Colony Association, MW Group close to agreement

The Colony Beach & Tennis Resort Association is working toward reaching an agreement with Longboat Key-based MW Development Group to be the developer for the shuttered resort property.

Approximately 60 owners who attended a Colony Beach & Tennis Resort board phone conference call meeting March 26 were informed the association has entered into serious negotiations with the MW Group, working with MW developers Sigmund Levy and Kevin Daves to reach an agreement, according to Colony Beach & Tennis Resort Association President Jay Yablon.

Yablon declined to comment on the negotiations at this time.

Manfred Welfonder also confirmed his company is negotiating to be the next developer at the resort.

“The MW Group is working with the Association to move forward with an acceptable business deal which includes all respective stakeholders,” Welfonder said.

The news is a long time coming for Welfonder, who has been pushing to be the developer for the Colony since before the resort closed in 2010.

Welfonder said his top priority the past seven years has been focused on rebuilding the Colony, even though his MW Development Group was passed over on more than one occasion in the past.

For more information pick up a copy of this week's Longboat Observer.

Contact Kurt Schultheis at [email protected].