CONDOMINIUMS NEAR SELL-OUT DURING PRE-CONSTRUCTION SALES EVENT FOR SANDPEARL RESIDENCES ON CLEARWATER BEACH
Clearwater Beach Condominiums Garner $150 Million in Sales
CLEARWATER BEACH, FL- (6/23/2005) - JMC Communities -- a St. Petersburg, Fla. based real estate development company specializing in premier waterfront residential condominium properties and resorts -- is pleased to announce that all but two of the 103 Phase I condominium homes were sold during this past weekend’s Preferred Purchaser Selection event for the new Sandpearl Residences on Clearwater Beach (www.Sandpearl.com).
Nearly 800 pre-registered prospective buyers, providing $40,000 reservation deposits, were introduced to the new condominium community during a special selection event on June 17 celebrating the commencement of pre-construction sales for condominium residences and suites. The invitation-only event served as a priority appointment opportunity and showcased the casual, yet elegant resort lifestyle that Sandpearl will offer. Prospects were treated to a selection of fine island cuisine, live entertainment, and a video presentation on 50” plasma screens which also flashed names as prospective buyers were drawn. Appointments for those interested in purchasing a home began the following day. Appointments for 50 additional condominium-hotel suites will begin in 4-6 weeks.
The condominium homes – ranging in price from $600,000 to $4.4 million for the penthouses -- will continue JMC’s tradition of combining innovative design, intricate planning, unparalleled amenities, meticulous construction and environmental care to create a place that generates pride with its residents. In addition, condominium residents will have the opportunity to access such hotel services as concierge, housekeeping and room service.
According to J. Michael Cheezem, CEO of JMC Communities, in addition to the condominium homes in a 15-story tower, resort plans call for a 253-room four-diamond quality luxury hotel, featuring an 11,000 sq. ft. full-service spa, fitness center and beach club; 9,000 sq. ft. of retail space on Mandalay Avenue; fine dining; and more than 10,000 sq. ft. of meeting and event space situated on a 5.5 acre tract of land including 700 feet of direct beachfront.
“We are very pleased with the success of this weekend’s event because it confirms that there is a genuine interest in this type of residential lifestyle on Clearwater Beach,” said Cheezem.
Last week, JMC Communities also announced that a combined $170 million in loan commitments have been finalized with AmSouth Bank and Bank of America to begin construction of the new resort.
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.
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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Media Contact:
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Mary Jane Kolassa
(407) 838-1803
maryjane.kolassa@ypartnership.com
Ypartnership Public Relations
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