Unicorp outlines Colony plans to LBK Rotary

LBK Rotary Club President Jack Rozance, Chuck Whittall, Owner and President of Unicorp National Developments, Inc., Amy Schuemann, Senior Vice President at Unicorp, John Brill, LBK Rotary Program Director.

Chuck Whittall, Owner and President of Orlando-based Unicorp National Developments, Inc., and Amy Schuemann, Senior Vice President at Unicorp, addressed the Rotary Club of Longboat Key at its October 26 meeting to outline their proposed plans for development of the former Colony Beach & Tennis Resort property.

Whittall recounted that he was originally attracted to Longboat Key when he considered purchasing the property that is now the Aria Condominium. He then discovered the 18-acre premier beachfront Colony property that has been embroiled in complex litigation for more than six years. Unicorp has closed on its purchase of many of the Colony assets critical to the consolidation and eventual redevelopment of the resort property.

Whittall describes the years of Colony litigation as a “ball of string, hair, and fishwire all tangled up together that all need to be unwound.” Whittall and Schuemann hope to team with a luxury hotel company such as Four Seasons or St. Regis to develop a mixed-use luxury property that will have a positive “halo effect” on the values of other Longboat Key properties while pumping an estimated $100 million per year into the local economy and $10 million per year into local tax coffers.

Before that can occur, however, Unicorp must be successful in securing votes from Colony unit owners approving buy-out offers by the November 10th deadline; Unicorp must receive voter approval in a March 2017 referendum to increase density on the property from the current 237 units to a maximum 417 units as a result of the proposed addition of 180 condominium units; and Unicorp must receive approvals from the Longboat Key Planning and Zoning Commission.

If all goes as Whittall and Schuemann plan, they hope to break ground in the Spring of 2018 and to be open for business in the Winter of 2020.

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