Developer Team Obtains Construction Loan for Sarasota Condos

Centennial Bank has provided a $46.5 million construction loan to a joint venture between Jebco Ventures and Omnium Real Estate, to finance the development of The Edge Sarasota—a luxury 10-story condominium featuring 27 residences.

Located at 290 Cocoanut Ave., The Edge Sarasota will have private terraces and penthouse units offering 600-square-foot rooftop spaces. Situated on a .5-acre site, the property offers panoramic views of Sarasota Bay and the city skyline.

Residents of The Edge Sarasota amenities include a pool and spa, a fitness center, concierge services, and climate-controlled private garages. Additionally, the ground floor will feature a fine-dining restaurant.

Half of the condominium units have already been presold; with the total sellout projected at $109 million.