Will there be onsite parking for visitors and vendors?
Yes, there will be parking for retail and for residences.
What is the number of residence parking spaces?
Right now, the early concept is to include 140 spaces, two per unit.
What is the guaranteed life of the restoration?
100 years.
How does this affect The Mark re shadows and views?
If we built something adhering to current allowable zoning, it would look similar to the Aloft Hotel. Instead, we want to build two thinner residential buildings to help with light and air, but to do so, we need to add height. If we built something similar to the Aloft at 10 stories, we’d be about the same height or taller than the Mark. We do not want to build a 10-story square, block building. We aim to improve views for the Mark vs. views that would be impacted with a zero-lot line 10-story building per current allowable zoning. By separating the buildings approximately 50 feet, view corridors between and around the buildings are enhanced for the Mark and other neighboring buildings.
Can you rehab for less than $29 million so it does not have to be 18 stories?
We’ve spent a lot of time getting to this point today and the only way forward is if the funding for the project comes from the residential towers. The price of the higher units will offset the costs of restoration and saving the Mira Mar. At current allowable zoning for a 10-11 story building, we would have to build an apartment for more revenue which would add more people and more traffic and would not generate the necessary revenue to rehabilitate the Mira Mar.
The property appraiser shows at how many acres allowed, would only be 55 units. How are you getting 70 units?
We acquired the church property that added to the allowed density of 70 units. Also, the portion that we acquired actually used to be part of the Mira Mar, so we’re just adding it back in. We are proposing no additional density to current allowable zoning.
We live in The Mark. Our view is definitely going to be blocked. Why don’t you consider doing an 18-story building in the same footprint as the Dolphin so it doesn’t block us?
If we build a 10-story building like the Dolphin, it will obstruct the Mark’s views. That is why we are building taller and thinner with two separate buildings to add more light, air and view corridors.
Are you removing the third floor? How many retail spaces have you planned to keep?
Yes, and we are bringing back retail space. There are about six large commercial spaces in the historic portion, plus restaurants in the middle. At the second floor, our focus is on affordable office space and we are committed to bring back businesses at an affordable rate.
Do you plan to add a lot of interstitial space to make the building much taller so more units have water views and cost more money?
We are being transparent and will approach similar to Seaward’s last Downtown Bayfront project, Epoch Residences.
What protections can be created to assume the profit from the new towers go into a fund to restore the Mira Mar?
No municipal funding will be provided, we are proposing utilization of private capital to fund the existing building rehabilitation.
Will retail/commercial space be condominium or held by developer?
Maintained by developer.
Will there be more Air B n Bs?
No.
Are the rust colored tiles part of the original historical building?
No, that was part of the 1980s replacement. The building needs to be brought back to its authentic roof.
What is the height in feet of the towers above Palm Avenue?
We don’t have those exact measurements yet but we are proposing two 18-story buildings, set back at least 30 feet from Palm Avenue.
When would construction of the towers start?
Q1 2026.
How long do you predict construction would take?
24 – 30 months.
Based on age of building and renovations there most likely lead and asbestos in the building. How will you keep neighboring residents safe during this project?
The site would be tented and worked on by specialists to make sure it was done properly and safely.
Is the parking lot private for residents/commercial or will there be public access?
Both.
Is there a plan to use a tower for a hotel?
Not at this time.
You referenced on another project that once you got into it you figured out the building couldn’t be saved. What is your plan if that happens on this project?
If portions of the plan fail, we would reconstruct to match the original historic look. Here, we are doing a rehabilitation and reconstruction is the last option that would be done if a portion cannot be saved.
What is the sequencing? You said that the condos were critical in funding the rehab of Mira Mar. Are the towers first or how does the phasing work? What if the residences don’t fund?
We plan to stabilize the existing building and then start with the residential buildings and the rehabilitation concurrently.
How long will construction take? Will it be at the same time as the Zenith?
From the time we start construction of the new buildings, construction time is 24-30 months. We don’t know the schedule for the Zenith as we are not involved with that project.
The application includes a report stating that the restoration of the Mira Mar would cost $29 million. Is there sufficient profit to spend this amount on the existing old building?
This is a multi-year project and we’ve hired the best and brightest people to create residential towers with condominiums to provide the funding to restore the building. The funding for the rehabilitation is the developer’s responsibility.
Are you planning to perform a restoration plan and obtain historic designation and apply for tax credit?
Yes, we plan to explore all historic tax credit opportunities and if there are tax benefits, we would like to obtain those in the future.
How much of the original foundation/building be maintained or is it all rebuilt?
There is no foundation left in the building. Installing pile foundations will be the first step to bring in stability for years to come. Many people don’t realize that the Mira Mar was built in only 60 days in the 1920s with wooden frame on sand! This is one of the contributing factors in the $29 million price to restore it.
Why do you need to remove the covered walkway?
It is not part of the original design and we want to bring back the historical look and feel of what once was.
Will the church playground be removed?
The playground will be relocated to the church’s property on the West portion.
Coming into town we have road signs identifying SRQ historical area – where is that?
The downtown historic district begins on Main Street, just north of us. The boundaries and historic district can be better found online here.
Two cars can’t go down Mira Mar Court at the same time. How would you deal with that?
First, we’ll look at the engineering designs from the City that label streets and cross sections, and we would bring Mira Mar Court up to code if it is found deficient. Some roads downtown are intentionally designed for slower traffic. This project is designed with 70 residential units so traffic will be minimal and we want to keep the road small purposefully to keep traffic calm and slow.
How would you manage and guarantee not going over budget?
We are hiring the best and brightest minds in the business to make sure we don’t go over budget. They have expensive experience in these types of projects. The quality of this team will work to ensure we stay on budget. When We did Epoch, we were on time and on budget and we expect the same thing here.
