1996 SOUTH MANDALAY REDEVELOPMENT POTENTIAL (2)
III
Redevelopment
Potential
South Mandalay Area
of Clearwater Beach
May 1996
FLORIDA PLANNING GROUP, INC.
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Redevelopment Potential
South Mandalay Area
of Clearwater Beach
I. INTRODUCTION
In January 1996, Florida Planning Group, Inc. was retained by the City of Clearwater to conduct
an initial feasibility study of the overall redevelopment potential of the city's South Mandalay Area.
This area, which is bounded by SR 60 (Marianne Street) to the south, Baymont Street on the
nonh, and runs from the Gulf to the Bay (Map 1), has been under study by the city since April
1994 when the City Commission requested that its staff begin exploring redevelopment options for
the area. The city has good reason for looking at the long-term redevelopment potential of South
Mandalay.
Oearwater Beach has been a successful reson area since the late 1940s, and today the beach area
has thousands of hotel rooms, and is home to 12 percent of the city's residents. The beach area
provides the city with 30 percent of its property taxes and is a regional economic base industry that
provides thousands of jobs. However, as this area's older properties (many are now fifty years
old) become increasingly obsolete in the marketplace, they decline in value. The drop in value
results in a drop in city revenue, which directly affects the city's ability to provide necessary public
services. The city has another, perhaps more significant reason for acting to accelerate the
modernization and redevelopment process of this area. Every reson location has a 'public
perception' in the marketplace. The public perception of an area sets a general tenor for
establishing both the types of people that will visit the area, and the type of new development that
may or may not occur.
Thus, if an area looks like it is declining, it can become a self-fulfilling prophecy, as potential
investors, and then visitors, shy away from a place that does not appear to have good long-term
potential. This is what happened in Miami Beach's South Beach area, as well as in Fon
Lauderdale Beach. Both of these reson areas went through a long period of decline and
disinvesnnent before they were redeveloped. Now, after long redevelopment efforts, both are
successfully repositioning themselves in the increasingly competitive international reson market.
The city of Oearwater is wise to begin its redevelopment efforts at such an early stage, when it can
be a facilitator in the ongoing modernization and enhancement of the collective value of the area,
rather than waiting until the deterioration becomes widespread.
Why Cities Engage in Redevelopment
It is an unfonunate fact of life that buildings, like people, get old and wear out. Generally this is a
long-term process; an area will age and grow obsolete and eventually cycle its way downward into
less viable economic uses. Such a situation huns a city's tax base, and blight tends to act like a
cancer, spreading into adjacent healthy areas of the city, huning everyone's property values.
FLORIDA PLANNING GROUP, INC.
CII YOlo CLJ:ARWATER
1.513V96
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Very Few
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As the preceding graphic illustrates, every community can expect that, as its structures and
neighborhoods age, it will be faced with the problems of decline and disinvesment. Cognizant of
this fact, every state in the nation has empowered its local governments to engage in
redevelopment In Florida it is called the Community Redevelopment Act.
Successful Redevelopment
Successful redevelopment is always based on a combination of public and private actions. While
the city can act as a facilitator and participant in the overall process, all the city can really do is set
the stage. Private sector participation is required, but this participation is dependent on marlcet
forces. For example, while the city may wish to see an older, deteriorating area redeveloped, two
other criteria must be met before redevelopment will actually occur. First, there must be a market
for a new use. Someone must want to reuse the parcel. Second, the new use generally should be
able to pay for the acquisition costs of the existing property. For example, if the city designates a
city block, comprised of older one-story buildings, for redevelopment, the costs of acquisition of
the properties, all relocation, appraisal and legal fees, demolition, and clearance of the site must be
paid for by someone. Unless the city has the ability to absorb these costs, the new use must be
able to pay the acquisition cost
The following chan illustrates this process. The city of Clearwater's ongoing planning effons
have begun the analysis of desirable future land uses in the South Mandalay Redevelopment Area.
The purpose of this study is to look at the other two aspects of the redevelopment mangle to
answer two critical questions: is there a market for the new uses contemplated by the city; and can
the land needed for those new uses be acquired at a price that the proposed new use can afford to
pay?
ClfY 01' CLEARWATER
I'LORlDA PLANNING GROUP,INC.
2 . S128196
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ClR.1rlr1E1UA FOIR IRIBIDlEVlELOIPMEN'lI'
LAND
USE
A market for the
proposed project
must exist
Must meet
community goals
for the propeny.
ACQUISmON
COSTS
The proposed reuse
should be able to pay
for the acquisition of
the property.
This market-based approach to redevelopment is very realistic, for unless all three items are
satisfied, redevelopment will not occur. Such an approach is pragmatic, by providing the city with
the ability to set the stage for redevelopment without incurring any significant up-front expenses.
The city can then be in a position to proactively market the redevelopment potential of the area, and
participate in a public/private redevelopment partnership in concert with the private sector.
The City's Role
In addition to its role in fonning and leading the redevelopment process, the city has one critical
ability that private developers lack: land assemblage. Under its redevelopment powers, the city can
assemble land, which is often a critical component in the redevelopment process. Most city blocks
are held under a multiplicity of ownership, which makes it difficult for the private sector to
assemble the land needed for redevelopment In addition to its critical role in land assemblage, the
city can also provide zoning changes and public infrastructure improvements in suppon of its
redevelopment partnership program.
The South Mandalay Area
The South Mandalay area of Clearwater Beach is an area that is slowly growing obsolete and
deserves anention. Most of the area was built in the 1950s and 1960s, and reflects design ideas of
that time period. As the area has aged, many of the older structures and housing have grown
obsolete by today's design standards and are beginning to deteriorate. The area is broken into
many small lots (Map 2), under different ownership, and the street and parking layout is highly
inefficient. As a result. it appears that the South Mandalay area meets the state law requirements for
designation as a community redevelopment area.
