Luxury apartment complex approved in South Manatee

The Manatee County Board of Commissioners on Tuesday paved the way for the Picerne Real Estate Group to begin submitting final site plans for a 324-unit luxury apartment complex on the north side of University Parkway and Florida Street in south Manatee.

Commissioner Robin DiSabatino expressed concern over the proposed rental rates, which will begin at $995 for a one-bedroom apartment, up to $1,395 for a two-bedroom and topping out at $1,695 for a three-bedroom.

“I have been leery about the pricing. ... It’s expensive for rent, but you are renting into a luxurious community, I get that,” she said.

Picerne representatives acknowledged it isn’t meeting the county goal of more affordable housing, but they argued the growing southern region of Manatee County and northern reaches of Sarasota County need housing.

“I realize this doesn’t qualify for affordable housing, but would note that it’s still less expensive than the housing in the area,” said Chris Roper, a Piscerne attorney.

The project has been under review for almost a year. The planned development request approval wrapped up the final details of zoning requirements, which will allow for up to 45-foot high, three-story buildings with 10,000 square feet of amenities.

The minimum income to qualify to rent a one-bedroom apartment at Oasis would be $38,820 per household, or three times the monthly rent.

Commissioner Carol Whitmore said she has a full understanding of the history of the area and the project is a good addition.

“It’s a good infill project,” she said.

Roper said the approval is the final step necessary for Picerne to move forward with closing on the property later this year.

This story was originally published June 2, 2016 at 2:19 PM with the headline "Luxury apartment complex approved in South Manatee."