The owner of the former Sarasota Quay property is taking initial steps toward development.

GreenPointe Communities, which paid $27 million for the 14-acre bayfront site last December, expects to submit a formal development plan to the city of Sarasota early 2016.

The project, called "Sarasota Bayside," will - for now - retain the scope of the development that was approved eight years ago, GreenPointe regional president Rick Harcrow said [...]