Tapestry Sarasota Breaks Ground: A 325-Unit Luxury Complex Redefining South Sarasota Living
Arlington Properties and Battery Global Advisors have launched construction on Tapestry Sarasota, a 325-unit luxury apartment community on 18.42 acres at 7914 S. Tamiami Trail, marking one of South Sarasota’s largest multifamily projects in over two decades. Scheduled for completion in early 2027, the development offers high-end amenities including resort-style pools, coworking spaces, and wellness centers. Adjacent to the site, developer Jeff Craft plans a 57-unit waterfront townhome community overlooking Little Sarasota Bay. The project signals growing investor confidence and revitalization in Sarasota’s southern corridor, blending coastal design with modern living and strengthening the area’s residential appeal.
Florida now permanently exempting sales tax on everything from batteries to bike helmets
Starting August 1, 2025, Florida now offers a permanent sales tax exemption on items like batteries, bike helmets, sunscreen, generators, and life jackets. These were previously only tax-free during disaster-prep holidays. The change aims to boost year-round access to safety and emergency supplies, saving consumers over $160 million annually.
Driftwood Capital’s new luxury and lifestyle division will seek hotel deals domestically and overseas
Driftwood Capital has launched a new Driftwood Lifestyle & Luxury Division (DLLUX), focusing on managing, investing in, and developing luxury and lifestyle hotels and branded residences. Alinio Azevedo, former CEO of Aspen Hospitality, leads the division and is spearheading a dedicated investment fund targeting over $3 billion in assets across the U.S. and select international markets. At launch, DLLUX assumed oversight of 12 properties from Driftwood Hospitality Management, including The Scottsdale Resort & Spa and Hotel Rumbao in San Juan. The initiative aligns with evolving travel trends favoring immersive, bespoke experiences and aims to meet the growing demand from affluent travelers seeking high-end accommodations.
This bid for one of Boston’s largest office towers shows how the value hits keep coming
The One Lincoln St. office tower in Boston was sold for $400 million at a foreclosure auction, a sharp decline from its $1 billion valuation in 2022. The building’s previous owner, Fortis Property Group, struggled with high vacancy rates after losing State Street Corp. as a tenant. Despite attempts to lease space, including a deal with HarbourVest Partners, the tower remains less than half leased. This sale reflects a broader trend of declining office building values nationwide, as vacancy rates rise due to shifts in work patterns post-pandemic. The new owners, BDT Capital Partners and DivcoWest, plan to capitalize on recent renovations aimed at attracting tenants.