1260 North Palm Residences Returns to Sarasota Commission Nov. 2

1260 North Palm Residences, a proposed 18-story luxury condo tower at 1260 N. Palm Ave in downtown Sarasota, returns to the City Commission on Nov. 2, 2026. The commission will weigh a special magistrate's recommendation to rescind its earlier denial. MK Equity Corporation is the developer, with design by Hoyt Architects and PS Design Workshop.

The tower would rise 327 feet on a 0.28-acre site now occupied by a one-story retail strip. Plans call for 14 full-floor units, with interiors by Troy Adams. The first floor holds commercial space.

Formerly branded Obsidian, the project was renamed in April 2024 and redesigned from 342 feet to 327 feet. The site is zoned Downtown Bayfront, which at the time of submission restricted the number of stories but placed no cap on building height in feet.

The site plan won administrative approval Oct. 2, 2024, but the commission overturned it 4-1 on May 13, 2025. Developer Matt Kihnke, MK Equity's president, filed a FLUEDRA petition Aug. 11, 2025. Special magistrate Mark Bentley recommended approval, but the commission again voted 4-1 to deny the mediated settlement on May 4, 2026. The Nov. 2 hearing takes up Bentley's recommendation to rescind that denial.