Kolter Group, operating as KT Sarasota Bay, has begun the redevelopment of the Hyatt Regency property, starting with the construction of its Ritz-Carlton Residences South Tower in The Quay. On September 4th, Kolter presented its plans to the city’s Development Review Committee for a mixed-use project that will feature 224 condominiums, 166 hotel rooms, and 4,700 square feet of commercial space. The new hotel will include a 7,000-square-foot ballroom, replacing the Hyatt’s current 10,000-square-foot event space, offering a modern venue for meetings and events.

The project, adjacent to The Quay, will involve the demolition of the existing Hyatt Regency to make room for two new towers, dubbed the east and west buildings. These towers will be part of a larger three-tower campus, including the under-construction The Ritz-Carlton Residences II. The Hyatt’s replacement will be managed by Kolter Hospitality under the Thompson Hotels brand.

Schematic plans reveal the west tower will rise 273 feet, and the east tower will reach 243 feet. As the project unfolds in phases, adjustments like relocating parking access on Boulevard of the Arts may require administrative approval. The developer hopes to avoid additional Planning Board reviews by making necessary adjustments to the plan.

Once complete, the entire three-tower campus will offer condominium owners access to shared amenities, including The Harbor Club, a 20,000-square-foot space along the marina. This redevelopment will transform the east side of the marina, with Kolter’s properties extending along both ends.