In case you haven't heard, Debartolo Development, with the Avanti Group and Christian Tyler Properties purchased Georgetown on October 2 for $30.5 million. This same group bowed out of the contest two years ago when the bidding frenzy topped $125 million. They are quite pleased with their bargain purchase.
The Trust for Public Lands became involved as the property took a nose-dive when the economy tanked, and the land went into foreclosure. TPL has been attempting to protect the precious 10.8 acres of wetlands and 34 acres of submerged land, i.e. sand bars and beach waterfront from unscrupulous development. The plan now includes the development of a "passive park". This mean protected public lands for public use, but no swimming pools or baseball diamonds. There was mention of beach access and a kayak launch. (Hey Hey, the Regency Cove kayakers will just LOVE this.)
Public access is anticipated to run through the commercial marina area on the southern boundary of the 80+ acres. No formal plans have been acknowledged yet by Debartolo. We will keep you informed. This information was shared at the Bayaside West meeting this evening.
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