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JMC COMMUNITIES SUBMITS SITE PLAN FOR NEW LUXURY RESORT ON CLEARWATER BEACH

The Sandpearl Resort on Clearwater Beach Expected to Open Early 2007


CLEARWATER BEACH, FL- (9/29/2004) - JMC Communities submitted the site plan for its latest development, the Sandpearl Resort on Clearwater Beach, to City officials today.

According to J. Michael Cheezem, CEO of JMC Communities, the plans call for a 251-room four-diamond quality luxury hotel, featuring a 11,000 sq. ft. full-service spa, fitness center and beach club; 11,000 sq. ft. of retail space; fine dining; more than 10,000 sq. ft. of meeting and event space and 115 condominium homes, situated on a 5.5 acre tract of land including 700 feet of direct beachfront along Mandalay Avenue. The architectural character of the Sandpearl Resort on Clearwater Beach is founded upon classic West Indies style and island informality. JMC anticipates commencing construction in summer 2005.

The new resort will be located at the site of the existing Clearwater Beach Hotel. Recognizing the history and impact the Clearwater Beach Hotel represents for the city, JMC plans to retain the intimate character and heritage of the hotel, by honoring it within the new resort complex. The resort's condominium homes will be located on adjoining property just to the south of the hotel.

"We are confident that JMC's plans for the new resort will carry on the Clearwater Beach Hotel's rich heritage of personal service and charm, said Jeff Hunter of the Hunter Hotel Group, owners of the Clearwater Beach Hotel for nearly 50 years. "JMC's commitment to quality, service, design and environmental care will create a property that meets the needs of our existing customers, as well as open doors to a broader customer base we couldn't reach with the original hotel."

Previous to submitting their plans, company officials met with numerous community associations, including residents of JMC's Mandalay Beach Club and Belle Harbor communities, to unveil the new resort complex and discuss the positive economic impact on the community.

"We are pleased with the plans that have been developed and are excited to take this first step in making Sandpearl a reality," said Cheezem. "The resort will play an integral roll in the enhancement and revitalization of the city's renaissance district, serving as a functional gathering place for the community as well as a draw for tourists."

Founded in 1978, JMC Communities (www.jmccommunities.com) is a Florida-based real estate development company specializing in premier waterfront residential properties and resorts that preserve and accentuate the state's natural beauty and uniqueness. JMC Communities has developed more than 3,700 waterfront condominium homes in Florida, including many highly successful developments in the Gulf Coast area. JMC Communities is recognized as one of the finest multi-family community developers in the state, and has been the recipient of many awards including multiple "Grand Overall Winner" Parade of Homes Awards, the 1998 Builder of the Year by the Pinellas County Contractors and Home Builders Association, the Volusia Home Builder Association's Waterwise Award, and special recognition from the St. Petersburg City Beautification Commission.
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