Developers Submit Revised Lumora Plans for Sarasota

The new design for the downtown site replaces a two-tower project with a single 10-story luxury condominium building.

Updated on Oct. 21, 2026 in Apartments

Bold vector editorial illustration of a modern 10-story condominium building model on a pedestal, representing local urban development shifts. — Developers in Sarasota have submitted a revised proposal for the Lumora project, scaling back to a single 10-story luxury condominium building. AI Illustration. Upload story photo >

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Developers recently submitted a revised proposal for the Lumora project in downtown Sarasota. The updated plan replaces a previously proposed development known as the Adagio with a single 10-story building.

Why it matters

The revision comes following local controversy regarding the height of the previously proposed towers. By transitioning to the city's bonus density program, developers have shifted the project scope away from earlier plans.

The 2.2-acre site is valued at $5.6 million and will accommodate 169 luxury condominiums alongside 32,740 square feet of retail and office space. The design includes parking for 562 vehicles.

The players

Sarasota Development Review Committee

This local government body is responsible for evaluating and approving urban development proposals within the city.

The details

The project represents a significant reduction in affordable housing, offering 88% fewer units than the original Adagio proposal. Developers adjusted the plans to move from the Live Local Act to the city's own bonus density program.

Developers submitted the new plans to the committee on October 7, 2026.
In 2024, the median income in Sarasota was $83,367.

Culture Shift

The shift away from the Florida Live Local Act reflects a broader move by local developers to navigate city-specific housing density programs. This transition highlights the tension between maximizing luxury floor space and meeting municipal affordable housing goals.

Residents may see fewer attainable rental housing options brought to the downtown area as the project shifts toward luxury condominiums. Commuters and locals should monitor the site at Palm Avenue and Ringling Boulevard as the approval process progresses.

The takeaway

The move to replace the two-tower Adagio project with a 10-story design highlights how local height concerns can fundamentally alter urban housing density. Prospective renters should keep in mind that downtown Sarasota rent prices and median incomes remain a key factor in residential project feasibility.