Of more direct concern for the city is the under-valuation of the property in South Mandalay. By
way of illustration, sector one (Map 3), which extends from Papaya Street nonh to Baymant and
from Mandalay Avenue to the beach, currently has a total assessed value of $4.5 million, which is
less than half of the value ($9.8 million) of the Doubletree Hotel that is directly south of this sector,
on approximately the same size site. By way of funher example, the newer and more modem
Sheraton at Sand Key is valued at three times the total value of sector one. In addition to the
under-valued propeny, the inefficient street layout of the area, if corrected, could produce highly
Cll YOI' CLEARWAIER
FLORIDA PLAN MM. GROUP, INC.
3 . 5128/96
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valuable surplus right-of-way which would then be available for future development Similar
sectors within this area are also under utilized. At a minimum, redevelopment of this area into
modem, higher value uses will significantly increase the city's tax base.
One cannot look at the South Mandalay area by itself when thinking about the long-term future of
the area, for it is an integral pan of what should really be looked at by the city as pan of the
'Oearwater Beach Resort Complex.' In many respects, the South Mandalay area serves as the
commercial area for all the beach hotels, as well as for the beach area itself. While the cmrent retail
mix is primarily targeted toward tourists, the area's stores, restaurants and bars also serve the
Greater Tampa Bay market Providing the area with a strong symbiotic relationship with the rest
of the island and the region.
CIa 01' CLt.:.ARWAII:;K
I'LORIDA PLANNING GROUP, INC.
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II. OVERALL MARKET CONDITIONS
The purpose of this section is ~o look at the overall market potential for the types of uses that could
be expected to locate at Clearwater Beach. These include: reson hotels, marinas, upper-end
condominiums and general commerciallretail facilities.
Oearwater Beach primarily serves and depends on two large markets: tourists, who visit from
outside the region, and local residents from the surrounding four-county region (Pinellas,
Hillsborough, Pasco and Polk) who also visit and vacation at the beach.
Tourism
The tourism industry is always dependent on a number of external factors, which are usually
outside the control of local governments. The overall economic picture, exchange rates, and even
public perceptions can affect the local market. WiOless the big drop in tourism visitations to
Florida in 1994, following the highly publicized tourist murders. Tourism has since rebounded,
and is now projected by the state to continue its slow growth above its very substantial base of
approximating fony million visitors each year. The St. Petersburg/Clearwater area has maintained
a fairly stable percentage of the state's overall tourism, which reflects the area's established image
as a beach reson. Interestingly, in 1994, when tourism was down across the state, the local area's
numbers edged up slightly, which again reflects the area's relative strength in the worldwide
(especially overseas) tourism marketplace. The state Department of Commerce is projecting that
tourism will continue to grow over the next several years, which should also increase the city's
tourism numbers.
Projected Tourism Visitors
St. Petersburg!
Clearwater:
Florida.
1993
1994
1995
1996 (projected)
1997
41 million
40 million
41 million
42 million
43 million
3.86 million
3.9 million
3.9 million'
4.0 million
4.1 million
1. Rorida Deparunent of Commerce, Office of Tourism and Research, 1996.
2. Research Data Services, Inc., 1995.
3. Projected by Florida Planning Group, Inc. 1996.
As this table illustrates, the number of tourists visiting the area is expected to slowly grow by
approximately 100,000 additional people each year.
Population Growth
Oearwater Beach also serves a regional population who periodically use the beach. Fueled by the
growing Tampa Bay regional economy strong population growth within the region is expected to
ClrY 01' CL};AR WATER
I'LORlDA PLANNll\G GROUP, lNC.
5 . 5fJ.8I96
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continue far into the future. As the following table displays, the region is expected to add about
33,000 new people every year for the foreseeable future.
Regional Population Growthl
1990 1995 2000 2005
Census Estimate Projected Projected
Pinellas 851,659 878,300 914,800 948,500
Hillsborough 834,054 893,800 963,700 1,026,100
Pasco 281,131 305,700 338,300 367,900
Polk 405,382 445,100 483,200 517,800
Total 2,372,226 2,533,900 2,700,000 2,860,300
Change 161,674 166,000 160,300
I. Bureau oCEtonomic and Business Research, Statistical Abstract. 1995.
In addition to the strong population growth, the Tampa Bay region, contrary to state and national
trends, will become slightly younger in the future, as the proponion of elderly among the new
anivals continues to decline. All of this bodes well for the beach area, where the primary local
users of Clearwater Beach are under-45 households and families.
Clearwater Market Region
Change in Age Makeup 1994 to 2005
Under 24 25 to 64 Over 65 Total
2005 817,291 1,456,199 586,811 2,862,306
1994 74,318 1,230,919 520,610 2,486,841
Total 82,973 225,280 66,201 374,465
22.2 % 60.2% 17.7% 100.0%
Source: Florida Statistical Abstract. 1995, BEBR.
Florida Planning Group, Inc. 1996
As this table indicates, the Tampa Bay region is attracting an increasing number of younger
families and households, who have the highest propensity to frequent the beaches.
Income
The city's median household income in 1995 is slightly lower than the state and county medians.
This reflects the higher than average number of retired households in the community, who
generally show lower incomes after retirement although these households have high household
ClfY 01' CLURWA1ER
I'LORIDA I'LANNI~G GROUP, INC.
, . 51'18196
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levels. Map 4 displays the median household incomes by census tract in 1995 and Map 5 displays
the area's household wealth patterns.
Median Household Income
1990
1995
Estimated
2000
Projected
Clearwater
Pinellas County
Florida
$26,578
26,310
27,514
$27,940
28,200
29,768
$28,948
29,258
30,694
Sowce: Clarita.s. Int:., 1996.
7 . 5128196
FLORIDA PLANNING GROUP, lNC.
CITY 0.. CLEARWATER
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Median Household Income
1995
. Under $20,000
. $20 to 30,000
. $30 to 40,000
. $40 to 50,000
. $50 to 75,000
DOver $75,000
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Median Household Wealth 6
1995
. Under $25,000
. $25 to 50,000
. $50 to 75,000
. $75 to 100,000
DOver $100,000
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III. OVERALL MARKET POTENTIAL
As pan of this study, the overall market potential for a number of potential reuses were examined.
