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FERNANDINA BEACH, FL-A $60-million deal that would have given a majority stake in Amelia Island Plantation to an Irish developer has fallen through. The partnership announced in January would have given Redquartz Developments Atlanta 51% ownership of the 1,350-acre local resort.

Jack Healan, president of Amelia Island Co., told the Jacksonville Business Journal in an article published this week that Redquartz was “unable to fund the partnership transaction within Amelia’s required time frame,” forcing termination of the agreement.

Redquartz Atlanta, an affilate of Dublin-based Redquartz Developments Ltd., had plans for millions worth of improvements to Amelia Island over the next five to 10 years, including expanding its conference center and building an additional hotel. Discussions between Redquartz and the family of longtime resort owner Richard Cooper had been under way prior to Cooper’s death at age 82 in December 2008.

“The Amelia Island Co. regrets that the partnership with Redquartz could not be completed,” Healan stated. “We were looking forward to working with them to realize our vision for Amelia Island Plantation. We wish them the best of luck in the future.”

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