Archives for October 2008

Clearwater Beach Approves 2 New Projects

Work on 2 Clearwater Beach construction projects has been approved by the city council.

Ocean Properties site: The 14-story Adams Mark was a landmark at 430 S Gulfview Blvd for 30 years. It was demolished 3 years ago to make way for a condo tower. That didn’t work out due to the troubled housing market. It was then purchased by Ocean Properties, an international hotel developer and manager that operates more than 100 hotels. Ocean Properties planss to build a 230-room hotel on the site with a restaurant, bar, ballroom and five-story garage.

Clearwater Beach Resort & Hotel: Where the Spyglass recently stood at S Gulfview and Coronado Drive, Dr Kirin Patel is planning a 900,000 square foot project – 2 150-foot tall towers connected by a 95 foot tall building. It was originally going to be mostly condos, but then the condo market declined. The Community Development Board approved a new design on Tuesday mapping out 250 hotel rooms and suites and 200 weekly time-share rooms. Developers will now ask the city for an extension delaying a construction start until 2011 instead of 2010.

Trump Tower Tampa Suit Final – No Deal

Donald Trump has settled his lawsuit with SimDag, developer of Trump Tower Tampa, officially ending the relationship between the two. The mediation gave neither side everything it wanted. Details have not been released.

Trump sued in May 2007 to recover more than $2-million in licensing fees for the right to use Trump’s name on the 52-story skyscraper. SimDag launched a countersuit accusing Trump of breaching a confidentiality agreement by going public with his complaints.
The tower was planned in 2005 as the biggest skyscraper in west-central Florida, with prices ranging from $700k to $6 Million. But the developers couldn’t get a $200-million loan amid Florida’s condo glut. SimDag filed for Chapter 11 bankruptcy in June.
SimDag has resisted selling the vacant 1.5-acre riverfront lot at 111 S Ashley Drive, waiting until the real estate market improves to get a better price. The settlement still needs ratification by the judge assigned to SimDag’s bankruptcy case.