Virtually Staged. Pre-Construction. To be built. Preconstruction. An exceptional opportunity to create a new Coastal Contemporary waterfront residence on Siesta Key. Located at 4950 Commonwealth Drive, this rare double-lot homesite on the Grand Canal is being offered with the opportunity to build The Islander by Heritage Builders, pairing an outstanding waterfront setting with a thoughtfully designed luxury residence. The proposed Islander offers approximately 4,132 square feet, with 5 bedrooms, 4.5 baths, a private study, an upper-level loft, and an elevator. Designed around comfortable everyday living and effortless entertaining, the floor plan features expansive gathering spaces, soaring beamed ceilings, white oak flooring, and a gourmet kitchen that opens naturally to the great room and outdoor living areas. The main level is designed to include a private office, luxurious primary suite with a spa-inspired bath, and an additional ensuite guest bedroom. Upstairs, a spacious loft serves as a second gathering area, complemented by additional bedrooms, a VIP suite with a private balcony, and flexible space that can accommodate a media room, fitness area, or guest retreat. A custom wet bar adds another layer of convenience for entertaining family and friends. Indoor and outdoor living come together through expansive, impact-resistant sliding glass doors that lead to a private backyard retreat. The proposed outdoor setting includes a pool and spa, a covered lanai, and an outdoor kitchen and grilling area, creating a natural extension of the home for dining, relaxing, and entertaining in the Florida sunshine. Beyond the residence itself, the setting is what makes this opportunity truly special. 4950 Commonwealth Drive offers approximately 107 feet of Grand Canal frontage, a concrete seawall, and an existing dock. Positioned along a low-wake arm of the canal, the property provides convenient boating access to Roberts Bay and the Intracoastal waterways beyond. Just minutes from Siesta Key Beach and Siesta Key Village, the homesite places boating, beaches, dining, shopping, and Sarasota’s coastal lifestyle within easy reach while providing a peaceful residential setting to come home to. Bring the vision together on Siesta Key — an exceptional waterfront homesite paired with The Islander by Heritage Builders and the opportunity to create a new residence designed around life on the water. Homesite and builder package can be offered separately. Images, plans, features, specifications, dimensions, and pricing are subject to change and should be verified with the builder.