Given that the civil action against the Town has been dismissed, with no ability for it to be revived, we are making plans to proceed to a construction start on the Margaritaville resort project. A decision on the Writ of Certiorari is still pending and we are awaiting the judge’s decision any day now but feel confident enough in the issues to be decided to move ahead with our plans. At the Town level, we have most of our permitting applications in review and expect to have the final submissions ready to go to the Town for review in the next couple of weeks.
We have given notice to all our tenants to close down operations by January 5, 2020. This includes our lodging and parking operations as well. We wish them the best as they go forward and a number of them are already executing plans to relocate their businesses on the Island. This will allow us to wrap up all remaining items leading to a construction start late in January.
The off-island hotel (Homewood Suites by Hilton), shuttle parking and housing project known as Beaches Getaway Village is in for approval at the County level. We are still looking for a partner to work with us on the residential attainable housing component of the project, the hotel and shuttle components are committed to start construction by March 1, 2020.
Lastly, we are working diligently with our Contractor to best ensure the least amount of inconvenience to the public during our construction.
We are extremely excited to be at this stage and want to thank everyone again for their continued support.
TPI Hospitality/Margaritaville Resort FMB