04/27/2026
https://www.facebook.com/share/p/18moSrNGbD/?mibextid=wwXIfr
So what do you think? Progress?
The Obsidian is a proposed 18-story, 14-unit luxury condominium tower planned for 1260 North Palm Avenue in downtown Sarasota, designed to be the city's tallest building at 327 feet. Developed by MK Equity Corporation, it features high-end amenities like a wine cellar, golf simulator, and spa. The project has faced intense opposition from local residents and was halted by city commissioners in May 2025.
Key Project Details (As Proposed):
Location: 1260 North Palm Ave, downtown Sarasota.
Structure: 18 stories, 327 feet tall, 14 total residences.
Units: Extremely large units, starting from the 5th floor, with 3-4 bedrooms ranging from 4,344 to over 5,700 square feet.
Amenities: Yoga/meditation studio, fitness center, sauna, steam room, cold-plunge ice bath, wine tasting room, card lounge, and rooftop pool.
Developer: MK Equity Corporation (Matt Kihnke).
Development Status and Controversy:
Opposition: Residents of the neighboring Bay Plaza condominium have strongly opposed the project, arguing it is too large for the 0.28-acre lot, disrupts the neighborhood character, and reduces necessary street-level retail.
Rejection: On May 13, 2025, the Sarasota City Commission voted 4-1 to uphold an appeal against the project, effectively halting the current development plan,.
Future: The developer may choose to appeal to the 12th Judicial Circuit Court or submit a new, redesigned plan for the site.
