Aqualea Resort Announces that Financing is SecuredBy c.j. pollick
CLEARWATER - Last Friday Aqualea Condominium Resort Hotel announced that it had obtained full project financing provided through Heitman Finanical and Dougherty Funding, LLC. According to Clearwater's Mayor Frank Hibbard, "This is wonderful news . . . it is terrific to see a project of this magnitude and importance to Clearwater Beach continuing to move full speed ahead. It will be a catalyst for positive growth and an important economic generator for tourism dollars and tax revenues on which the City depends." The general contractor, Bovis Lend Lease, expects to complete the 250 suite luxury resort condominium hotel by the fourth quarter of 2009. Management services for the luxury hotel will be provided by Hyatt Corporation. "This is an innovative project for Hyatt and we are looking forward to expanding our management presence in Florida," stated Nick Pritzer, vice-chairman, Global Hyatt Corporation. "This property has a great location on Clearwater Beach and will be a great addition to our collection of Hyatt Resorts." The condominium hotel units are available for fee simple purchase by individual buyers who are free to use them at their leisure or, alternatively, place them into an organized resort management and rental program. According to the press release last Friday, the Clearwater Beach Hyatt resort will have two resort pools, a signature hotel restaurant, poolside bar and grill, fitness facility, beach concession area, spa, Internet access, meeting rooms and ballroom, secured parking and poolside cabanas. For the many local residents and merchants that have been following this Clearwater Beach hotel project Friday's announcement was exciting news. "Let's hope this project finally gets underway," stated one Clearwater beach merchant, "we could use a boost in our local tourism business and this will help." New four-star hotel resort on Clearwater Beach? The Aqualea Condominium Resort Hotel. |