Eliminated Colony developer takes his case to unit owners

The remaining four candidates in the race to redevelop the Colony Beach & Tennis Resort were announced last week.

But for one eliminated candidate, the final four isn’t so final.

Manfred Welfonder, of the Longboat Key-based MW Development & Advisory, still believes that he has the winning plan to transform the shuttered resort. And now, he is making his case directly to unit owners.

“In the last days, we have received many phone calls and emails from you, unit owners, and from the community in regard to their surprise related to the recently announced four finalists for the Colony project,” Welfonder wrote in an Aug. 13 email to unit owners. “Also on behalf of my/our personal relationship to many unit owners, we feel that you should be informed about our redevelopment proposal and have some background information so that you will be in the position to make an informed decision.”
In the email, Welfonder lays out what he believes the benefits are to unit owners in his proposal, including a new, deeded unit at no cost to owners, cash payment and use of “an ongoing base of hundreds of fine hotels and resorts worldwide at minimal cost.”

Welfonder said he was surprised last week to learn that the board is no longer considering his proposal for the Colony.

The Colony’s board announced the four remaining finalist: a plan submitted by Colony unit owner Andy Adams and his AdamsMark LLC; Arendee Colony, represented by Randy Langley and David Siegal; Club Holdings/Quintess, a private club network of luxury accommodations; and the Naples-based Coral Hospitality, a full-service hospitality management-and-investment company. Welfonder’s company, along with West Paces Hotel Group, a luxury hotel-management company, were eliminated. According to the statement, the remaining four proposals were whittled down from an original pool of 20.

“In recent weeks, through a careful vetting and negotiation process in close consultation with the Association’s expert hospitality consultant Joel Rosen, of Horwath HTL, the final field has been narrowed from six to four,” the release stated.

But Welfonder disputes that statement.

“We never had the opportunity to negotiate … our proposal,” he said.

Welfonder said that his company’s proposal is the only plan that envisions a nearly complete teardown of the resort, redeveloping the existing 237 units and adding approximately 115 tourism units. Welfonder said that he has worked on a plan for the Colony for approximately five years.

Welfonder said that since he sent the email, he has received at least 25 phone calls from unit owners seeking more information.

“We want to have the opportunity to explain and negotiate our proposal,” he said. “Everybody who has heard details is for a proposal like ours.”

Jay Yablon, president of the association’s board did not comment. However, he said last week, he and another board member made a “due diligence” visit to Coral Hospitality. He and board members planned to do the same for Club Holdings LLC/Quintess later this week and are in the process of scheduling dates for the other two finalists.

“We plan to resurface with more public information about the selection some time in September once we have visited with all of the finalists,” Yablon said.

SITE PLAN

The plan submitted by Manfred Welfonder’s company calls for the construction of 160 hotel units built in one or two mid-rise buildings developed and/or managed by an international hotel company and owned by the developer. The plan also includes the construction of 180 vacation ownership units/residences, 10 private residence clubs, a three-meal restaurant, pool bar, ballroom, meeting rooms, spa, Har-Tru tennis court and an agreement with nearby golf courses allowing for the use of the facilities.