Currently 2 Responses
- Our engineering has been studying the structures of the Colony for some time. and they came to the conclusion that a renovation is possible at the Colony.
They say that based on his professional opinion and extensive review of 51 units at the Colony:
1. The Structures are sound and safe (or can be made sound and safe) after a Four Star renovation.
2. The structures can be renovated for half the price of new construction.
3. Renovations (up to Four Star standard) will take one third the time than new construction.
4. New construction could never be built on the same footprint that now exists.
Any Beachfront units would be lost and could never be rebuild: 3 Beach Units, 5 Lanai units, 2 presidential units, 24 Villa (1 and 10) units, 2 Beachcomber units, The Vagabond, the restaurant and the pool, and the Mid Rise, all or part of these units are on the other side of the costal development line.
5. Renovation will not involve a costly site plan and Review at this time which could take a year or more and cost hundreds of thousands of dollars.
We have also talked to two major contractors and both concluded that gut renovation was possible at about $125 per foot. vs $300 new construction. A full report will be given to Town officials.
I have worked as a developer for 13 different high end, multifamily, historic residential buildings in New York, New Jersey, and Long Island. I am currently developing a multifamily student/ faculty housing project near Fordham University. I have appeared before many Planning and Zoning Boards
I served on the Advisory Board of American Express evaluating and recommending Hotels and resorts for their 237 retail offices and their Platinum Travel Services
- I'd like to see the extension approved. Given the age and cndition of the existing units, I favor a totally new facility with world class architecture.
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