Nearly $35 million in Lakewood Ranch road improvements underway

A project to build 9.2 miles of four-lane roads to serve Schroeder-Manatee Ranch’s 1,425-acre Waterside project and add more north-south connections between Manatee and Sarasota counties is on track for completion in 2017. The project also includes 4,065 acres that will remain as open space.

To date, $34.8 million in contracts have been awarded to three contractors who are tackling the project, including 2.3 miles of Deer Drive, 1.7 miles of Lakewood Ranch Boulevard to SMR’s southern boundary in Sarasota County, and two segments of Lorraine Road totaling 3.5 miles.

The only portion of road improvements not yet awarded to a contractor is a 1.7-mile extension of Lakewood Ranch Boulevard from SMR’s southern border to Fruitville Road, which is pending right-of-way acquisition. Once right of way is acquired, about 12 months will be needed to complete that roadwork, said Richard G. Bedford, vice president of planning for SMR.

Otherwise, Lorraine Road, Lakewood Ranch and Deer Drive are expected to be completed by July, Bedford said in an email.

Costs for the final portion of Lakewood Ranch Boulevard, plus landscaping and lighting, could push construction costs to nearly $50 million.

“Things are going well. We haven’t had any hiccups. The contractors know what they are doing,” said Mike Kennedy of Stantec, who serves as engineer for the Lakewood Ranch Stewardship District.

Earlier this year, district supervisors approved a $79.5 million bond issue to pay for roads and utilities in Waterside, which was formerly referred to as the Villages of Lakewood Ranch South.

The bond issue is twice as large as any other previously done by SMR.

Waterside, located south of the Lakewood Ranch Corporate Park, The Lake Club, and Sarasota Polo Club, is planned for 5,144 residential units and 400,000-square-feet of office and commercial development.

Groundbreaking on the project, expected to require 20 years to complete, started in April.

Waterside is being built around seven lakes and is the most significant project planned under Sarasota’s 2050 plan, designed to guide the development of eastern Sarasota County through the year 2050.

This story was originally published December 2, 2016 at 1:50 PM with the headline "Nearly $35 million in Lakewood Ranch road improvements underway."