A high-profile trial
involving a luxury condominium in downtown Sarasota
concluded on Wednesday with a decision expected in the
coming months that could determine who owns the air rights
in the development known as The Quay.
That matters because
the condo board for the Ritz-Carlton Residences — a
developed block in the 14.7-acre waterfront district on
Sarasota Bay — has opposed a new project called One Park
Sarasota after the developers sought to build condo units
above the main private road running through the center of
the development.
The Ritz-Carlton residents' arguments center on covenants in
a master declaration that applies to all owners in The Quay
requiring the developer to turn over common areas to a
master association that represented all the owners in The
Quay. That would include the air rights over Quay Commons,
which would mean the One Park Sarasota condominiums could
not be built as currently designed, even as the project has
sold at least 60% of its units.
The developers of the Quay and One Park Sarasota have argued
the air rights over Quay Commons were never part of the
common elements in the project and that common areas have
not been transferred to the master association because they
are not yet developed.
Quay 1 and 9 LLC, the developer of One Park Sarasota,
brought the legal action leading to the trial after a
Sarasota city attorney sent a letter indicating the
project's development application needed to resolve the
conflict with the Ritz-Carlton's condo board, setting off
costly legal jockeying. |
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This rendering of One Park Sarasota shows an aerial
of the development site looking over The Bay Park. A police probe
was launched in April after a meeting between a One Park partner and
a planning board member.
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The five-day trial saw
more than 400 exhibits entered into evidence, thousands of
pages of documents and six law firms representing the
various parties.