New Construction Projects in Osprey, Florida

Project 1: Compass Hotel by Margaritaville

• Developer: Stellar Development / Floridays Development (with local partner Mike Evanoff)
• Location: 120 Bayview Drive, Osprey, FL (waterfront on Little Sarasota Bay, adjacent to Evie's at Spanish Point)
• Type: Hotel (Commercial/Mixed-use with restaurant and marina elements)
• Units/Size: 120 keys/rooms (4 stories); includes 40 boat slips and ground-floor restaurant
• Status: Announced / Breaking ground (construction start targeted late June/early July 2026)
• Expected Completion: Fall 2027 (approximately 15-month build)
• Description: Boutique Compass by Margaritaville hotel featuring coastal-inspired rooms on a prime 5-acre waterfront site; integrates the existing Evie's restaurant and tiki bar into the development for a blended hospitality and dining experience.[1][2]

Project 2: Alton Osprey

• Developer: Kolter Multifamily (Kolter Group)
• Location: 174 East Bay Street, Osprey, FL
• Type: Residential (Upscale Multifamily Apartments)
• Units/Size: 252 units
• Status: Under Construction / Nearing Completion (leasing opened)
• Expected Completion: 2025–2026
• Description: Upscale apartment community in the Alton branded series, offering modern rental units with community amenities in a desirable Sarasota County location near downtown Sarasota.[3][4]

Project 3: Edgewater at Hidden Bay (Final Phase)

• Developer: HBH Development (Edgewater section of Hidden Bay community)
• Location: Hidden Bay Drive (bayfront sites within Hidden Bay), Osprey, FL
• Type: Residential (Condominiums)
• Units/Size: 52 total bayfront condos across three buildings in the Edgewater section (final building: 16 units); units typically 1,937–2,166 sq ft (3BR/2–2.5BA + den configurations)
• Status: Recently Completed / Final Building Completing (2024–2025 construction phase)
• Expected Completion: 2025
• Description: New bayfront condominiums in Key West architectural style with direct Little Sarasota Bay views, modern finishes, under-building parking, and access to the gated Hidden Bay community's resort-style amenities (pool/spa, tennis/pickleball, boardwalk, fishing pier, kayak launch). The final waterfront building emphasizes premium positioning and contemporary coastal design.[5][6]

Note: Limited public information is available on additional large-scale projects. A proposed 46-unit D.R. Horton townhome development on parcels near 2301 South Tamiami Trail (Osprey/Nokomis border) was recommended for denial by the Sarasota County Planning Commission in early 2026 and does not appear to be advancing. Conceptual retail development plans exist but lack confirmed developer, timeline, or active status details. Park and infrastructure improvements (e.g., West Bay Street Park) are underway but are not new residential or commercial construction projects.