1. Mid-to-High End Resort Hotel
To say that Oearwater Beach offers a wide range of room rental choices understates the area's true
market mix. Its hotel inventory currently ranges from privately owned condos, through 1950 and
60s style individually owned motels (commonly called mom and pop motels), to the national chain
reson and convention hotels, like the Radisson at Sand Key. Depending on the choice, average
room rates at the beach range from $40 to $250 a night. Off-season rates are generally 60-75
percent of the peak winter season (January-May) rates.
There is a growing dichotomy in the market's response to the different types of hotel 'product'
currently offered at the beach. Statistical evidence is showing that while the larger, primarily chain
hotels are doing extremely well, with annual occupancy rates above the 70 percent occupancy rate
(the standard for a successful hotel operation), the smaller older mom and pop operations are
beginning to struggle, and some are seeing an overall decline in their occupancies. .
The St. Petersburg/Clearwater Area Convention and Visitors Bureau has an ongoing contract with
Research Data Services, Inc. to track the area's hotel occupancy and room rates. While the
specifics of the information gathered by the Bureau are proprietary in nature, and thus not available
for release to the general public, their statistics suppon this finding.
The difference should not be a surprise in the context of the hotel industry's marketplace. While
overseas tourists still typically takes long vacations, the trend in America is toward shorter, three to
five day get-aways. However, both of these markets are becoming increasingly influenced by the
'known commodity concept,' that the national hotel chains and resorts such as Disney embody.
With less time, the average tourist is much more likely to depend on a name brand hotel or even a
tour boat than to experiment. Thus, the known commodity concept.
In addition to their inherent advantages in mass marketing, the chains also have sophisticated
methods of networking with travel agents, airlines, and corporate convention planners to enhance
their bookings. Single location operators typically lack this network. During the last five years,
the national hotel chains have also been engaged in establishing tiered market versions of
themselves (high, medium and low price range) to expand their overall market shares. This
strategy will steal market share from local single store operators.
These structural changes in the hotel industry mean, that unless a local motel can establish a true
market niche, through the uniqueness of the product it provides, or has built up a following of
loyal customers, it will have difficult time retaining market share and profitability in the future.
Additional national hotels at the beach will accelerate this difficulty. Lacking a strong cash flow,
many of the area's small motels will ultimately be unable to upgrade and modernize their
operations, and will close or be forced to economically cycle their buildings downward to
deterioration and/or abandonment, damaging the city's image as a world class reson destination in
the process.
While the ongoing shift in the hospitality marketplace, and the strong showing of the area's chain
hotels is probably well known within the hotel industry, the current lack of a~~able. waterfr?nt
sites has effectively precluded new development However, based on the stansncal infonnanon
available, which combines overall hotel occupancies with the strong tourism market (especially
from overseas), and the growing regional economy, the beach area could support an additional 500
CUY Of CLtARWATER
8 . 5128196
f'LORIDA PLANNII'G GROUP, INC.
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higher-end resort hotel rooms, or at least two additional hotels. (The increase in tourism numbers
alone suppon an additional 350 - 490 rooms.)
A long-range shift of the beach's hotel market mix away from the lower end of the hotel rental
market towards the higher end has the potential to strengthen the retail and restaurant markets
within the area, as the customer mix changes and per person expenditure rates rise. For example,
because the daily expenditure rate for the typical reson hotel visitor is almost twice what it is for a
small unit hotel, visitors at higher-end hotels are expected to spend more in the local shops and
restaurants.
2.
Marina
In 1984, the Department of Natural Resources (DNR) conducted an internal, statewide study on
the future demand for marina slips in Florida. DNR was cognizant that while its environmental
concerns with marinas were legitimate, there was a growing demand for marinas that was not
being met. DNR, now the Department of Environmental Protection (DEP) , acknowledged the
need for additional marinas, but stayed firmly on the side of the environment. The department's
strict pennitting process has reinforced the shonage of marina slips throughout Florida.
There were 42,687 registered pleasure boats in Pinellas County in 1994. Of particular interest are
boats over 25 feet in length which are difficult to transpon. These are the boats most likely to be
benhed in a wet slip. Thus, while DEP estimates that 11 percent of all pleasure boats will be wet
slipped, this number rises to 67 percent for all boats over 25 feet - There are 21,043 boats over 16
feet long and 4,692 boats over 26 feet registered in Pinellas County. By comparison, the state
estimates that there are approximately 3,500 to 4,000 marina slips available within the county.
Thus, a strong market for additional marina slips exists today, and will continue to exist into the
foreseeable future.
A strict permitting process does not completely preclude the construction of a new marina. Based
on discussions with cities in similar situations, in order to successfully expand the number of local
marina slips the city must develop a master plan for marina expansion for all of Oearwater Bay.
The city must also be willing to comply, on an ongoing basis, with DEP's legitimate environmental
concerns.
The city's existing marina, on the south side of SR 60, is immediately adjacent to the South
Mandalay area. Its locations is advantageous because the city may be able to expand the
availability of docking space by adding additional slips, rather than building a new marina.
In addition to the visual and property value enhancement that a marina provides to a waterfront
activity zone, additional slips and docking space also bring maritime customers to the area's
commercial establishments.
3.
Housing
The strong market for waterfront condominium units in southwest Florida (including the
Clearwater area) is being driven both by the continued stream of retirees choosing to locate in
southwest (rather than southeast) Florida and by a growing number of foreign (primarily
European) buyers. The state projects continued growth in this market far into the future. For the
past five years t!te city has permitted the construc?~n of an annual average. of ~~ hig~er~nd
condominium UnIts at the beach. However, COndOmInIUm developers are now In a SImilar SItuatIOn
to potential hotel developers, facing the lack of available, buildable sites. The lack of available land
will continue to hinder hotel and condominium development.
Cll Y 01' CLJ:AKWATLK
I'LOK1DA PLANNING GROUP, INC.
9 . 5/2.8196
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IT there was available land, the city could expect to see the continued construction of similar type
luxury condominium units at current levels well into the foreseeable future. This market demand
could suppon the annual construction of two 120 to 150 unit mid-rise buildings for the next five
years.
