Archives for October 2009

Coral Reef Developer Outlines Plans

More than 100 people attended a meeting to hear developer Robert Fleeting describe the proposed $60 million, 248-unit, 12-story twin-tower hotel. Many questions were raised including positioning of the new buildings, public beach access, and when construction would start. Another question was will it be a hotel, condotel, or timeshare? That will depend on the the hotelier chosen for the project.
City approval, hotelier agreement, and financing could take up to 10 months Once that is accomplished construction would start within weeks. Fleeting must wait 30 days from last week’s meeting to seek formal site plan approval, but he has already submitted a preliminary site plan.
The old Coral Reef Hotel has been closed since 2004. Two timeshare buildings are open and will be included in a revised site plan to be submitted to the city. Timeshare owners have agreed to be included in the revised site plan.

Failed Redington Shores Condo Becomes Hotel

A hotel, a condo, a hotel again. Benjamin Mallah purchased the Hotel Isis in June and has returned the property back to its original status as a hotel. The previous owners intended to sell the former Marlin Hotel as condo resort, but the project failed.

40 non smoking rooms feature granite countertops, flat-screen TVs, and WiFi.
Room prices currently range from $89 to $199 per night. For more information, call 397-4747 or go to www.isisbeachhotel.com.

Music Producer Buys Treasure Island Tennis & Yacht Club

Treasure Island resident and music producer Bill Edwards has purchased the Treasure Island Tennis & Yacht Club, which has about 700 members. In 2008, the yacht club completed a $7.1 million expansion that adding 30,000 square feet to hold social events and accommodate its growing membership.Seven months later, the club filed for bankruptcy. Edwards bought the bankrupt club for cash. At the time, there was an outstanding mortgage of $8.6M.

After an interior and exterior makeover, Edwards plans to offer Las Vegas-style entertainment, top chefs and amenities at the newly renamed “The Club at Treasure Island”. Initial club memberships sell for $250 (seniors), $900 (single or couple), $1,250 (family of four) or $2,250 (corporate) initially and between $100 and $250 a month thereafter. Members will have use of the clubhouse, fitness center, game room, tennis facilities, pool pavilion, and receive special concierge services, including anytime medical services and special pricing for fitness and beauty services and cruises.

Edwards will use his entertainment business connections to draw big name acts to The Club. Edwards operates Big3 Entertainment and Bill Edwards Presents — recording, touring and promotional companies that represent such stars as Jon Secada, Josh Groban, Toby Keith, Alicia Keys, John Mayer, Cheap Trick, Stryper and Carnie Wilson.