A St. Petersburg developer will replace the Clearwater Beach Hotel with a nine-story hotel, upscale restaurant and spa.
By AARON SHAROCKMAN
Published September 29, 2004
CLEARWATER - After months of talks, a St. Petersburg developer will submit plans to the city today to demolish the landmark Clearwater Beach Hotel and turn the site into a four-star, 251-room resort.
The $60-million project, now called the Sandpearl Resort on Clearwater Beach, would include a spa and fitness center, an upscale restaurant and a series of pools that lead to the Gulf of Mexico.
The nine-story hotel would replace the 137-room Clearwater Beach Hotel, which has been on the beach for more than 85 years, though in its current form only since 1988.
It would also be part of the first wave of hotel redevelopment in decades if developer Mike Cheezem holds to his timetable, which is expected to break ground next summer and be completed in January 2007.
Plans unveiled for the Sandpearl on Tuesday also call for a 5,500-square-foot ballroom and 4,500 square feet of smaller meeting rooms that in total could accommodate between 700 and 1,500 guests, according to industry estimates.
The two-story lobby will be lined in limestone, and offer an unfettered view of the gulf, Cheezem said.
Rooms would cost about $200 a night on average, said Cheezem
"We have a program that accomplishes our goals and reflects the quality of Clearwater Beach," Cheezem said. "A unique boutique hotel will retain a strong sense of individuality to the area."
Cheezem plans to build an $80-million, 150-foot condominium complex next to the resort on Mandalay Avenue.
The 105 condo units at the Sandpearl would range from $400,000 and $1.5-million and penthouse units could cost even more, Cheezem said. Owners would be able to access the resort amenities, including room and maid service.
Another 12 condominium flats would be built on top of 10,000 square feet of retail space that would front Mandalay Avenue.
The condominiums and the resort would be separated by Baymont Street, which would connect the beach with the Intracoastal Waterway. Together, the project would reshape 5.5 acres and 700 feet of beachline.
City officials have long sought an upscale resort to buoy a soft market and an aging hotel stock. Since 1997, occupancy rates on the beach have dropped 9 percent and in 2003, revenue per room sagged below $65 a night.
There hasn't been any new resort construction in more than 15 years. And demand has dropped by more than 100,000 room nights between 2000 and 2003.
To combat the downturn, the city dedicated millions of dollars in infrastructure improvements along the beach. Major streetscape work along Mandalay Avenue at the north end of the beach has already been completed.
