Opening of St. Regis is not all good news

The news regarding the former Colony Beach & Tennis Resort property is not good news for us, and probably not good for the 99% of the residents who would have voted for (our) MW Group’s proposal.

This was/is public knowledge — e.g. published in a local paper.

It is understood that in a competitive market a properly selected party will get the project. With our knowledge as well, the current developer for the St. Regis has not been selected in this way. The questionable selection procedure was arranged only by a few individuals.

A former president of the Colony Association accused the “whatever it takes” developer (Longboat Observer, Sept. 3, 2014), using threats of litigation, spreading falsehoods and having the purpose to bully and intimidate the (property) owners.

We are hearing that the 99% are very disappointed. Our group worked 100% for all involved; with sympathy and understanding; without any egos. Recognized not only by us, a very regrettable decision resulted also in a major and significant financial loss for the MW Group. Such negativities could have been avoided if everyone would have done it right.

MW Group worked more than 15 years (since 2007) on this development, like no other, and with relevant experience, persistency, respect, established international experts and a careful capitalization for a doable and long-term feasible project for the 99%. We understand that such a positive future has been eliminated by less than 1%.

“Don’t ever give up,” I was told often. I added: “Suum cuique” — to each his own. We have the patience to wait so that everyone gets what he or she deserves.

–Manfred Welfonder, Longboat Key