4. Multi-Use Commercial/Recreational Facilities
The multiplicity of ownership, and the ad-hoc development pattern in the South Mandalay area,
coupled with the lack of and strong waterfront commercial focus, have contributed to restraining
the necessary commercial modernization and growth that the area needs and could suppon. As a
result, the current commercial market mix is focused on the local common denominator: the tourist
With two million visitors a year, and serving a two and a half million person metropolitan area,
Clearwater Beach meets the basic demographic criteria for almost every chain restaurant and
specialty retail outlet operating in the county. The facilities most likely to find Clearwater Beach
attractive will be those that have successfully operated in existing festival marketplace waterfront
venue type operations. However, the disjointed development pattern of the area precludes the
necessary symbiotic relationship from occurring between the hotels, restaurants, shops and
entertainment venues,
One of the major underlying design considerations for the redevelopment of the area is that the city
must 'design in' the cross connections that will link together the existing and new commercial
facilities. This linkage should be copied from the most successful festival marketplace centers.
IT the district were organized as a single retail unit (even if held in diverse ownership), and laid out
in a more conventional, symbiotic manner (especially if more facilities were oriented towards the
Gulf or bay-front) the area has a significant unrealized market potential for additional commercial
facilities. New commercial development should utilize the 60/40 rule of thumb for festival type
marketplaces, where 60 percent of the new space is utilized by bars/restaurants and 40 percent is
retail. Interestingly, increasing the number of restaurants and shops at the beach will have the
effect of increasing the business for all the businesses there, by creating enough critical mass to
make the area a 'destination' in the eyes of the regional marketplace.
A similar potential exists for the area's local/regional commercial markets. At present the area has
not yet made itself into a true 'day trip/weekend' destination for the in-Florida market, like a St.
Augustine, Cedar Key, or even Mt. Dora. Such an addition to the area's current marketing focus
could significantly expand the scope of the area's overall market potential. Additional restaurant!
shopping/entenainment opponunities at the beach would also help through their symbiotic
relationship to strengthen the overall tourism and hotel markets.
FLORIDA I'LANl\li\G GROUP,lIljC.
Cll Y Of CLEARWATER
10.5128/96
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IV. REDEVELOPMENT POTENTIAL
As noted in the introduction, even if a market exists for a particular type of use, unless there is a
site available that meets the unique spatialllocational requirements of that use, and that can be
acquired at a cost that the new use can afford to pay, then redevelopment will not occur. The
purpose of this section is to evaluate if the existing area can meet this criteria.
The Pinellas County Propeny Appraiser's data files were accessed to develop the total appraised
values of the various city blocks that make up the South Mandalay area. As Map 2 illustrates, the
project area is cmrently divided into many small pieces of property which, would need to be
pmchased to assemble a site large enough for any major new development to occur. Although the
appraised value is often a good indicator of a propeny' s current value, under a condemnation
scenario, fair market value, business or residential relocation costs, site clearing, appraisals, legal
and administrative costS all must also be included if a realistic estimate of the total acquisition cost
is to be made.
In addition to the assessed values, a visual survey of the area was made to identify those properties
and businesses (Barnett Bank is a good example) that would be expected to stay in the area under
any redevelopment scenario.
Using this baseline criteria, three sectors of the South Mandalay area appear to have redevelopment
potential: sector one, which is the beach front property north of Papaya Street; sector two, the
bayfront property from Marianne Street (SR 60) to Papaya; and sector three, the bayfront from
Papaya to Baymont Street. Map 6 illustrates their locations. The following table estimates the
acquisition cost of the private property located within these sectors.
~
Estimated Total Acquisition Costs
Area Low Ranee Hieh Ranee
Sector One: $ 4,700,000 $ 9,400,000
Sector Two: $ 3,500,000 $ 7,000,000
Sector Three: $ 2,600,000 $ 5,200,000
In order to support such high acquisition costs, any new development will obviously need to
intensify the uses on the property. However, because there is excess road right-of-way (Map 6)
within the area, the city gains this valuable real estate in a redevelopment scenario, which reduces
the overall acquisition cost on a per acre basis. The following table displays this reduction.
Cll Y OF CLEAR W A 1 ER
I'LORlDA PLANl'dJ\G GROUP,lNl:.
11.613196
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Cost per Acre
Area Acres Low Hi2h
Sector One 3.799 $1.24 million $ 2.38 million
ROW 1.033 $ 0 $ 0
Total: 4.832 $0.97 milliom to $ 1.27 million
Sector Two 4.109 $0.86 million $ 1.73 million
ROW 0.964 $ 0 $ 0
Total: 5.073 $0.70 million to $ 1.23 million
Sector Three 3.570 $0.73 million $ 1.43 million
ROW 0.689 $ 0 $ 0
Total: 4.259 $0.61 million to $ 1.19 million
As this table shows, including the excess right-of-way significantly reduces the overall cost of the
propenies on a per acre basis, maJdngfuture redevelopment financially feasible.
The next step in the feasibility process is to estimate whether a single use, or a combination of uses
could afford to pay these prices for an assembled site. Note: It is a rule of thumb that land costs
should generally not exceed ten percent of the overall commercial project cost; however, in beach
settings, the intrinsic value of the propeny highly skewers this rule.
Sector one is a prime location for an oceanfront reson hotel. The approximately five acre site
would provide enough room for one large hotel, including necessary on-site parking, or two
smaller hotels with structured parking. Utilizing comparable land values at other beach front hotels
in the area (see appendix), and assuming that the total complex on this parcel would contain 450
rooms with supporting commercial facilities along Mandalay, a proposed new reson hotel
development could suppon the acquisition cost of this propeny. (Note: A smaller hotel could also
be built on a portion of this site.) Current density levels for this area would allow an
approximately 300-unit hotel to be built on the site, so some increased density allowance may need
to be considered by the city as pan of a future redevelopment program.
Sectors two and three appear to be prime locations for the construction of two mid-rise
condominium developments (approximately 300 units in total) in combination with waterfront
commercial facilities. At current (or slightly higher) densities for this type of development, and
assuming that significant emphasis would be placed on siting commercial waterfront out-parcels,
these proposed reuses could suppon the acquisition costs for these sectors. (Note: This area could
also be developed incrementally.) As with sector one, some increase in density and intensity of
uses in this area may be necessary in order to increase the commercial opportunities available, and
to pay for the acquisition and development costs.
