Clearwater's Billion Dollar Beach

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. October 14, 2008

CLEARWATER, FL, January 11, 2007. Billion Dollar Beach includes over one billion dollars in private development - a mix of hotel accommodations and residential condominiums - and Beach Walk, the city of Clearwater's $30 million beautification program. This dramatic renaissance is the most significant improvement to Clearwater's tourism infrastructure in decades.

Private development includes Hyatt's Aqualea Resort and Residences, Indigo Beach Residences and Indigo Beach Suites, the Kiran Grand Resort & Spa, Royal Camelot and the Sandpearl Resort. The Clearwater Beach Gulfview Resort has been completely refurbished; additional hotel rooms and suites will be available in 2007.

The Clearwater Regional Chamber of Commerce, on behalf of the city of Clearwater, has created a Web site, www.BillionDollarBeach.com, designed to provide detailed information about Clearwater Beach development. The site may also be accessed via Clearwater's official tourism web site, www.VisitClearwaterFlorida.com.

BEACH WALK

Beach Walk is a component of Beach by Design, the city of Clearwater's long-term master plan for improvements and redevelopment on Clearwater Beach. The project broke ground in January 2006; Phase 2 of Beach Walk will begin on schedule in February 2007.

When completed in 2009, the beachside promenade will have dramatically transformed the beach's landscape and visitor experience through the addition of green space, public areas, unique amenities and improved pedestrian and vehicle access.

Additional information can be found at www.myclearwater.com/beachwalk.

AQUALEA RESORT AND RESIDENCES

The Aqualea Resort and Residences (www.hyattclearwater.com) is a luxury resort condominium located directly on the beach along S. Gulfview Blvd.

Aqualea is starting construction and is slated to open the first quarter of 2009. A total of 268 units are planned; of those, 250 will be available as rental units. The remaining 18 will be exclusively condominium units.

Managed by the Hyatt Corporation(R), many resort style amenities and services will be offered, including room service, maid service, concierge service and covered valet parking.

The property will also have many extra amenities typical of a Hyatt(R) four-star resort, including pools (on the eighth and 16th floors), poolside bar and grill, signature Hyatt(R) restaurant (Oyster Catchers), fitness facility, beach concession area with towel and beverage service, professional spa, meeting rooms, ballroom, business center, secured parking area for unit owners and private poolside cabanas with air conditioning, cable television, lounge chairs and bathrooms.

INDIGO BEACH RESIDENCES & SUITES

The Indigo Beach Residences & Suites (www.indigobeach.com), being developed by Indigo Beach, LLC, an affiliate of U.K.-based Taylor Woodrow, PLC, will be located on S. Gulfview Blvd. The property will include 112 permanent condominium residences and 78 condominium-hotel suites that will be available as rentals.

Special amenities will include concierge service, a private gated entrance and parking, an outdoor heated pool and spa, fitness center, sun deck, restaurant and bar. Depending on size, model and location, suites will offer private balconies with views of the Gulf or Clearwater Bay, fully furnished designer interiors, flat screen televisions, walk-in closets, wireless high-speed Internet access, in-room electronic safes, in-room laundry facilities and either fully equipped kitchens or kitchenettes. Bathrooms will offer granite countertops, air-hydrotherapy spa tubs and separate showers.

Indigo Beach is slated to start construction in the second quarter of 2007.

KIRAN GRAND RESORT & SPA

The Kiran Grand Resort & Spa (www.kirangrand.com) will be situated on S. Gulfview Blvd., offering views of both the Gulf of Mexico and Clearwater Harbor. Developed by K&P Clearwater Estate, LLC, the Kiran Grand will offer an array of sophisticated amenities within approximately one million square feet. Special features will include over 30,000 square feet of meeting and conference space, a Grand Ballroom and a two-story entrance and lobby featuring a lobby bar with Gulf views. The Grand Pavilion deck, to be located on the fifth floor, will include a luxury spa and fitness center, two swimming pools, a poolside bar and deli, and an arcade and children's activity center. Access to the beach from the Grand Pavilion will be via a pedestrian bridge over Gulfview Blvd. Other typical resort-style amenities, such as valet, concierge, room and housekeeping services will be offered, along with a selection of restaurants and shops.

Opening is tentatively scheduled for 2009. A total of 350 condominium suites will be available as rentals; the number in the rental pool will vary depending on owners' needs. 75 condominium units will be permanent residences. The Kiran Grand will be marketed by the Leading Hotels of the World, and managed by Marcus Hotels & Resorts.

ROYAL CAMELOT

The Royal Camelot is a luxury boutique, but moderately priced, condominium hotel located on Mandalay Ave., less than one block from the beach and within walking distance to a variety of dining, shopping and recreational options. The Royal Camelot, managed by Travel Resort Services, Inc., has 22 fully furnished and spacious units (studios and one bed rooms), each decorated with a tropical theme and built around an inner pool courtyard. Amenities include a heated pool, poolside cabanas, a roof top sundeck, flat screen televisions and fully equipped kitchens. For rate and other information, visit www.royalcamelot.com.

A companion property, the Royal North, will be built one block from the Royal Camelot. For more information about these and other rental properties in Clearwater Beach, visit www.trsinc.com.

SANDPEARL RESORT

The Sandpearl Resort is scheduled to open in June 2007 on the former site of the famed Clearwater Beach Hotel. Featuring 253 luxurious guest rooms, and located on a 700-foot expanse of Gulf of Mexico beachfront, the property will offer several exclusive amenities, including a lagoon-style beachfront pool, fine and casual dining, meeting and event space, a world-class spa and life-enriching nature and arts programs.

The spa will offer guests innovative therapies with treatments that embrace the environment. Both thalassotherapy (therapy via ocean) and Salus per Aqua (health via water) are the organic anchors of the spa's program.

Sandpearl will also offer life-enrichment programs reflective of the surrounding community. Guests will be able to visit birding hotspots with the local Audubon Society and, with marine biologists from the Clearwater Marine Aquarium, explore the natural environment, observe marine life and become marine biologists for a day. The Artist-in-Residence program will feature a local artist each month, allowing guests the opportunity to create their own works of art with expert guidance, as well as observe and appreciate the work of the visiting artist.

Other unique resort experiences include Camp Ridley, the resort's children's club featuring campfire storytelling and sing-a-longs, treasure hunts, nature excursions, and arts and crafts.

The Sandpearl Resort is being developed by JMC Communities of St. Petersburg, FL, and will be managed by Naples, FL-based Coral Hospitality. Other project partners include the Hunter Hotel Group and Greenfield Partners.