A $900,000 purchase of vacant land on 5th Street has set plans in motion for yet another hotel near downtown Sarasota, leading to speculation about the possibility of a downtown conference center.

Boston-based developer Jason Cincotta this week bought the 10,500-square-foot parcel fronting Cocoanut Avenue

to complete nearly an acre of property in the Rosemary District slated to be the site of a 76-room hotel. The project, currently called 599 Cocoanut Redevelopment, includes a restaurant, valet parking and two loading zones, for which the owner has applied for an adjustment to the city’s zoning code.

BY THE NUMBERS

76 — number of rooms proposed for Cocoanut Avenue hotel
156 — number of seats in dining areas
69,700 — square feet of total room space
— number of floors