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Developer throws in towel on condo plan

By TIMES WIRES
Published August 8, 2007

NEW PORT RICHEY

In late 2005, the city annexed nearly 30 acres of undeveloped property slated for a 500-condominium project called Venetian Isles. But amid what City Manager Scott Miller calls a "nonexistent" condo market, developer Ryland Homes is proposing another use for the Sea Forest Drive property: multifamily rental units. Ryland representatives have been discussing with city officials a move to change their site plan, Miller said in a memo Monday to the City Council. Ryland tried to unload the property last year, listing the land with Tampa broker Bill Eshenbaugh for $12.5-million. There were no takers.

SAFETY HARBOR

Commisioner hits 'Breaking point' 

Safety Harbor City Commissioner James McCormick, who was elected last year, told colleagues Monday night that he will resign. McCormick, 32, is a financial adviser and branch manager of Morgan Stanley's office in Port Richey. "I sought to increase the quality of life, to make it better," he said. "However ... as many of you know, I was elected March 20, my son was born March 21, and I was promoted on April 28. I have been driving an inordinate amount of time to get to my job. As a result of that, the quality of life for my family has declined rapidly." McCormick said he wanted Safety Harbor residents to know that he has tried hard to maintain his commitment to the city, "but there is a breaking point."

[Last modified August 7, 2007, 23:23:34]