August 11, 2026, | Sarasota, FL. – Marie Selby Botanical Gardens today announced three significant milestones in the continued advancement of Phase Two of its Master Plan: the successful execution of a $41.9 million bond sale, the beginning of vertical construction, and the achievement of 98% of the total funding goal raised for the transformative project.
About the Bond Sale
High demand from bond investors underscores the institution’s solid financial position and confidence in the project’s future impact. The bond offering attracted exceptional investor interest, with 15 unique investors submitting orders totaling approximately 10 times the bonds offered. The $41.9 million in proceeds from the bond sale, executed in July, enable Selby Gardens to maintain an aggressive construction schedule while multiyear philanthropic gifts are realized.
“The strong support we’ve received from both our philanthropic community, and the investment market reflects the confidence people have in Selby Gardens and our vision for the future,” said Jennifer O. Rominiecki, President & CEO of Marie Selby Botanical Gardens. “With this financing in place, we are well positioned to maintain our ambitious construction schedule while continuing to create a campus that serves our community, advances our mission, and inspires future generations.”
R.W. Baird served as the underwriter for the Selby Gardens bond sale, while Capital Trust Agency issued the tax-exempt bonds.
Phase Two Vertical Construction Now Underway
With permitting complete, Phase Two has entered the vertical construction phase following its groundbreaking in December 2025.
Phase Two consists of a new Conservatory Complex, Learning Pavilion, and key landscape features. The state-of-the-art, first-of-its-kind hurricane-resilient Conservatory Complex will serve as the crown jewel of the Downtown Sarasota campus, showcasing more than 20,000 plants from Selby Gardens’ living research collections, including the world’s bestscientifically documented collections of orchids and bromeliads.
The new Conservatory Complex will feature the Selby System, an innovative, hurricane-resilient greenhouse design developed through a multi-year collaboration between Selby Gardens and its partners, for which Selby Gardens is pursuing trademark protection.
Engineered to exceed traditional greenhouse standards and meet the 2023 Florida Building Code for publicly occupied buildings, the system uses lightweight, high-performance polycarbonate glazing to reduce structural weight, material use, construction costs and environmental impact while providing exceptional storm resilience. The design was successfully validated through full-scale testing under simulated extreme hurricane conditions in 2026.
Building on the innovative sustainability leadership established in Phase One, Marie Selby Botanical Gardens is committed to advancing this legacy with 100% renewable energy, sustainable water harvesting, and resilient design to inspire future generations and protect its collections. These initiatives ensure a resilient infrastructure that supports the Gardens’ environmental stewardship, designed not only to serve generations of visitors but also to safeguard the organization’s invaluable botanical collections. This commitment positions Selby Gardens as a model for cultural and botanical institutions, embracing a forward-thinking approach to resilience and resource efficiency.
Today, the public can see less than 5% of Selby Gardens’ living research collections; the new Conservatory Complex will make nearly 100% of Selby Gardens’ world-renowned collected plants visible to the public. In addition, a new Learning Pavillion will feature enhanced facilities for all of Selby Gardens’ education programs, as well as enhanced gardens and landscape features that will expand the beauty and resilience of our bayfront sanctuary. Phase Two will open in November 2028.
About the Campaign
The capital goal for Phase Two stands at $60.9 million. To date, $59.7 million has been raised, which is 98% of the campaign goal. The cumulative total of funds raised for both Phases One and Two has reached over the $127 million mark, including nearly $10 million for endowment with 99% percent of all funds coming from private philanthropy.
The Co-Chairs of the Phase Two Campaign effort are Gail Morrison Morganroth, MD,and Audrey Robbins.
After Phase Two is completed in November 2028, the Master Plan project will move on to Phase Three which will complete the project with restoration of the campus’ two major historical buildings, unification of all walking paths throughout the Gardens, and bolstering of the property’s seawalls.
Attracting over 330,000 visitors a year, Selby Gardens is looking toward the future with this ambitious expansion for its Downtown Sarasota campus, which is one of the most biodiverse botanical gardens in the world. The Phase Two project team has been guided by the international landscape architecture studio OLIN with architecture by Sweet Sparkman Architecture & Interiors, civil engineer Kimley-Horn and Associates, MEP by Engineering Matrix, structural engineering by TY Lin Silman and conservatory advisory by Ron Determann and Jeffrey Woolsey and renderings by L Design. Willis Smith Construction serves as the construction manager.
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About Marie Selby Botanical Gardens
Marie Selby Botanical Gardens provides 45 acres of bayfront sanctuaries connecting people with air plants of the world, native nature, and our regional history. Established by forward-thinking women of their time, Selby Gardens is composed of the 15-acre Downtown Sarasota campus and the 30-acre Historic Spanish Point campus in the Osprey area of Sarasota County, Florida. The Downtown campus on Sarasota Bay is the only botanical garden in the world dedicated to the display and study of epiphytic orchids, bromeliads, gesneriads and ferns, and other tropical plants. There is a significant focus on botany, horticulture, education, historical preservation, and the environment. The Historic Spanish Point campus is located less than 10 miles south along Little Sarasota Bay. One of the largest preserves showcasing native Florida plants that is interpreted for and open to the public, it celebrates an archaeological record that encompasses approximately 5,000 years of Florida history. Marie Selby Botanical Gardens is a Smithsonian Affiliate and is also accredited by the American Alliance of Museums. Selby Gardens was selected for Time magazine’s annual list of the “World’s Greatest Places 2024.” For more information visit www.selby.org. For more information visit www.selby.org.