economics

Requires 393 Units for the Project to be Successful

Total Cost $20 Million

No Public Money – Direct to Tax Rolls

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Parking Mitigation60% of Tenants Will Not Own a Car• Local Services Available

• Adjacent to Downtown

• Van Service

• On Bus Route – Close to Terminal

• Bicycle Friendly

• Zip Car-like Operation Available

• Rent Reduced for Non-Car Owners

• 15 Minute Walk to Downtown23

Conclusion

No Alternatives

Ready to Start

Tremendous Need

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VW VillageA Residential Community

2211 Fruitville Rd, Sarasota, FL 34237

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