The Prestigious Development in Sarasota, Florida Marks the Brand’s First-Ever Stand-Alone Residential Project
Rosewood Hotels & Resorts® is pleased to announce Rosewood Residences Lido Key, the brand’s first stand-alone residential project spearheaded by luxury real estate developer, The Ronto Group and real estate investment firm, Wheelock Street Capital. Situated along one of the country’s most beautiful beaches off the coast of Sarasota, Florida, just a short walk from St. Armands circle. The 65-unit condominium will be completed in 2025, with sales reservations to launch in December 2021, and will bring a new luxury lifestyle experience to the area and the United States at large. A long-term goal for the Rosewood brand, the inaugural independent Rosewood Residences project speaks to an increased demand for enriched living that combines the amenities, facilities and services of an ultra-luxury resort with the intimacy and comfort of a private home.
“This project marks a major milestone for Rosewood Hotels & Resorts, a brand that has redefined the concept of ‘residential hospitality’ since it first launched over 40 years ago with the transformation of a mansion in Dallas into an ultra-luxury hotel and restaurant,” said Brad Berry, vice president of Global Residential Development at Rosewood Hotel Group. “We have been carefully considering how best to build upon the growth of our residential segment with our first stand-alone Rosewood Residences and are thrilled to have this opportunity to do so in partnership with The Ronto Group and Wheelock Street Capital. Especially now, as lifestyle preferences continue to shift and thereby create an increased demand for the experience that Rosewood Residences provides, we’re proud to bring this offering to the market and to be a part of both Florida’s and the luxury real estate industry’s continued growth and evolution.”
The Benefits and Rise of Branded Residences
Rosewood Residences is a highly distinctive collection of residential villas, estate homes and fine apartments available for purchase or rent in the world’s most dynamic cities, exotic locations and emerging destinations. Designed for both short- and long-term stays, the for-sale residences span from one-of-a-kind stand-alone villas to for-rent serviced apartments. Combining exclusive and state-of-the-art amenities and facilities with elevated and intuitive service, as well as the utmost in discretion, privacy, and comfort, to deliver a seamless and immersive experience, Rosewood Residences caters to the cultivated tastes of affluent explorers. The segment has proven extremely successful for Rosewood Hotels & Resorts, which currently has a property pipeline wherein approximately 50% of all projects include a residential component. The Lido Key development represents the next phase of Rosewood Residences’ global expansion and evolution. Each ultra-luxury residence expresses the values of Rosewood Hotels & Resorts through the intricate details of craftmanship, architecture, urban planning and interior and industrial design to create purposeful and enriching environments.
A New Benchmark of Luxury in Lido Key
Rosewood Residences Lido Key will occupy 3.5 prime acres of beachfront real estate designed by Miami-based Swedroe Architecture, with interiors spearheaded by New York-based Lillian Wu Studio. Combining exquisite Gulf of Mexico views with unmatched amenities and services, each of the property’s 65 residences will be designed in accordance with Rosewood’s guiding A Sense of Place® philosophy, wherein the sensibilities of the locale inspire the distinctive style and programming provided at each respective Rosewood destination.
The residences will average approximately 4,200 square feet in size and showcase state-of-the-art finishes and features. The onsite amenities will include a private restaurant and chef services for in-residence dining and catering, world-class fitness center with options for private training and yoga sessions, outdoor pools, massage rooms, private guest suites with housekeeping service, lounge featuring library and game room, and a 24-hour concierge all managed by Rosewood. Pricing has not yet been announced.
“This is sure to be a legacy project for The Ronto Group,” said Anthony Solomon, owner of The Ronto Group. “We are honored to bring the first stand-alone Rosewood Residences to the United States and to welcome the unparalleled Rosewood service and design to Florida.” Added Hunter Jones of Wheelock Street Capital, “Rosewood Residences Lido Key will be an iconic addition to the city of Sarasota, and we look forward to watching its progress.”
