In 2016, a Florida foundation backed a 53-acre waterfront park. Nine years later, its $10 million investment had helped catalyze $50 million in private donations

Former parking lot along Sarasota Bay is becoming a 53 acre public park. With a Florida foundation helping attract $50 million in private donations over nine years. First part of the park is already open, and more than 1.2 million people have visited. But construction is still underway as Sarasota continues its plans for the waterfront.

Patterson Foundation began supporting The Bay in March 2016. By June 2025 it contributed $10 million in unrestricted funding. Using individual gifts, technical assistance and donation matching opportunities to encourage private support.

The foundation's final contribution was a $1 million gift announced in February 2025. It said its overall investment had helped generate $50 million in private donations for the park's construction, ongoing operations and free public programmes.

How the project attracted private donations

Patterson Foundation's early involvement included $300,000 in funding and consulting support for the Sarasota Bayfront Planning Organization (SBPO). Which led the initial planning process.

In January 2019, the organization evolved into the Bay Park Conservancy (BPC). The conservancy now works with the City of Sarasota to plan, fund, build and operate the park.

The foundation continued its support through unrestricted grants and challenge matches designed to encourage private donors. One of its later fundraising efforts involved a $4 million challenge match. The Bay secured the match after raising $20 million from private donors.

The City of Sarasota owns the land, while the conservancy leads the development. The City Commission unanimously approved a partnership agreement with the organization in April 2019, giving it responsibility for managing the implementation of the park's master plan.

More than 1.2 million people have visited The Bay

The first 10 acres opened to the public in October 2022. The park has since recorded more than 1.2 million visits, according to an August 2026 report by Your Observer. The park also offers free activities and events throughout the year.

The next phase will add another 14 acres and includes work on the Cultural District, Canal District and Resilient Shoreline. The $65 million development is fully funded. Construction includes improvements to historic buildings, a tree-lined promenade, new gathering spaces and restoration of nearly one mile of waterfront.

The Bay's project information lists 2027 as the expected completion year for Phase 2. The full 53 acre development is estimated to cost $200 million and is expected to take eight to 10 years across four or more phases.

Cleaning up the waterfront is part of the project

The work at The Bay goes beyond creating more space for visitors. It also includes efforts to improve water quality and restore the surrounding environment.

Construction has removed two to three feet of polluted sediment from park's bayou floor along with more than 3,000 cubic yards of sediment from a canal. The work has improved tidal flow and habitat, as per the Patterson Foundation's February 2025 announcement.

The Bay's 2025 annual report said that the park treats more than 40 million gallons of polluted stormwater each year before it flows into Sarasota Bay. The report also recorded 12 acres of maintained green space including gardens, lawns and thousands of Florida-friendly and native trees and plants.