Archives for September 2009

Coral Reef Resort Could Be Redeveloped

There will be a public meeting at 7:30 p.m. Thursday at Warren Webster Community Center, 1500 Pass-a-Grille Way.

The developer, Coral Reef Partners LLC wants to demolish the 45 year old hotel and replace it with a $60 million timeshare or hotel. Plans include a new 12 story building – 10 floors of condos over 2 floors of parking garage. 248 2 bedroom 2 bath units will be approximately 1,000 sf each. Ammenities will include, restaurant, bar, workout center, and meeting space. The 4.28-acre complex, including the existing Coral Reef Resort timeshare buildings, will have three pools and four spas.

The hotel was purchased in 2004 and subsequently condemned for safety reasons. The timeshare buildings on the property are separately owned and remain open, and are considered part of the hotel site plan for zoning and building regulation purposes.

Several development contracts with a major hoteliers have been signed over the years, but never came to pass because of the city’s changing development rules. New regulations were approved last year and officially went into effect this month.

Ovation Receives Certificate of Occupancy

On September 9th, Ovation in Downtown St. Petersburg received it’s Certificate of Occupancy, which declares the 27-story safe to occupy. Finishing touches are still being completed.

Ovation, a luxury waterfront condominium tower, broke ground in February 2007. The 45 estate size residences range from 2374 to 5329 square feet and feature views of downtown St Pete and Tampa Bay. Prices start at $1.2 million and 60% have been sold. In addition to residences Ovation features 17,800 square feet of retail space.

St Pete based developer, JMC Communities has built 12 condo buildings in Pinellas County, including Mandalay Beach Club, Belle Harbor, Meridian on Sand Key, and the Sandpearl Resort and Residences.