Kelly Kirschner and Derek Gilliam/Suncoast Searchlight

Sarasota’s effort to directly develop affordable housing downtown — an unprecedented, city-led plan championed by former City Manager Marlon Brown — faltered after the city spent more than $7 million on land without a finalized construction budget or financing strategy and as anticipated state and philanthropic funding did not come through. It has now reemerged with an unsolicited, scaled-back proposal from a local developer whose low cost estimates and lack of high-rise experience have prompted questions from housing and real estate experts about feasibility, due diligence and next steps.