JMC CEO Michael Cheezem expects construction to start on bothprojects in August with the hotel opening in January 2007 and theresidences in spring 2007. He calls the project "an important rolein ushering in a new era for Clearwater Beach tourism." Cheezemadds, "Securing our financial partners is a major step forward inmaking Sandpearl a reality."

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The total development will be built on a 5.5-acre tract having700 lineal feet of direct beachfront.

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JMC has partnered with AmSouth Bank on other Floridadevelopments, including Belle Harbor and Mandalay Beach Club, bothin Clearwater Beach; and Minorca in New Smyrna, near Daytona Beach.The 27-year-old company has developed 3,700 waterfront condominiumhomes in Florida.

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