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 BELLEVIEW BILTMORE RESORT - IMPORTANT MEETING TONIGHT!
October 19, 2010
Although not on the agenda, the future of the Belleview Biltmore Resort will be discussed at the Town Commission Meeting in Belleair tonight.
As we all know, the wonderful renovation proposed by the current owners, Latitude Management Real Estate Investors (LMREI) stalled when they were sued by three local property owners in Belleair and then when a separate law suit was filed by residents adjacent to the resort property located on Sand Key Beach (The Cabana Club). These legal delays occurred just when the economy went into recession, causing land values to drop and making real estate investment loans nearly impossible to attain.
All of this proved to be a lethal combination of bad luck for LMREI. They lost their investors and have been trying unsuccessfully to find new investors for their renovation project since that time. Now it appears the search is almost over, but not in the way Belleview Biltmore supporters hoped.
The property is nearing sale to new investors, which would mean the planned renovation would probably not take place, at least without significant changes to the original plans. Rumors are flying as to what types of changes would take place, including suggestions that the golf course property and beach property might be sold, and that the Resort might be converted into condos, with additional condos being built nearby on the property.
If you are local, please try to attend the Commission Meeting to show your support for this historic property. The meeting is held at Town Hall, beginning at 7:30 p.m. tonight, Tuesday, October 19, 2010. Here’s the link to the Town of Belleair’s website:
http://www.townofbelleair-fl.gov/
Hope to see you there! If you can’t attend, please send e-mail messages to the Town of Belleair, voicing your support for the grand hotel. Thanks!
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