SARASOTA, FLA. — Developer Allen Morris Co. has secured a $43 million construction loan to develop Bayside North, the second phase of the $250 million Bayside project in Sarasota. Affinius Capital and Axonic Capital provided the financing. Bayside North will include a seven-story, 96-unit building with one-, two- and three-bedroom floor plans. Fifteen units are classified as workforce housing. Rent restrictions were not disclosed.
The property will feature a top-floor clubhouse with views of Sarasota Bay. Ground-floor amenities include a pickleball court and a 3,000-square-foot restaurant. The broader Bayside community includes 50,000 additional square feet of amenities, such as a resort-style pool, courtyards and integrated food and beverage programming. Bayside’s first phase includes 254 units that are currently under construction, with completion slated for April 2027. A Phase II timeline was not disclosed.