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The Sandcastle Resort on Lido Key in Sarasota has begun its transformation, marking the start of demolition on the 176-room hotel situated at 1540 Benjamin Franklin Drive, approximately one mile from St. Armands Circle. This action comes after the building suffered significant flood damage during hurricanes Helene and Milton.
The sign remains, for now, as the Sandcastle Resort at Lido Beach is demolished on Lido Key Wednesday, Aug. 13. A new hotel will be built on the site by Opal, though details are yet to be shared by developers.
Ocean Properties Hotels Resorts & Affiliates purchased the property in February 2014 for $27.4 million from Lido Sand LLC. According to Sarasota County property records, Lido Sand then sold it to another LLC for $24.55 million in October 2022.
The Opal Collection, a segment of Ocean Properties that manages around two dozen luxury hotels in Florida, including the nearby Cirque St. Armands and The Resort at Longboat Key Club, is slated to develop the six-acre beachfront site where the Sandcastle is currently being demolished, as reported by the Sarasota Observer.
To knock down this sandcastle, heavy machinery was necessary. The Sandcastle Resort at Lido Key is being demolished Wednesday, Aug. 13, and the ownership group behind St. Regis, Cirque, and other Florida hotels and resorts have plans to build anew at the location sandwiched by the Gulf and Benjamin Franklin Drive.
While specific plans for the new development remain under wraps, Opal’s website hints at a “relaxed yet refined coastal retreat,” featuring “signature hospitality, luxury accommodations, enhanced guest experiences, and top-notch dining options.”
As of mid-August, plans have not yet been submitted to the City of Sarasota for their review, and Opal has not responded to the Sarasota Observer for further information.
Previously, Ocean Properties and Opal had proposed a $100 million project to the City of Sarasota in July 2017, which also included plans to demolish the Sandcastle. That proposal featured two towers, nine and ten stories tall, comprising 128 new rooms, each with unobstructed Gulf views, along with around 20,000 square feet dedicated to meeting, event, and restaurant space.
This article originally appeared on sister site YourObserver.com.
Key Information
- Location: 1540 Benjamin Franklin Drive, Lido Key, Sarasota
- Previous Property: Sandcastle Resort (176 rooms)
- Demolition Date: Began August 13, 2023
- Previous Owners: Ocean Properties Hotels Resorts & Affiliates (acquired in February 2014 for $27.4 million)
- Future Plans: New hotel development by Opal Collection, details pending
- Previous Proposal: $100 million project with two towers and 128 rooms (July 2017)
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Article original publish date: 2025-08-15 09:00:00
Article source: businessobserverfl.com
Read the full story at the original source: businessobserverfl.com