In conclusion, the redevelopment potential of the South Mandalay area meets the three conditions
for successful redevelopment: (1) it meets the city's overall development plan for the area, (2) a
markeQ( exist for the uses envisioned, and (3) the land that would be needed for future
redevelopment can be acquired for a cost that the new uses can suppon.
CITY Of CLEAR WATER
fLORlDA l)LANNl~G GROUP,lNC.
12 . 6/3/96
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Potential Redevelopment Areas
Map Six
South Mandalay Area
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Map Seven
South Mandalay Area
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General Development Concept
Map Eight
South Mandalay Area
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v . VALUE-ADDED SITE AMENITIES
As part of this study, the 'value-added' potential of a number of existing and proposed site
amenities were looked at. These site amenities could be built by the city or by a developer, or even
shared. The purpose of this section is to evaluate some potential amenities that would strengthen
the attraetiveness and propeny values of the area.
1. Civic Center Relocation
The city's old civic center is located on one of the traffic islands that separate the east and west
lanes of SR 60. The need for this facility is reduced, if not eliminated, by the new Clearwater
Beach Recreation Center and the improved accessibility via the new Clearwater Beach Bridge to the
Sailing Center of Sand Key. The city should demolish this snucture and replace it with another
use.
The city may want to consider relocating the US 60 corridor to a single side, freeing the current
underutilized islands for commercial development, in conjunction with a South Mandalay
redevelopment program.
2. Landscaping and Streetscaping
The value added to local property values from streetscaping and landscaping has been so
successfully proven, in so many venues, that its importance in new development and
redevelopment is now a' given. The entire Clearwater Beach area should have a unified, clearly
recognizable streetscapellandscaping look that carries over into both the public and private sector.
Once again, the importance of appearances is a critical detenninant for how people view an area.
By way of example, both Miami Beach and Fort Lauderdale have invested heavily in their public
landscaping and streetscaping programs.
Although it is outside the scope of this project, there is also a need to reexamine the traffic flow,
the important pedestrian flow for the whole beach area. Sidewalks, in a number of areas, need to
be widened, and wherever possible, covered. Although the area handles a large amount of traffic
on a routine basis, the transportation pattern needs to be redesigned to facilitate pedestrian travel as
much as possible, especially in off-peak and weekend situations. The whole system of roads,
sidewalks and parking needs to be designed to be flexible enough so that it can change to suit the
particular user needs (both cars and people) that will vary with the season, and even the time of
day.
While the city can adopt new development standards to effect gradual change over time, in order to
create a dramatic change, the city should plan to landscape and streetscape the whole Clearwater
Beach commercial resort area, as well as the South Mandalay area. While some of these
improvements can be made concurrent with new development, general stteetscape improvements
will enhance the existing value of the area, and should precede irrespective of redevelopment plans.
3. Harbor Walk
A continuous linear park, along the harbor from SR 60 north to Baymont Street, would be a major
prerequisite for opening the harbor to commercial development. As noted in the market study
portion of this report, th~s area would be an excellent l~ation for the addition. of a large n~ber of
boat slips, and a pedestnan accessway would .serve thIS. use as ~el1. More unportant, ~ would
provide a place for people to gather together m a beaunful semng. By way of companson, Fort
CllY Or C~RWArJ:;R
r WRlDA PLANNING GROUP, INC.
13 . 6/3/96
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Lauderdale estimates that its harbor walk brings an additional one million visitors a year to the city.
This amenity would cost in the $3-4 million range, including the additional marina slips that would
be constructed.
4. Papaya Street Pedestrian MalllBaymont Street Walk
Papaya and Baymont serve as the two main east/west cross connectors for the area, and should not
be closed to vehicle traffic. However, both these streets could have their sidewalks widened so
that they can selVe the very imponant function of providing an interesting, attractive, pedestrian
cross-connection between the beach and the bay.
s. Additional Public Waterfront Parks
There does not appear to be a need for additional public recreational areas in South Mandalay. The
beach is currently an underutilized asset, and the open space on both sides of the Oearwater Bay
causeway currently meet the need for this type of amenity.
6. Outdoor Commercial Recreation
In the city's initial redevelopment plan envisioned utilizing some of the area for low density,
family-oriented outdoor commercial recreation facilities, such as a miniature golf course facility.
While the addition of such facilities is cenainly desirable, this type of operation cannot suppon the
high land acquisition costs that the redevelopment of this area will require.
Outdoor commercial recreation facilities are cenainly needed at the beach, but these uses would be
better simated on underutilized parcels, closer to the beach itself.
7. Public Parking Garage
The city is wise to insist that there be a market for a structured parking garage before construeting
one. At the time of this report, the city's consulting engineers have projected that there is currently
not a need for a public parking garage in this area. This may not preclude the need for Strucmred
parking as part of a more intensive redevelopment scenario in the furore, at which time the city may
find it cost-effective to panicipate in a joint venture to share space in a garage with a private
developer.
Cll Y 01' CLEARWATER
FLORIDA PLANNING GROUP, INC.
14.5131/H
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VI. POTENTIAL FOR INCREASED REVENUES.
Although it is outside the scope of this project to estimate the full positive economic impact of a
future redevelopment program, an estimate of the potential increase in the city's ad valorem taxes
can be made relatively easily, which can show the immense difference in property values that could
be created The cmrent collective ad valorem value of the three sectors that have been identified as
having the best potential for redevelopment is currently around $11 million. Under the total
redevelopment program envisioned in the city's redevelopment program, with the construction of
an additional reson hotel, 300 additional condominium units, and additional commercial space, the
collective ad valorem value from these new developments could be in excess of $100 million,
which would provide the city with a dramatic increase in revenue.
K-Ia
I-WKIDA PLANNING GROUP, INC.
CITY 01- CLl\.AKWATI:;K
15 . 5/28196
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Appendix
Florida Planning Group, Ine.
