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Sarasota firm buys property for Skyway Marina senior living project

Margie Manning

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A conceptual rendering of the senior living community planned in the Skyway Marina District. File photo.

A Sarasota-based senior housing company has joined forces with a local developer planning a lifestyle-driven active senior living community in the Skyway Marina District.

The community is expected to  include both independent living and assisted living components, said Jack Dougherty, the local developer and owner of the former Flamingo Resort. Dougherty is working with LifeStar Living, a senior living development services, marketing, management, and advisory company in Sarasota.

Orange Belt Holdings, an entity associated with LifeStar Living, bought the property on which the project will be located from Dougherty on April 30. Pinellas County property records show Orange Belt bought two parcels, at 4401 34th St. S. and 4537 4th St. S., for $9 million.

 

Dougherty had purchased the property in October for $5.7 million. It’s just north of Marina Walk, a 245-unit waterfront apartment complex that Dougherty is building on the site where the Flamingo used to be located.

The project will be known as The Manhattan-St. Petersburg, a spokeswoman for LifeStar Living said. While it won’t be formally unveiled until the summer, the spokeswoman shared some details, including:

  • The $125 million-plus project be a two-phase membership-based residential living community with boutique healthcare exclusively for its members
  • The development will include condo-style homes with modern coastal finishes.  The first phase will have over 80 homes ranging from 1,050 square feet to 2,600 square feet.
  • LifeStar has a strategic relationship with The Greenhouse Project, an organization that seeks to radically transform senior housing models by partnering with providers and developers to revolutionize care and empower the lives of people who live and work in long-term and post-acute care.
  • The project’s sponsor involves co-founder of LifeStar, David Falk, who is an American sports agent best known for representing Michael Jordan. In total, Falk represented more than 100 other NBA players.  Falk co-founded LifeStar with Joel Anderson, president and CEO of LifeStar Living. Anderson has spent more than 25 years directing both for-profit and not-for-profit senior living organizations that specialize in large active adult campuses offering a full suite of care with home and community-based services.

Dougherty brought in LifeStar because the company is a “class act,” he said. LifeStar’s leadership team has worked on several developments in the senior living sector, including projects in The Villages and in Fort Myers.

“I thought they had a level of expertise and knowledge to make the project a winner all the way around. They had a layer I don’t have, which is experience in senior living,” Dougherty said.

The project will have about 154 units. About half of them will be independent living for seniors who can live on their own without any daily assistance, Dougherty said. The other units will be assisted living for seniors who need help with some daily tasks, he said.

There will be a retail component as well, Dougherty said. Construction probably will begin in about 12 months.

The Skyway Marina District has drawn a lot of development interest in the past several years. There are four multifamily apartment projects underway in the Skyway Marina District — Dougherty’s Marina Walk, Phillips Development’s 296-unit Sur Club, ContraVest’s Addison with 308 units, and SkyWay Lofts, a 65-unit affordable housing project from Blue Sky Communities.

Dougherty, a longtime leader in the Skyway Marina District, expects development to continue.

“The city of St. Pete is on a peninsula. It cannot continue to grow out. The areas of the city that are the most desirable, that are close to the water and to the beach, are the most popular and will increase in value the most,” Dougherty said. “Not only is Skyway Marina District close to the water and the beach, but it is also close to the vibrant downtown area. It has all those things going for it. I’m very encouraged it will continue on that same trajectory.”

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2 Comments

2 Comments

  1. Avatar

    Christine Bennett

    May 7, 2021at12:35 pm

    The article talks of living space sizes, assisted and non assisted living arrangements, the price paid for the property, the cost of building the establishment but NOWHERE did it list approximate price of said units.

    The average retired person gets around $1500/mo for rent, utilities and food. So, so tell, who these units will really be for. Who can afford them.

  2. Avatar

    Donna

    June 6, 2021at1:48 pm

    Totally agree

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