Siesta Promenade will be a first-class development that proudly serves the community at-large.

General Benefits of Mixed-Use Projects

  • Spurs revitalization & enhances vitality
  • Encourages high quality design by providing both greater flexibility and more control
  • Promotes a village-style mix of retail, restaurants, offices, civic uses, and multi-family housing
  • Provides more housing opportunities and choices
  • Increases affordable housing opportunities
  • Enhances an area’s unique identity and development potential (e.g., village centers, locations near bike
    paths, or “gateway” areas that announce a community’s strengths)
  • Promotes pedestrian & bicycle travel
  • Reduces auto dependency, roadway congestion, and air pollution by co-locating multiple destinations
  • Promotes a sense of community
  • Promotes a sense of place
  • Encourages economic investment
  • Promotes efficient use of land and infrastructure
  • Guides development toward established areas,
    protecting outlying rural areas and environmentally
    sensitive resources
  • Improves a municipality’s Commonwealth Capital score
  • Embodies “Smart Growth”

Siesta Promenade Community Benefits:

Tax Revenue: Siesta Promenade will generate more than $10 million in sales, real estate and TDT funding. The impact fees that Siesta Promenade will generate will be a significant additional one-time investment. This increase in tax revenue will help to reduce taxpayer burden by supporting critical taxpayer-funded services such as education, parks and infrastructure. That is an increase of 950% or 95 times the amount the property currently generates.

As a community becomes denser, municipalities gain more tax revenue per acre than before development. According to a report prepared by Smart Growth America, tax revenue can increase up to 10 times, on average, with the introduction of mixed-use development to a community.

Jobs: The current proposal will create over 250 new employment opportunities, including both full-time and part-time positions, in the retail and hospitality industries as well as more than 200 construction jobs.

Housing Affordability: Apartments and smaller units help overcome barriers to homeownership, and 15% of the residential units  above base density in Siesta Promenade will be designated as Affordable.

Hotel Demand: The hotel at Siesta Promenade will provide much needed accommodations to a market that has little to no vacancy. Home sharing services such as AirBnB are very strong as a result, but these create real headaches in truly residential areas. This redevelopment will help manage visitors to the area with a limited service hotel. Benderson Development’s hotel company, Buffalo Lodging, owns and operates nearly 50 hotels across the United States. This extension of the family business is the recipient of numerous accolades, including the 2017 Torchbearer Award, InterContinental Hotel Groups’ most prestigious award; The Radisson President’s Award for 6 consecutive years; Marriott’s Platinum Circle Award; Choice Hotels Gold Award; Hilton’s CEO Light and Warmth Award; Hilton’s Circle of Excellence Award.

This hotel will be an economic catalyst, generating approximately $350,000 in sales tax revenue as well as $250,000 annually in Tourist Development Tax revenue, which funds bonds issued by the County for projects such as the Legacy Bike Trail, the Bayfront and Spring Training facilities. Both hotel guests and residents at Siesta Promenade will become a new customer base for local businesses to attract.

Public Space: A significant amount of artfully designed and lushfully landscaped gathering spaces for friends and family will be incorporated into Siesta Promenade in the form of plazas, courtyards and promenades to enhance the public experience and act as an interface with commercial buildings. This public gathering space will be programmed with passive recreational uses including gardens, an art cart, Petanque, Chess & Backgammon, and elements such as shaded seating and water features will be incorporated within these areas.

Enhanced Connectivity & Streetscapes: Siesta Promenade’s smart design will focus on internal and external bike and pedestrian connectivity to connect the surrounding neighborhood to the project and the project to the neighborhood. An internally connected street grid will provide safe, efficient multimodal transportation. Shared lane pavement markings, known as sharrows, will be installed as part of this redevelopment to the following roadway segments:

  1. Hazelwood St. from Glencoe Ave. to Hollywood Blvd.
  2. Hollywood Blvd. from Hazelwood St. to Southwood St.
  3. Southwood St. from Hollywood Blvd. to Phillipi Estate Park (via Wildwood Ave.)
  4. Brentwood Ave. from Crestwood Ave. to Hollywood Blvd.
  5. Gulf Gate Dr. from US 41 to Gateway Ave.
  6. Midnight Pass Rd. from Stickney Point Rd. to Beach Access #12

Additionally, sidewalk gaps will be completed at the following locations:

  1. Hazelwood St. from Glencoe Ave. to Beechwood Ave.
  2. Southwood St. from Beechwood Ave. to Phillipi Estate Park (via Wildwood Ave).

Transit: The Siesta Promenade project will construct a bus stop as part of the development to be made available for a potential extension of the Siesta Key Breeze service area or for other SCAT bus routes connecting the project site with key local amenities. A shuttle service for Siesta Promenade residents and hotel guests will provide access to local beaches and nearby amenities to reduce vehicle trips on and off Siesta Key.

Traffic Improvements

Stickney Point Road and US 41 are both major corridors and define a commercial area that is sensitive relative to the unique quality and value of Siesta Key. As such, Benderson understands the importance of ensuring the project is compatible with the existing roadways to ensure safer, more efficient travel through the area. That is why several improvements are proposed to the road network following a detailed traffic analysis that has been thoroughly reviewed by FDOT and Sarasota County.

The intersections and roadways within the study area are expected to operate at acceptable LOS with the build-out year (2024) total traffic, with the following improvements:

  • Extension of the existing westbound merge lane to create a continuous westbound right turn lane along SR 72/Stickney Point Road from US 41 to Avenue B and C;
  • Installation of a traffic signal at the intersection of SR 72/Stickney Point Road & Avenue B and C;
  • Construction of an exclusive eastbound left-turn lane at SR 72/Stickney Point Road & Avenue B and C;
  • Construct a southbound to westbound right-turn lane from US 41 to Crestwood Avenue (based upon the availability of Right-of Way).
  • Realign Crestwood Avenue consistent with the Development Concept Plan
  • Extend the US 41 northbound dual left turn lanes to provide additional stacking.

Traffic calming improvements will be employed along adjacent residential, local streets based upon a collaborative process with the neighborhood administered by County Public Works Staff to determine the most appropriate traffic calming measures to preserve the cohesion and integrity of existing neighborhood environments and mitigate transportation impacts on the surrounding neighborhoods. Implementation of measures that the County determines are feasible will follow this public input process to address the speed and volume of traffic on local roadways within the surrounding neighborhood.

US 41:


Stickney Point Rd:


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