According to Kevin Fallon, Vice President of Cedarwood, they are not sure what type of development would be best for the area.
is considering as many as five different options in conjunction with their existing Marriott hotel.
must first complete their due diligence by the end of the year.
Part of the period will be used to estimate their costs to buy out the existing leases at the Shoppes.
If the feasibility of the project looks acceptable, the developer will enter into a firm purchase agreement with the seller.
During a recent meeting of the Sand Key Civic Association
, Mr. Fallon
assured the group they were trying to be "good neighbors" and would keep the group informed of their plans.