Land sale could clear the way for new hotel

IMRglobal plans to sell some of its land to a developer. A board must sign off on the project.

By CHRISTINA HEADRICK

© St. Petersburg Times, published June 8, 2000

CLEARWATER -- IMRglobal Corp. will sell a piece of its Clearwater campus to a local hotelier to create a long-term stay hotel that would cater to business travelers.

The City Commission, sitting as the board called the Community Redevelopment Agency, is scheduled to vote on the project Monday.

Commissioners will decide whether to amend an agreement between the city and IMRglobal that spelled out how the computer software company could develop its office complex after it acquired the land from the city in 1998.

IMRglobal bought the 1.24-acre downtown property at 1180 Cleveland St. for about $150,000, said Al Justice, IMR's Clearwater developer.

Then IMRglobal invested about $150,000 to convert an existing building and add temporary offices to house 83 employees. But those employees were moved across the street in March to a new building on IMRglobal's primary campus.

IMRglobal is expected to sell the 1.24 acres to hotel developer Paul Simone within two weeks for about $400,000, Justice said.

He will then use the land for a $3-million hotel project, according to Simone. The hotel will contain 60 suites and be 40 feet tall. Simone will own and operate the hotel, but is seeking an affiliation with a hotel chain.

There are at least seven motels near IMRglobal's campus, some of which have been targeted by the Police Department as havens for drug dealing and prostitution. The new hotel would be the first geared toward business travelers, although Simone anticipates hosting vacationers during tourist season.

The hotel will try to open by summer 2001, Simone said. Ideally in the future, Simone would like to acquire adjacent property, which is not owned by IMRglobal, and double the size of the hotel and shoot for a top-bill, five-star rating, he said.

"I'm more excited about this site than anything," Simone said. "I'm a strong believer in downtown Clearwater."

Simone's family businesses own and operate a Comfort Inn on U.S. 19 and the Sleep Inn off Ulmerton Road and they are developing a Holiday Inn in Oldsmar.

Originally IMRglobal considered developing corporate apartments on the 1.24 acres but decided it would be cheaper to sell the land to a hotel developer.

Simone has agreed to allow IMRglobal visitors and employees to stay at the hotel at discounted rates, Justice said.

"This gives us a guarantee over the next five years as to what IMR will be paying (for rooms)," Justice said. "And it avoids IMR having to put out several million dollars to develop the facility itself."

IMRglobal projected to create a $50-million development on the 14 acres it bought from the city in 1998. It also said it would bring up to 1,000 jobs to the Clearwater campus, which is its world headquarters. So far, it has invested about $28-million and created 400 jobs, Justice said.

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