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ApPENDIX CONTENTS
ONE
TWO
THREE
FOUR
FIVE
SIX
H-112
Propeny Appraisal Report Data for the South Mandalay Area
Oearwater Market Region, Change in Age Makeup, 1994 to 2005
Vessels Registered in Florida, FY 1994195
Comparable Resort Hotel Values/Condominium Values
Household Age by Income Repons, 1990-95-2000
1995 Visitor Profile Repons - St. PetersburglOearwater Area Convention and
Visitors Bureau
CITY 01' CLEARWATER
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Sheet1
I Appendix
I City of Clearwater
South MandaJey Redevelopment Area
Property Appraisal Report
I Sector One: Papaya to Baymant, Manda/ay to Seach
C To
Martcet
I o CoRawn Income
duntnglhl luRldI Implied Just Cost Estimated
e y . p SedIon vision Lot Just Value Va'" Approactl Value
I B ,15 29 08, 16398 ,000 ,OOSO, $ 191,300 $ S 191,300
C ,152908, 16398 ,000 ,0090, $ 318,800 $ 55,200 M, S 318,800
o ,152908, 16398 ,000 ,0140, $ 438,600 $ 292.400 M, $ 438,600
E ,152908, 16398 ,000 ,0190, $ 489,100 $ 284,900 M, $ 489,100
I F ,152908, 16398 .000 ,0290, $ 185.100 $ , $ 185,100
G ,152908, 16398 ,000 ,0330, $ 247,700 $ 195,000 I, S 247.700
H,152908, 16398 ,000 ,0390, $ 98,900 $ 52,100 I, $ 98,900
I I ,15 2908, 16398 ,000 ,0410. $ 85.000 $ 42.500 , $ 85,000
J ,152908, 16398 ,000 ,0430. $ 692.300 $ 481,800 , S 692,300
K ,152908, 16398 ,000 ,0490, $ 187,000 $ 8,800 , $ 187,000
N ,152908, 16398 ,000 ,0720, $ 106,300 $ 275,500 I, S 275,500
I o ,152908, 16398 ,000 ,0740, $ 212,500 $ , $ 212,500
P ,152908, 16398 ,000 ,0780, $ 106,300 $ 107,800 , $ 107,800
a ,152908, 16398 ,000 ,0800, $ 212,500 $ 310,200 I, S 310.200
I R ,152908, 16398 ,000 ,0840, $ 52.300 $ 21.200 , S 52,300
R ,152908, 16398 ,000 ,0850, $ 28,100 $ 40,100 I, S 40,100
5,152908, 29251 ,000 ,0001, $ $ S
5.152908, 29251 ,000 ,0010, $ $ 190,700 $ 190,700
I 5 ,15 2908, 29251 ,000 ,0020, $ $ 193.800 $ 193,800
S ,152908. 29251 ,000 ,0030, $ $ 190,700 $ 190,700
5 ,152908, 29251 ,000 ,0040, $ $ 193,800 S 193,800
I Total: $ 3,651,800 $ 2,936,500 $ 4,701,200
AcNs
Estimated Land 3.799
ROW 1.033
I Total: 4.832
Remainder of Block
A .15 29 08. 16398 ,000 ,0010. $ 516,000 $ 453,300 I,
I L ,152908. 16398 ,000 .0530, $ 214,200 $ 142,800 M,
M ,152908, 16398 ,000 ,0570, $ 376.300 $ 231.700 ,
$ 1,106,500 $ 827,800
Clearwater Beach
I ,152908, o ,220 ,0100, $ 2,683,300 $
Double TrH Hotel Site
I ,152908, o ,230 ,0100, S 9,630,000 S 12,384,200 I,
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Sheet1
South Mandaley Redevelopment Area
Property Appraisal Report
Sector Two: Marianne to Papaya, Polnsetta to the Bay
c To
Marut
OCoRawn Incollltl
d unt ng shI lubeSl implied Just Cost Estimatlld
. Y . P SecIIon vIIIon Lot Just Value Value Approach Value
,152908, 2592 ,002 ,0010, $ 237,400 $ 232,900 , $ 237,400
,152908, 2592 ,002 ,0040, $ 102,000 $ 85,000 M, $ 102,000
,152908, 2592 ,002 .0050, $ 156,400 $ 58,800 , $ 156,400
,152908, 2592 ,002 ,0070, $ 78,200 $ 70,900 I, $ 78,200
,152908, 2592 ,002 ,0080, $ 78,200 $ 3,500 , S 78,200
,15 29 08, 2592 ,002 ,0090, $ 156,400 S 149,600 M, S 156,400
,152908, 2592 ,002 ,0110, $ 78.200 $ 69,200 I, $ 78.200
,152908, 2592 ,002 ,0120, $ 412,800 $ 619.200 M, S 619.200
,152908. 2592 ,003 ,0010, $ 191,300 $ 78,500 I, S 191,300
.152908, 2592 ,003 ,0020. $ 170,000 $ 70,100 I, S 170,000
,152908. 2592 .003 ,0030. $ 301.000 $ 121,100 I, $ 301,000
.152908, 2592 ,003 ,OOSO, $ 102,600 $ 50,400 , $ 102,600
,152908, 2592 ,003 ,0070, $ 335,400 $ 223,600 M, $ 335,400
,152908, 2592 ,003 ,0100, $ 1n,9OO $ 119,600 M, $ 1n,9OO
,152908, 2592 ,003 ,0120, $ 190,000 $ 14,000 M, $ 190,000
,152908, 2592 ,003 ,0130, $ 228,700 $ 43,300 M, $ 228,700
,152908, 2592 ,003 ,0140, $ 344,000 $ 173,600 I, $ 344.000
Total: $ 3.340,500 $ 2,183,300 $ 3,54&,900
Acr-.
