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Longboat Key Thursday, Sep. 9, 2010 4 years ago

Report reveals Colony renovation options

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by: Kurt Schultheis Managing Editor

The Colony Beach & Tennis Resort Association Board of Directors received a report from Karins Engineering Group Inc. this week that reveals it would cost about $600,500 to get the resort’s 237 units in shape for owner occupation this season.

The report, obtained by The Longboat Observer, explains two villa buildings that have not been used at least in the past year were visually inspected to come up with a “worst-case scenario” for unit owners.

To restore and renovate the current 237 units to attain another 20 to 40 years of lifespan, David Karins, president of Sarasota-based Karins Engineering, estimates the cost to unit owners would be about $19.6 million.

For comparison purposes, Karins estimates a complete demolition of the property and a rebuild of an estimated 282 units (45 units more than the existing resort) would cost about $54.4 million.

Association President Jay Yablon said the Board of Directors will distribute the report today, and owners will have a public board meeting soon to discuss its findings.

Contact Kurt Schultheis at kschultheis@yourobserver.com.
 

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