JMC Communities Begins Construction of Marquesas on Clearwater Beach

Condominium project inspired by the Polynesian islands in the South Pacific

CLEARWATER, Fla. (March 29, 2007) – JMC Communities, an award-winning St. Petersburg-based developer specializing in luxurious waterfront communities, broke ground today on its fourth Clearwater Beach community, Marquesas. More than 125 people, including Mayor Frank Hibbard, Vice Mayor Carlen Peterson, city officials and future residents gathered for the South Pacific themed groundbreaking.

The upscale condominium will be located on the southernmost end of Clearwater Beach, at 715 S. Gulfview Blvd. An $81 million loan has already closed with AmSouth Bank to fund construction of the first phase of Marquesas, which is expected to be completed in mid-2009.

“So many great things are happening on Clearwater Beach and it is becoming a more desirable community every day. As we break ground on our newest community here, Marquesas, we are excited to be a part of the revitalization of one of the worlds most beautiful destinations,” said Mike Cheezem, chief executive officer of JMC Communities.  “We’ve been a part of this community for a very long time, watching its transformation into a first-class destination not only for visitors but also for residents. With its spectacular direct water views and resort-style amenities, Marquesas will provide an unbelievable living experience.”

“JMC Communities has a great pedigree we have come to know in Clearwater. Their great people provide outstanding customer service and they bring a high-quality product that is going to accentuate our beach,” said Clearwater Mayor Frank Hibbard. “We have a great partner in Mike Cheezem and JMC Communities to make Clearwater a world-class destination for both residents and visitors.”

Marquesas will feature two 15-story towers with 142 beachfront residences and six penthouses. Inspired by the French Polynesian islands in the South Pacific, each residence will overlook the Gulf of Mexico and Clearwater Harbor. The towers sit on almost six acres of land with more than 700 feet of beachfront. Marquesas will offer some of the largest condominium homes on the beach, with the residences ranging between 1,675 – 2,579 square-feet and the penthouses ranging between 3,100 – 4,687 square feet.

The community will feature many amenities including a manned gated entry, a two-story entry lobby with a waterfall and reflecting pool and an elevated beachside garden pavilion for outdoor entertaining. Also on site are an outdoor spa, a tropical free form pool, a waterfront esplanade, a fitness center with saunas and a club room with catering kitchen.

Marquesas is JMC Communities’ fourth Clearwater Beach community. Others include Mandalay Beach Club, Belle Harbor and Sandpearl Resort and Residences which is scheduled to be completed this summer. The 253-room Sandpearl Resort will be the first new beachfront resort on Clearwater Beach in more than 25 years.

Greenfield Partners, David Mack Properties and Lane Hospitality are also financial partners on the project.

For sales information about Marquesas, please visit the sales center at 770 S. Gulfview Blvd. Monday through Saturday from 9 a.m. to 5 p.m. or Sunday from 12 to 5 p.m., call (727)466-6785 or visit www.marquesasjmc.com.

Founded by J. Michael Cheezem in 1978, St. Petersburg-based JMC Communities is recognized as one of the top multi-family community developers in Florida. With a strong reputation for innovation, integrity and quality, JMC is committed to enriching the lives of its residents through exceptional living environments by developing communities that provide peace of mind, comfort and enduring pride of ownership. JMC is committed to providing unsurpassed value at a high level of quality from site acquisition to property management. JMC is “vertically integrated” serving as a developer, general contractor, sales team, closing manager and customer service department, to manage costs and maintain the highest quality standards. This business practice affords long standing relationships with designers, sub-contractors and suppliers.

JMC has built nearly 4,000 quality condominium homes. Projects include The Mandalay Beach Club, Belle Harbor and Sandpearl Resort on Clearwater Beach, The Bellamy on Bayshore in Tampa, The Florencia in St. Petersburg, The Grande and The Meridian on Sand Key and Minorca in New Smyrna Beach. Several other projects are currently underway including Ovation in St. Petersburg and The Strand on Daytona Beach Shores. For more information please visit www.jmccommunities.com or call 727-823-0022.