A new 16-story building is coming to downtown Sarasota in a space that’s currently home to Il Panificio pizzeria.

It will have 120 hotel rooms, 35 residential units and 126 parking spaces, and the ground floor will include a two-level restaurant open to the public. The project will sit on nearly half an acre on the corner of Goodrich Avenue and Main Street—land that is currently home to three single-story buildings: Il Panificio, Main Street Shoe Repair and Fringe Spa Salon. The new building will inherit the Panificio address of 1703 Main St., Sarasota…