Woodfield Development Secures Financing for Sarasota Square Apartments, Advancing Redevelopment of Former Sarasota Square Mall
355-unit multifamily community will anchor the residential component of Sarasota’s emerging mixed-use destination
SARASOTA, Fla. (June 25, 2026) – Woodfield Development, one of the nation’s top 20 developers of Class A multifamily communities, has secured construction financing for Sarasota Square Apartments, a 355-unit multifamily community within the redevelopment of the former Sarasota Square regional mall in Sarasota, Florida. Groundbreaking is expected in the coming weeks.
The financing milestone advances the next phase of the nearly 100-acre Sarasota Square redevelopment, a mixed-use project being led by Torburn Partners that will introduce a walkable mix of residential, retail, dining, office, and entertainment uses to one of Sarasota County’s most prominent commercial corridors. Sarasota Square Apartments is financed by PNC Bank.
“We are excited to advance Sarasota Square Apartments and begin construction on a community that will play an important role within the broader Sarasota Square redevelopment,” said Ryan Studzinski, partner at Woodfield Development. “The Sarasota market continues to demonstrate strong fundamentals driven by population growth, household formation, and long-term demand for high-quality housing. This project allows us to deliver a thoughtfully designed residential community within one of the region’s most significant mixed-use destinations.”
Located on approximately 4.5 acres at 8201 S. Tamiami Trail, Sarasota Square Apartments will consist of 355 apartment residences in a five- and six-story building. The community will offer a mix of one-, two-, and three-bedroom residences ranging from approximately 768 to 1,626 square feet.
Residences will feature thoughtfully designed interiors with quartz countertops, energy-efficient stainless steel appliances, wood-style luxury vinyl plank flooring, tiled kitchen backsplashes, frameless glass shower enclosures, walk-in closets, and in-unit washers and dryers. Select floor plans will also offer private patios or balconies, while integrated smart home technology will include smart locks, digital thermostats, and gigabit Wi-Fi connectivity.
Community amenities will include a resort-style pool with cabanas and outdoor entertainment areas, coworking lounge, resident clubhouse, fitness center, wellness spa, golf simulator, and sky lounge, along with gated parking and electric vehicle charging stations.
The community will be located within the larger Sarasota Square redevelopment, which is planned to include approximately 530,000 square feet of retail, restaurant, and commercial space and approximately 1,200 residential units. The redevelopment is being delivered in phases and is already attracting a strong roster of national retailers and restaurants.
Situated along the U.S. 41 corridor in southern Sarasota County, the project benefits from proximity to some of the region’s most desirable residential neighborhoods, employment centers, beaches, and recreational amenities. Residents will be just minutes from Siesta Beach on Siesta Key, which has been recognized among the nation’s top beaches, as well as the restaurants, boutiques, and waterfront attractions that define Sarasota’s Gulf Coast lifestyle. The community also offers convenient access to downtown Sarasota, the area’s growing healthcare and professional employment centers, and a variety of outdoor recreation opportunities including boating, fishing, golf, and miles of coastal trails.
Woodfield Development established its Florida presence in 2020 with the completion of Oversea at Flagler Banyan Square in West Palm Beach. Since then, the firm has expanded its footprint across the state, commencing or completing construction on more than 3,000 residential units, representing over $1 billion in development over the past five years.
The project team includes Charlan Brock as the architect of record, Books & Freund as general contractor, and Shelton Taylor overseeing interior design.
Construction is expected to begin this summer, with first residences anticipated in the first quarter of 2028 and completion projected for the fourth quarter of 2028.
For more information, visit www.woodfielddevelopment.com.
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About Woodfield Development
Woodfield Development is a premier developer and operator of Class A multifamily communities. Amongst its peer group, the Woodfield partnership has unmatched experience in multifamily development and asset management. Since its founding in 2005, Woodfield has completed 74 communities, has 16 communities under construction, and numerous projects in various stages of entitlement and design. Woodfield’s earliest developments were located predominantly in the southeast and Mid-Atlantic, but the company has since expanded its footprint to include markets in the Northeast, Florida, Tennessee, and Texas.
From the first project to each thereafter, the singular goal is to deliver well-conceived, thoughtfully designed, market supported projects that hit each market’s sweet spot and create value for Woodfield’s investors and partners. Relying on local knowledge with experienced development partners, Woodfield sets the new high bar with each development it delivers. With a track record that stands above, Woodfield Development sets out to assemble the best team of designers, consultants, architects, general contractors, and capital sources – every development, every time. Read more at woodfielddevelopment.com.