This property has the possibility of being zoned Hotel.
Per the Pasco Land Development Code, MF-1 Zoning District Standards, Subsection 518.4.K allows for Hotels, Motels, Condos, bed and breakfasts, and tourist homes by Special Exception. A special exception request requires one public hearing in front of the Planning Commission. The Planning Commission is the final decision-making body for Special Exceptions. See copy of the MF-1 Zoning District Standards.
Existing condo complex consists of (3) 108-unit buildings, which are made up of 1- and 2-bedroom units. Most of the units face North and do not have full uninhibited views of the Gulf, whereas the Phase IV building would be facing directly west with full uninhibited views of the Gulf and its incredible Sunsets! The Phase IV project has the option of joining one of the 2 existing associations or creating its own Condominium Association. The new association would share with the cost of maintaining the joint use/common areas in the complex including the 24 hr security gate.
The Lagoon portion of the property is an ideal location for a Marina or above water Tiki Huts/Bungalows. There is a possibility to obtain an additional 900 feet of seawall space on the southside of the complex and add 60-70 boat slips on one of the areas widest canals.
A short pedestrian Bridge may be built to connect the long narrow strip of land on the North side of the property, where Tiki Huts and Beach can be installed. A perfect location for Sunsets, Yoga, Weddings.
The New Speros Moffitt Cancer Center, which recently broke ground and will employ over 10,000 and become the world's largest cancer center. The Center is located just 20 minutes from the Phase IV property...HCA Florida Bayonet Point Hospital is 2 miles away. Both would be great candidates for potential Buyers for Condo Units, Townhomes, or Hotel stays.
Condo project can be built turnkey $300-$320 per sq ft gross.
Neighboring Non-Gulf Front Homes currently sell for over $700 per sq ft.
Nearby Area... Hudson Beach was once voted Best Sunset in America, offers great inshore and offshore fishing, great restaurants, entertainment, 3 marinas, public boat ramp and beach area for swimming. Nearby Sunwest County Park with over a mile of Clearwater Beach quality sand, offers one of the largest splash pads for kids in the state of Florida, Beach Volleyball, along with a World Class Cable-pull Wakeboarding Course. There are 10 Golf Courses within 30 minutes. Shopping and amenities are all nearby. HCA Florida Bayonet Point Hospital and its nationally acclaimed " Heart Institute" along with the world renowned Bonati Spine Institute are both less than 2 miles away. Tampa International Airport is an easy 45 minutes away, Orlando-Disney 69 miles, Clearwater Beach 27 miles, Tarpon Springs Sponge Docks 13 miles away.
Frank Fekete
RE/MAX Sunset Realty
