$150 million resort headed to Gasparilla Island | Business Observer

BOCA GRANDE — A Miami-based real estate development and investment firm is building a $150 million luxury resort and spa on Gasparilla Island.

Banyan Gasparilla Sound will be a five-star resort community that will include 99 condominium residences and 83 resort residence. This in addition to an 11,000-square-foot-spa.

The resort, according to the developers, “creates a resort lifestyle curated to celebrate wellness with unsurpassed amenities.”

Banyan is being developed by Integra Investments. The Miami developer is behind several ultra-luxury projects in the state including the St. Regis Residences in Miami, 2340 Collins Avenue on Miami Beach and the Boca Beach Residences in Boca Raton.

The resort will be at 13000 Fishery Road, just outside Boca Grande. A spokeswoman says in an email that Integra “is not able” to disclose how much it paid for the property “until the property is on public record.” A sale to Integra was not listed on Charlotte County’s property records page as of March 21.

The spokeswoman, however, did confirm the $150 million price tag for Banyan.

At Banyan, the residences will be made up of two- and three-bedroom units ranging from 1,450 square feet to 2,161 square feet with unobstructed views of the water. Prices will start at $1.3 million. Among the amenities will be a deep-water marina in Charlotte Harbor, a club and resident lounge with a full-service restaurant, white-glove concierge services and retail shops. There will also be fire pits, a juice bar, onsite beach with private cabanas and, naturally, a pool.

One of the main features and attractions will be an 11,000-square-foot spa designed by TLEE, a spa design and consulting company, which will include steam and sauna, hydrotherapy, massage and bodywork, salon, serenity garden and yoga lawn.

The resort, named for its location on the harbor and the nearby Banyan Street in Boca Grande, will have large banyan trees throughout and lush landscaping.

A small touch to connect the past and present will be vintage photos of Gasparilla Sound back when it fishery before shutting down in the 1980s.

Sales have started, with construction expected to begin next year.

Integra Investments’ principal Victor Ballestas says in a press release that “we endeavor to establish a relaxed and sophisticated community with a level of hospitality that has a transformative effect on everyday life and benefits the long-term well-being of its residents.”

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