Thank you for visiting The Islander Newspaper Online.

We are currently updating our website to provide you better service and function.
If you would like to access the new site, please, click here: The Islander Newspaper

Sorry for any inconvenience. Our new site and service will resume shortly.

Web Master

The Award Winning & Best News on Anna Maria Island, FL Since 1992

"The Award Winning & Best News on Anna Maria Island, FL Since 1992"

Monday, Dec, 22, 2014
Florida Press Assn. Award-Winning Web Site
Home Latest News Weather Sports Real Estate Classifieds Island Guide Islander Store

 SECTIONS

 • 

Main News

 • 

Classifieds

 • 

Opinions

 • 

Streetlife

 • 

Calendar

 • 

Fishing

 • 

Sports

 • 

Real Estate

 • 

Obituaries

 • 

Weather

 Features

 • 

Cortez Cook Off: The Results

 • 

Anna Maria Island Bridge FDOT replacement bridge

 • 

National Hurricane Center (Atlantic)

 • 

Advanced Search

 • 

I love AMI

 • 

Mystery Story

 • 

Fishing Laws

 Classifieds

 • 

Classifieds Page

 • 

Place An AD

 • 

Items for Sale

 • 

Garage Sale

 • 

Estate Sale

 • 

Announcments

 • 

Lost & Found

 • 

Pets

 • 

Transportation

 • 

Boats & Boating

 • 

Fishing

 • 

Kids 4 Hire

 • 

Help Wanted

 • 

Health Care

 • 

Services

 • 

Lawn & Garden

 • 

Landscaping

 • 

Home Improvement

 • 

Business Opportunities

 • 

Rentals

 • 

Real Estate

 Weather

 • 

Today's Forecast

 • 

10 Day Forecast

 • 

Today's Tides

 • 

Emergency e-mail

 • 

Storm Watch

 Archive

 • 

News Archive

 • 

2009 Top Notch Gallery

 • 

2008 Top Notch Gallery

 • 

2007 Top Notch Gallery

 • 

2006 Top Notch Gallery

 • 

2005 Top Notch Gallery

 • 

2004 Top Notch Gallery

 Useful Links

 • 

Island Links

 • 

i.wed

 • 

Islander Store

 • 

About this Site

 Contact Us

 • 

Islander Store

 • 

Subscribe

 • 

About Us

 • 

e-mail us

Story Tools

Date of Issue: October 14, 2009

New owners for Perico project

The Jacksonville-based St. Joe Co. has sold its SevenShores condominium project on Perico Island to Minto Communities LLC, a subsidiary of the Minto Group of Canada, according to documents available online at the Manatee County Clerk of the Circuit Court Web site.

alt_text_goes_here

Minto Communities LLC of Coconut Creek are the new owners of the SevenShores project on north Perico Island and plan to continue development of the complex. The marina buildings shown in this aerial photograph have since been removed.
Islander Photo: Jack Elka.

The $10 million sale included $2 million for the accompanying marina and $8 million for the land, according to the court Web site.

Minto Communities has been involved in single-family and condominium construction on Florida’s east coast for a number of years, according to the company’s Web site.

The company headquarters is near Fort Lauderdale in Coconut Creek.

SevenShores was planned as a 686-unit condominium complex on north Perico Island, but St. Joe halted infrastructure work in 2007 due to a declining demand for condominiums. The company only managed seven reservations during the 13 months it had a sales office at the site. Units were offered for sale in the low $700,000 range, but there were few takers.

Minto vice-president Michael Belmont said the company researched the purchase of a number of Florida properties before deciding to buy SevenShores as the first step of expanding its operations on Florida’s west coast.

“We’re truly excited about the Perico project and its potential and we look forward to continuing to seek additional acquisition opportunities throughout the region,” he said.

Minto will conduct a marketing study of the area and resume the site development sometime in 2010, Belmont said.

“The housing market has certainly changed since the Perico plan was created. Our goal is to make sure the housing product we develop meets the needs of today’s consumer in terms of price and livability,” Belmont said.

Minto also is reviewing plans for the 119-slip marina that is considered a separate asset from SevenShores. The company will consider making the marina a public facility, he indicated.

Belmont said it was too soon to indicate a price range for the condominium units, but did say a name change is likely.

Glenn Compton of ManaSota-88, a non-profit environmental activist group that opposed the SevenShores project when it was announced in the late 1990s, said he hoped Minto would delay the start of construction as long as possible.

“Unfortunately, the damage to Perico has already been done,” Compton said. “We at ManaSota-88 can only hope that the new owners will be concerned with protecting the environment and institute more measures to conserve the land and marine habitat there.”

Have your say:

No comments for this page. Feel free to be the first

Username:

Contact:

(email or url)

Subject:

Your View:

Please enter the security code below:

security  

Get breaking news

Follow the Islander on TwitterBecome a fan of The Islander on Facebook

Sign up to receive breaking news alerts via e-mail. We'll send you a notice when the news and classifieds appear online every week, before the print edition hits the streets.

Click here for Gulf oil spill updates related to Anna Maria Island.

Historic Anna Maria City Pier Plank Walk

Put your name, your message, your memorial on the Historic Anna Maria City Pier prior to the Pier Centennial Celebration! And join the fun!

CLICK HERE for Stoltzfus e-mails and related court documents.


FREE Island
Vacation Guide:
get it here

Cortez Cookoff

Click here for 2010 Cortez Cookoff Winner and recipes

To advertise here, please
visit our rates page
or contact us at:
sales@islander.org
Phone: (941) 778-7978
Fax: (941) 778-9392

Back to top of Page

Home | Weather | Real Estate | Classifieds | Archives | Contact | Island Links
Islander Store | Subscribe About this site | Classifieds Page | Place an Ad
For Sale | Garage Sales | Announcements | Lost & Found | Pets | Transportation
Boats & Boating | Fishing | Kids for Hire | Help Wanted | Health Care | Services
Lawn & Garden | Landscaping | Home Improvement | Business Opportunities | Rentals | Real Estate

Our Privacy and Copyright Statements © 1992 - 2009, The Islander