Wyndham Grand Clearwater Beach Resort on South Gulfview Avenue.
Patel, through his development company K&P Clearwater Estate LLC, signed his last needed document July 23 with Wyndham to manage both the hotel and timeshare condominium sides of the property. The overall deal includes a $110 million loan that will go toward the construction of the two towers containing 345 hotel rooms and 105 condos.
When Patel bought the land for more than $13 million an acre back in 2005, he expected to move quickly on his plans for a mixed-use property, even knocking down three existing hotels that were there. But as the hotels came down, so did the economy, and it seemed Patel’s $40 million investment would be nothing more than three empty acres.
Source: www.businessobserverfl.com
Nearly 10 years after paying $40 million for 3 acres on Clearwater Beach Dr. kiran Patel is finally moving forward with Wyndham Grand Clearwater Beach Resort. The overall deal includes a $110 million loan that will go toward the construction of the two towers containing 345 hotel rooms and 105 condos.