Spaulding Point DevelopmentSpaulding Point Development

Project Description

Project: This distressed asset was less than 10% occupied when ST Residential got involved. ST Residential stabilized the asset by converting 300 condos to full service hotel units and leasing the remaining units. Approximately $10M in additional improvements to the lobby, amenity areas, and fitness center were made. The asset sold in 2014.

Involvement: Assisted ST Residential* with all contractor draw requests, final punch, and its determination of developer defect liability.

Size: 65 condo units, 300 hotel units, 400 lease units

*Danville Leadbetter was an employee of ST Residential from 2012-2014.

Project Detail

  • Panama City, FL
  • Commercial