JMC Communities takes first steps to make Marquesas reality

Begins demolition of Holiday Inn SunSpree hotel on site of new Clearwater Beach community

CLEARWATER, Fla. (October 26, 2006) – JMC Communities, an award-winning St. Petersburg-based developer, announced today that construction of its newest community, Marquesas, is on its way, beginning with the demolition of the old Holiday Inn SunSpree hotel. Located at 715 S. Gulfview Blvd. on Clearwater Beach, the hotel closed July 31.

Inspired by the South Pacific islands, Marquesas, located on a 6-acre waterfront site, will feature two 15-story towers with 136 beachfront residences and 12 penthouses. In August, JMC closed on an $81 million loan commitment funded by AmSouth Bank to begin construction. Groundbreaking is anticipated for early 2007.

“We are excited to continue to be part of the redevelopment of Clearwater Beach, “said Michael Cheezem, JMC Communities founder and chief executive officer. “Just last month JMC celebrated the topping-off of the Sandpearl Resort, the first new beachfront resort on Clearwater Beach in more than 25 years. Now, we celebrate the beginning of Marquesas, our newest community on the beach. It will offer spectacular views and amenities, making it the perfect primary or second home community.”

The Holiday Inn SunSpree originally opened in 1964 as the Clearwater Beach Hilton. It became the Holiday Inn SunSpree in 1995 and was purchased by Greenfield Partners and JMC Communties from Lane Hospitality in 2004. The hotel’s demolition will take two to three months after which, soil testing and foundation work will begin.

Marquesas residences will be some of the largest homes offered on the beach, ranging from 1,675 to 2,579 square feet of interior space, while the penthouses range from 3,075 to 4,466 square feet. The site has 700 feet of direct beach frontage with all of the residences having direct views of Clearwater pass and the Gulf of Mexico.  

Completion of Marquesas’s first building is scheduled for early 2009. The sales center is now open and located across from the development site at 770 S. Gulfview Blvd. Prices begin at $765,000 for a 2 bedroom, 2.5 bath, 1,675 square-foot home.

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. The firm serves as its own general contractor, and is focused on quality “vertical integration,” where a project team is always in place – from the architect and project manager to the landscape architect and interior designer. Innovative design, thoughtful home planning, attention to detail and quality craftsmanship customer service are provided by JMC to all customers through every phase of construction.

JMC has built more than 3,800 quality condominium homes. Projects include 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 Marquesas on Clearwater Beach, Ovation in downtown St. Petersburg and The Strand on Daytona Beach Shores.  For more information please visit www.jmccommunities.com or call 727-823-0022.