A Discerning Destination for Extended Stays
In recent years, Florida has seen an influx in demand for seasonal and permanent residences as secondary cities have been shown to provide smart solutions to the shifting lifestyle priorities and habits of today’s consumers. Located off the coast of Sarasota, Lido Key is no exception.
Perfect for nature lovers, beach goers, fishing enthusiasts and boaters, the destination affords a quiet and relaxing way of living free of the heavy crowds that other coastal areas can draw. The isle’s picturesque stretch of town is filled with chic boutiques, fine dining establishments and casual eateries, while nearby Sarasota – recently ranked by US News & World Report as one of the Top Ten Places to Live in the U.S. – is known for its vibrant arts scene, beachy atmosphere and burgeoning food culture. Once considered a playground for retirees, the city has transformed into one of Florida’s most dynamic destinations fueled by the area’s arts, including the Ringling Museum, and the Van Weizel performing arts hall, as well as the arrival of families and young professionals. Perfect for year-round living or a seasonal escape, Rosewood Residences Lido Key adds an element of laid-back luxury to the accommodation offerings available in the area.
Rosewood Residences Lido Key are for purchase only, no rentals will be available. For more information, please visit www.residenceslidokey.com.
About Rosewood Residences
Rosewood Residences offers a distinct opportunity for villa, estate home and fine apartment ownership or rental in the most sought-after destinations operated by Rosewood Hotels & Resorts, an ultra-luxury hotel management company that operates an exceptional and expanding collection of unique properties worldwide. Rosewood Residences caters to the cultivated tastes of global citizens who crave a lifestyle of authenticity fused with modern luxury. Combining exclusive and state-of-the-art amenities and facilities with elevated and intuitive service, as well as the utmost in discretion, privacy and privilege, the extraordinary accommodations deliver a seamless residential experience for owners and guests.
For more information: https://www.rosewoodhotels.com/en/residences
About Rosewood Hotels & Resorts
Rosewood Hotels & Resorts® manages 26 one-of-a-kind luxury hotels, resorts and residences in 15 countries, with 26 new properties under development. Each Rosewood property embraces the brand’s A Sense of Place® philosophy to reflect the individual location’s history, culture and sensibilities. The Rosewood collection includes some of the world’s most legendary hotels and resorts, including The Carlyle, A Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas and Hôtel de Crillon, A Rosewood Hotel in Paris, as well as new classics such as Rosewood Hong Kong. For those who wish to stay a little longer, Rosewood Residences offer a distinct opportunity for ownership or rent in extraordinary destinations within the brand’s wide-ranging portfolio.
For more information: rosewoodhotels.com
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About The Ronto Group
Since 1967, The Ronto Group has been perfecting their skills in real estate development through the creation of residential and commercial projects worldwide. For over thirty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the area’s irresistible appeal, from Marco Island and Naples to Sarasota and Tampa. The Company has built a solid reputation for imaginative vision, steadfast integrity and reliable performance. Headquartered in Naples, Ronto’s expertise in condominium and land development has been recognized internationally for communities that are lasting examples of the luxury lifestyle, thoughtful planning and dedicated craftsmanship. The Company has also received numerous awards from the southwest Florida homebuilding industry for superior design and craftsmanship. The Ronto Group’s expertise and attention to detail is evident in each of their projects. Visit www.Ronto.com
About Wheelock Street Capital
Wheelock Street Capital (https://wheelockst.com/) was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with 30 years of broad real estate transaction experience across all major asset classes. Wheelock has raised over $4 billion in capital commitments from well-known institutional investors and focuses on real estate investment opportunities throughout the United States, in both public and private markets. Wheelock is currently deploying its sixth fund in its value-added series, Wheelock Street Real Estate Fund VI and its first perpetual life fund, Wheelock Street Long Term Value Fund. The Long Term Value Fund targets high-quality, cash-flowing assets with stable, yet attractive risk-adjusted returns over a 5-15 year investment horizon. The firm may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. Wheelock’s investment team benefits from extensive experience from top-tier institutional investment firms and highly regarded real estate operating companies and has produced a 10-year track record of demonstrated and consistent outperformance over industry benchmarks.