Post by reason on Mar 22, 2006 4:02:22 GMT -5
The final legal obstacle holding up a grand plan to revitalize the oceanfront Boardwalk washed away in a flurry of words Tuesday.
Attorneys representing the city of Daytona Beach and a property owner reached a verbal agreement for the sale of two businesses needed for the project.
The settlement, which still must be signed, avoids a trial on the value of the properties and an appeal of the city's victory last year in forcing the sale.
"It allows the developer to move forward with the project," said Alex Ford, a DeLand attorney who represents James Mathas, owner of Fun Fair and the Midway Fun Center.
Los Angeles-based developer Bill Geary plans a $115 million project to build two condo-hotel towers north of Main Street on the Boardwalk. Both towers will likely exceed 20 stories and include up to 500 condo-hotel rooms, with ground-floor space devoted to themed restaurants and retail stores.
"This clears away the last legal hurdle for us to proceed," said Geary, who hopes to submit plans to the city within five months and begin construction late this year or early next year. Construction is expected to take two years.
Tuesday's settlement included the family of Dino Paspalakis, which leased and operated the Midway Fun Center. The Paspalakis family agreed in 2004 to a settlement on the Joyland Fun Center and Lisa's Gifts in the face of a condemnation suit.
A previous settlement with Kalliope Joanos acquired Captain Darrell's Oyster Bar and Restaurant.
Attorneys declined to reveal details of the settlements.
One lawsuit remains with Darrell Hunter, who had a lease to operate Captain Darrell's. Geary said that won't hold up the project.
"We'll finally have a new Boardwalk that everybody can be proud of," Geary said.
A popular tourist destination, the Boardwalk became known for runaways and pedophiles in 1981 when the city declared the area blighted. A revival has already started at the north end of the walkway with construction of the Ocean Walk condominium and shops, as well as expansion of the Hilton.
"They can finally carry out the vision the city has had since the '80s of three convention hotels supporting the Ocean Center expansion and revitalizing the oceanfront redevelopment area," said Scott Cichon, an attorney with the law firm of Cobb & Cole, who represents the city and Geary.
Daytona Beach city officials expect to begin construction within three months on an oceanfront park planned to complement the Boardwalk project, immediately south of Main Street, City Manager Jim Chisholm said.
"The timing should be great," he said.
Attorneys representing the city of Daytona Beach and a property owner reached a verbal agreement for the sale of two businesses needed for the project.
The settlement, which still must be signed, avoids a trial on the value of the properties and an appeal of the city's victory last year in forcing the sale.
"It allows the developer to move forward with the project," said Alex Ford, a DeLand attorney who represents James Mathas, owner of Fun Fair and the Midway Fun Center.
Los Angeles-based developer Bill Geary plans a $115 million project to build two condo-hotel towers north of Main Street on the Boardwalk. Both towers will likely exceed 20 stories and include up to 500 condo-hotel rooms, with ground-floor space devoted to themed restaurants and retail stores.
"This clears away the last legal hurdle for us to proceed," said Geary, who hopes to submit plans to the city within five months and begin construction late this year or early next year. Construction is expected to take two years.
Tuesday's settlement included the family of Dino Paspalakis, which leased and operated the Midway Fun Center. The Paspalakis family agreed in 2004 to a settlement on the Joyland Fun Center and Lisa's Gifts in the face of a condemnation suit.
A previous settlement with Kalliope Joanos acquired Captain Darrell's Oyster Bar and Restaurant.
Attorneys declined to reveal details of the settlements.
One lawsuit remains with Darrell Hunter, who had a lease to operate Captain Darrell's. Geary said that won't hold up the project.
"We'll finally have a new Boardwalk that everybody can be proud of," Geary said.
A popular tourist destination, the Boardwalk became known for runaways and pedophiles in 1981 when the city declared the area blighted. A revival has already started at the north end of the walkway with construction of the Ocean Walk condominium and shops, as well as expansion of the Hilton.
"They can finally carry out the vision the city has had since the '80s of three convention hotels supporting the Ocean Center expansion and revitalizing the oceanfront redevelopment area," said Scott Cichon, an attorney with the law firm of Cobb & Cole, who represents the city and Geary.
Daytona Beach city officials expect to begin construction within three months on an oceanfront park planned to complement the Boardwalk project, immediately south of Main Street, City Manager Jim Chisholm said.
"The timing should be great," he said.