Estimated Land 4.109
ROW 0.964
Total: 5.073
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Sheet1
City of Clearwater
South Mandaley Redevelopment Area
Property Appraisal Report
Sector Three: Papaya to Baymont, Po/nsetts to Bay
C
To Market
o CoRawn Income
d unt na lIt1I SUtldI implied JuIt Cosc Estimated
. y . p Secaon VlIlan Lot Just VII_ YaM Approa:h Value
,is 2908, 16434 ,002 ,0010, $ 78,900 $ 206,300 I, $ 206,300
,15 29 08. 16434 ,002 .0020, $ 159,800 $ 79,900 , $ 159.800
,152908, 16434 ,002 ,0021, $ 144.600 $ 2,300 , $ 144,600
,152908, 16434 ,002 ,0060, $ 157,800 $ 93,700 , $ 157,800
,is 29 oa, 16434 ,002 ,0080, $ 45,900 $ 21,000 I $ 45,900
,152908. 16434 ,002 ,0081, $ 30,800 $ 13,400 I $ 30,800
,is 2908, 16434 ,002 ,0090, $ 75,400 $ 16,000 I $ 75,400
,152908, 16434 ,002 ,0100. $ 157,800 $ 139,700 M, $ 157,800
,is 2908, 16434 ,002 ,0120, $ 75.400 $ 61,200 I $ 75,400
,152908, 16434 ,002 ,0130, $ 78.200 $ 61,200 , $ 78,200
,152908, 16434 ,002 ,0140, $ 75,400 $ 32,300 , $ 75.400
,15 29 oa, 16434 ,002 ,0150, $ 102,000 $ 153,000 M, $ 153,000
,152908. 16434 ,003 ,0050, $ 152,500 $ 55,800 M, S 152,500
,152908, 16434 .003 ,0060, S 305,000 S 35,000 M, $ 305,000
,is 2908, 16434 ,003 ,0080, $ 266,900 $ 56,000 I, $ 266,900
,152908, 16434 ,003 ,0100, $ 514,900 $ 21,100 , $ 514,900
Total: $ 2.421,300 $ 1,047,900 $ 2,599,700
Estimated Land 3.570
ROW 0.689
Total: 4.259
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Sheet1
City of Clearwater
South Mandaley Redevelopment Area
Property Appraisal Report
Sector Four: Marianne to Papaya, Manda/ay to Po/nsetta
C To
"rkilt
OCoRawn Income
duntngshl Subdl implied Just Cost Estimat8d
e y . p Sedian vision Lot Just V.1ue v..... Appn.dI Value
,1529 oa, 2592 .001 ,0010, $ 112,500 S 144,600 , $ 144.600
,152908, 2592 ,001 ,0030, $ 52,800 $ 41,700 I, S 52,BOO
,152908, 2592 ,001 ,0040, $ 62,000 $ 30,400 I, S 62.000
,152908, 2592 ,001 ,0050, S 195,000 $ 6,000 , $ 195,000
,152908, 2592 ,001 ,0070, S 556,900 $ 525,100 , $ 556,900
,152908, 2592 ,001 ,0110, $ 114,800 $ 114,400 I, S 114,800
,152908, 2592 ,001 ,0130, S 57,400 S 114,800 I, S 114,BOO
,152908. 2592 ,001 ,0140, S 57,400 S 48,400 I, S 57,400
,152908, 2592 ,001 ,0150, S 97,500 S 140,500 , S 140,500
,152908, 2592 ,001 ,0160, $ 97.500 $ 171,100 , S 171.100
,152908, 2592 ,001 ,0170, S 313,400 $ 135,600 , $ 313,400
,152908, 2592 ,001 ,0210, S 28.900 $ 26.600 , S 28,900
,152908, 2592 ,001 ,0220. S 85.900 $ 74,900 , S 85,900
,152908, 2592 ,001 ,0230, $ 172,100 $ 156,000 , S 1n,100
,152908, 2592 ,001 ,0260, S 172,100 $ 152,400 I, S 172,100
,152908, 2592 ,001 ,0290, $ 407,000 $ 309,600 , S 407,000
,152908, 2592 ,001 ,0410, $ 80,200 $ 81,100 , S 81,100
,152908, 2592 ,001 ,0420, $ 39,200 $ 30,100 , S 39,200
,152908, 2592 ,001 ,0421, $ 36.600 $ 28,100 , S 36,600
$ 2,739,200 S 2,331,400 $ 2,946,200
Page 4
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Sheet1
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I City of Clearwater
South Mandaley Redevelopment Area
Property Appraisal Report
I Sector Five: Papaya to Baymont, Manda/ay to Poinsetta
c
To ..rut
I oCoRawn Income
d lint ng IN Subdl Implild Just Cost Estimamd
. y . P Section VIIIon Lot Just Value V111ue AppraIIc:h Value
I ,152908, 16416 ,002 ,0160, $232,200 $298,800 I, $298,800
,152908, 16416 ,002 ,0200. $229,500 $15.600 , $229.500
,152908. 16416 ,002 ,0240, 5148,000 $ $148,000
,152908, 16416 ,002 ,0270, $319,300 5280,500 , 1319,300
I ,152908, 16416 ,002 ,0440. 5114,800 $76,100 , $114,800
.152908, 16434 .001 .0010, $ 80,200 5 138,700 I, $ 138,700
,152908, 16434 .001 ,0020. $ 1,294.300 $ 1,826.400 , $ 1,826,400
.152908, 16434 ,001 ,0090. $ 160,500 $ 4.100 , $ 160,500
I .152908, 16434 ,001 ,0110. 5 80,200 $ 3.300 , $ 80,200
.152908, 16434 .001 ,0120. $ 321,000 $ 43,100 I $ 321,000
Total: $2,980,000 $2,686,600 $3,637,200
I Bayfront condominium at Baymont and East ShON
,152908, 18135 ,001 .0010 $ 5 50,300
,152908. 18135 ,001 ,0020 $ $ 50,300
I .152908, 18135 ,001 .0030, $ $ 30,800
.152908, 18135 ,001 ,0040, $ $ 30,800
,152908. 18135 ,001 ,0050, $ $ 30,800
I .152908. 18135 ,001 .0060, $ $ 30,800
,152908, 18135 ,002 ,0010, $ $ 60,400
,15290B. 18135 ,002 ,0020. $ $ 60,400
.152908, 18135 ,002 ,0030, $ S 30.800
I ,152908. 18135 ,002 .0040. S $ 36,900 ,
,152908. 18135 ,002 ,0050. $ $ 51,700 ,
,152908. 18135 ,003 .0010, S $ 60,400
I ,15290B, 18135 .003 ,0020. $ $ 60,400 ,
,152908, 18135 ,003 ,0030, 5 $ 30.800
,15290B, 18135 .003 .0040. 5 $ 36.900
,152908, 18135 ,003 ,0050, S S 51,700 ,
I ,152908, 18135 .004 ,0010, S $ 50,300 .
