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Colony seeks to keep 237 units

STEVE REID
Editor & Publisher
sreid@lbknews.com

Unicorp, which is owner of The Colony outparcels and is vying to redevelop the 17.3-acre resort, has asked the town to extend the grandfathering of the 237-unit tourism resort hotel that operated for four decades by former Colony Chairman Murf Klauber.

The resort closed in August 2010 and has been embroiled in lawsuits between various owners and interests ever since. Unicorp has emerged as the owner of the Colony outparcels and has had its redevelopment proposal blessed by the Colony Board of Directors and is now before the unit members for a vote.

An obvious determinant of the value of the Colony is the number of units that will be allowed to be rebuilt. The underlying zoning only allows six units per acre and would only support a redevelopment of 104 units. The town has granted five resolutions grandfathering the 237 units at the Colony and the most recent extension will run out on Jan. 9, 2017. By town zoning code, unless a property owner can show extenuating circumstances such as legal constraints, the zoning shall revert since the use of the property would be considered abandoned.

Recently, Unicorp has demolished its commercial holdings on the Colony property, including the former sales and marketing office, the beach tiki huts, conference center, as well as maintenance and housekeeping buildings.

In its request for grandfathering, Unicorp wrote that it plans to hold a public vote in spring of 2017 requesting additional units from the public and plans to go through the planning and zoning process over the last year.

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