“The town developing rules that would preclude the redevelopment of the property using a mixed residential and tourism use would deprive both me and the owners of their rights and would lower the value of the property tremendously.”

Our community leaders are once again playing chicken with lawsuits, development rights and how to go about applying the rules in a fair and equitable manner. And it could all affect the outcome at the Colony as well as the chances that the Town gets sued.

An obvious determinant of the value of the Colony is the number of units that will be allowed to be rebuilt.

STEVE REID Editor & Publisher sreid@lbknews.com The future redevelopment of The Colony Beach and Tennis Resort on Longboat Key has officially gone to a vote. Last week, Unicorp National Development executed a development and settlement agreement with the Colony Board of Directors. It took months, albeit years, for such an agreement to come to fruition [...]

Unicorp announces purchase, acceptance of development agreement by the Colony Board of Directors, as well as the forthcoming demolition.

“I am more optimistic than at any point since the closing of the Colony six years ago.”

A demolition permit has is underway for several Colony buildings including most of the structures that are visible from Gulf of Mexico Drive.

Andy Adams, who owns more than 25% of Colony units, remains true to cliché of playing his cards close to the vest. Meanwhile, Unicorp to execute contract with Colony Lender for acreage and assets through 1031 exchange.

“The appearance from Gulf of Mexico Drive and neighboring properties continues to deteriorate.”

Colony Board of Directors vote 9-0 in support of development plan that calls for 180 residences and 180 hotel rooms. The owners will vote for final approval in 90 days.