,152908, 18135 ,004 ,0020, $ $ 50,300 ,
,152908, 18135 .004 ,0030, $ $ 30,800 ,
I ,152908, 18135 ,004 ,0040, $ $ 30,800 ,
,152908, 18135 ,004 ,0050, $ S 30,800 ,
.152908, 18135 ,004 ,0060, $ $ 30,800 .
,15290B, 18135 ,005 ,0010, $ $
I ,152908, 18135 ,005 ,0020. $ 5 27,100 ,
,15290B, 18135 ,005 ,0030, $ S 60,600 ,
Total: $ 1,015,700
I Bayfront condominium on East Shore
,152908, 86480 ,000 ,0001, $ 5
,15290B, 86480 ,000 .0010, $ S 104.600 .
I ,152908, 86480 ,000 ,0020, $ $ 104,600 .
I Page 5
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Sheet1
,15 29 OS, 86480,000 ,0030, $
,15 29 08, 86480 ,000 ,0040, S
,15 29 08, 86480 ,000 ,0050, $
,15 29 08, 86480 ,000 ,0060, $
,15 2908, 86480 ,000 ,0070, S
,15 29 08, 86480 ,000 ,0080, $
T oat:
$ 104,600,
S 104,600 I
S 104,600,
$ 104,600,
S 115,000,
$ 115,000 I
$ 157,600
Page 6
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~I Sheet1
I Appendix Two
I Clearwater Market Region
Change in Age Makeup 1994 to 2005
I 1994
Under 24 25 to &4 Over 65 Total
I HiIIsborough 300,737 464,339 113,993 879,069
Pinenes 219,130 428,254 223,338 870,722
,I Pasco 72,718 130,138 95,996 298,852
Polk 141,733 208,188 87,283 437,204
Total: 734,318 1,230,919 S20,610 2,485,147
29.5% 49.5% 20.9% 100%
I 2000
Under 24 25 to &4 Over 65 Total
I HiIIsborough 321,166 511,691 130,843 963,700
Pinenas 227,652 530,372 248,902 1,006,926
I Pasco 80,926 153,115 104,257 338,298
Polk 150,834 230,747 101,620 483,201
Total: 780,578 1,425,925 S85,622 2,792,125
I 28.0% 51.1% 21.0% 100%
2005
I Under 24 25 to &4 Over 65 Total
HiIIsborough 337,869 545,380 142,849 1,026,098
I Pinenes 233,701 490,173 224,625 948,499
Pasco 86,895 172,083 108,922 367,900
Polk 158,826 248,563 110,415 517,804
Total: 817,291 1,456,199 96,811 2,860,301
I 28.8% 50.9% 20.5% 100%
1994 to 2005
I Under 24 25 to &4 Over 65 Total
2005 817,291 1,456,199 586,811 2,862,306
1994 734,318 1,230,919 520,610 2,487,841
I Total: 82,973 225,280 66,201 374A85
22.2% 60.2% 17.7% 100.0%
I Socm:e: Florida StlltisticaJ Abatract, 1995, BEaR
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III Sheet1
I Appendix Three
I Vessels Registered in Florida FY1994/95
I Pinellas Hillsborough
LAngth: P........ % Commercial P........ % Commerc;im
Less than 12 feet 7,239 17% 328 5,433 16"- 63
I 12 to 16 feet 9,713 23% 195 12,486 38% 137
16 to 26 feet 21,043 49% 794 15,189 44% 360
26 to 40 feet 4,090 10% 432 1,468 4% 169
40 to 65 feet 587 1% 183 167 0% 96
I 65 to 110 feet 15 0% 24 5 0% 41
Over 110 feet 0% 2 0%
TOTAL: 42.687 100% 1,958 34,748 100% 886
I Polk Pasco
LAngth: P......... % Commercial P........ % Commeft:ial
I Less than 12 feet 3,334 14% 33 2,399 15% 51
12 to 16 feet 11,402 47% 242 5,452 34% 64
16 to 26 feet 9,107 38% 126 7,489 47% 194
I 26 to 40 feet 240 1% 14 648 4% 191
40 to 65 feet 36 0% 6 61 0% 71
65 to 110 feet 1 0% 0% 9
I Over 110 feet 1 0% 0%
TOTAL: 24,121 100% 421 16,049 100% 580
I
I Pleasure Boats 18m 28 fMt CMr 26 fMt 11*1
Pinellas 21,043 4,692 25,735
HiJlsborough 12,486 1,640 14,126
I Polk 11,402 278 11,680
Pasco 5,452 709 6,161
Total: 50,383 7,319 57,702
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Appendix Four
Sheet1
South Mandalay Redevelopment Area
Comparable Land/Building Values
Source: CCU1ty Appr8iIer Data
Sheraton at Sand Key
Land
Improvements
Total Value
Size of parcel
Aaes
Hotel units
UnIIsIacre
Land COItILIlIt
ConstructionILI
Total costIunlt
Land costISF
Land COItIacre
$ 8,6n,5OO
$ 10,534,900
$ 19,212,400
265,029 SF
6.084
390
64.1
$ 22,250
$ 27,013
$ 49,263
$ 32.74
$ 1,426,282
Radisson at Sand Key
Land
Improvements
Total Value
Size of parcel
Aaes
Hotel units
UnIIsIacre
Land costIunlt
ConIIruc:IionIr
Total costIunlt
Land costISF
Land COItIacre
$ 4,405,500
$ 9,995,000
$ 14,400,500
185,865 SF
4.267
220
51.6
$ 20,025
$ 45,432
$ 65,457
$ 23.70
$ 1,032,458
Condominium Units
.-
Assuming a baseline value of $200,000 a unit, with 25% of the baseline cost going for land, the current
Condominium market, with site densities at twenty-eight units per acre, could support land acquisition
costs up to $1.4 million per acre. ($50,000 · 28 = $1.4 million)
Page 1
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