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Belleview Biltmore Resort and Spa A preliminary review of potential uses of the site and critique of outside consultants study.

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Presentation on theme: "Belleview Biltmore Resort and Spa A preliminary review of potential uses of the site and critique of outside consultants study."— Presentation transcript:

1 Belleview Biltmore Resort and Spa A preliminary review of potential uses of the site and critique of outside consultants study

2 Hotel Restoration Actual minimal construction costs……. $117,000, Benefits to town of Belleair Icon restored. Taxes …………………………………… $ 555, per year. Utilities…………………………… ……$ 120, per year. Permit fees…………………………….$ 35, one time Benefits to County:. Taxes…………….. ……………………..$ 535, a year.. School Board …………………….... $782, a year. Permit fees ……………………………$65, one time

3 Partial renovation Spa/Hotel Confusing cross signals in Panther Creek study so use Table IV-2 Estimated Construction costs……$136,000, Town Gets: Taxes…………………………..$646, per year Utilities………………………..$132, year Permit fees…………………..$46,550 one time County gets : Taxes……………………………$ 622, per year School System……………..$909, per year Permit fees……………………$70,000.00

4 New Hotel/Conference Center Conference Center/hotel /golf resort Estimated Construction Costs….$ 139,000, Town gets: Taxes…………………………………..$660, per year Utilities……………………………….$133, per year Permits……………………………….$ 47,540 one time County gets: Taxes…………………………………..$636, per year School System……………………..$929, per year Utilities Permit fees……………..$71,000 one time.

5 Seniors Community Estimated minimal construction cost $71,954, All potential seniors projects have been rejected by town of Belleair repeatedly. Therefore, no analysis is necessary for this presentation.

6 Single Family Homes Panther study indicates 37 single family homes. Average Sales price $950, Belleair gets: Taxes………………………………….$167, per year Utilities……………………………….$74, per year Permits……………………………….$703, One time County gets: Taxes………………………………….$160, per year School Board………………………$235, per year Utilities permit fees…………….$75, One time fee

7 Multi Family/ Condos Panther study shows possible 279 condos can be built on site. Average Sales price… $430, Town of Bellaire gets: Taxes…………………………………..$ 569, per year Utilities……………………………….$ 390, per year Permit fees………………………….$1,919,520. 0ne time County gets: Taxes……………………………………$548, per year School Board gets………………..$802, per year Utilities permit fees………………$1,919, One time

8 Town Homes Note: not included in Panther Study. Site will accept 80 luxury town homes. Sales price average will be approximately..$644, Town of Belleair gets:. Taxes……………………………………………$244, per year. Utilities………………………………………..$112, per year Permit fees…………………………………….$824, one time County gets:. Taxes…………………………………………….$235, per year. School board…………………………………$163, per year. Utilities fees…………………………………..$ 112, one time

9 Reality Check /Hotel restored. Location is not considered even marketable by every hotelier we have talked with..Bad economy less a factor in investors than location and cost of renovation..Panther Creek analysis relies on unsustainable $ per day room rates. Fla average luxury room rate now at $ Another factor Panther study assumes county, schools and town will forgive taxes to get hotel built. This would mean those entities would be willing to give up over one million eight hundred thousand dollars..Panther assumes no franchise fee in their study.

10 Reality Check/Hotel restored continued Spa would be in conflict with Spa at Belleair Country Club Panther suggests phasing to help with costs.. Hotels canot be phased… Panther suggests Conference center at Hotel… Suggests by saying there are no IACC member facilities in greater Tampa yet he leaves out the fact that there is well over 800,000sf of conference space in greater Tampa. (Conference rates at high end luxury facilities like Sand Pearl are $120 per night yet he keeps his rates at $278 per night.) Panther uses outrageous resorts from exotic places and big cities to use as examples of previous restoration projects.. Panther uses occupancy rates that exceed the averages according to the county appraisal offices.

11 Reality Check? Single Family Homes According to Panther study there is room for 37 custom homes at a value of $630, per home site. We have reviewed this with several respected custom home builders and 30 lots worth about $450,000 each is more likely but still high and hard to finance. However, it is a viable alternative since it can be done.

12 Reality Check/ Multi Family Panther suggests 279 multi family condo units at the site. RPD would probably fight having more midrise condos in area. Suggestion of combining Townhomes with condos that look exactly like original building with saving part of original building as a museum to the history of the hotel is probabaly most likely successful outcome.

13 Reality Check/ Townhomes The townhomes can be built to resemble the original Queen Anne architecture of the Biltmore and can be sold in smaller more financeable groups. Will bring in professionals and a wealthier clientele to boost the RPD funds, and the Country Clubs membership. Town homes would give us the room to preserve a portion of the building as a historical museum/meeting facility. Only problem is that not enough townhomes can be built on site to pay for loss of revenue caused by saving part of hotel for museum.


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