JMC CEO Michael Cheezem expects construction to start on both projects in August with the hotel opening in January 2007 and the residences in spring 2007. He calls the project "an important role in ushering in a new era for Clearwater Beach tourism." Cheezem adds, "Securing our financial partners is a major step forward in making Sandpearl a reality."
The total development will be built on a 5.5-acre tract having 700 lineal feet of direct beachfront.
JMC has partnered with AmSouth Bank on other Florida developments, including Belle Harbor and Mandalay Beach Club, both in Clearwater Beach; and Minorca in New Smyrna, near Daytona Beach. The 27-year-old company has developed 3,700 waterfront condominium homes in Florida.
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