- March 29, 2025
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Amid his company’s appeal of the Planning Board approval of an adjustment for the redevelopment plan of the Hyatt Regency site next to The Quay, Kevin Maloney hatched an idea to reduce the density and traffic pressure along Boulevard of the Arts.
Why not, he posited, donate Block 9, which is about 30,000 square feet, to the city for a park within The Quay, providing Kolter Urban kick in about 12,000 square feet at the eastern edge of the Hyatt property for city park space just across the street from The Bay park?
Maloney, president and CEO of Property Markets Group of Miami, has partnered with Kim Githler of Sarasota-based MoneyShow as Quay 1 and 9 LLC, developer of One Park on Block One with approval to build One Park West on Block 9.
He made the overture to Kolter Urban within 24 hours of losing his appeal of the adjustment that allows Kolter to relocate the driveway eastward along Boulevard of the Arts. Not officially appealed, the developer also objected to an administrative adjustment to widen the driveway from the permitted maximum of 24 feet off a primary street to 33 feet.
There was much more to Quay 1 and 9’s objection to the planned 1000 Boulevard of the Arts project, including building over a vacated alley of which both entities own sections and an access configuration it claims will require service vehicles to encroach on One Park West. That and the fact the conceptual site plan of Kolter’s project virtually surrounds Block 9 to the lot line on two sides, eliminating any light, air and views from its planned One Park West condominium tower.
More than the One Park West impact, though, Maloney said the park plan would maintain view corridors for other buildings within The Quay, and provide public space from the perception as an exclusive enclave of high-priced condominiums and lower congestion pressure from Boulevard of the Arts by reducing density.
His plan was to sell Block 9, for which Quay 1 and 9 paid $15 million, to the city for $1 if Kolter would do the same.
“There are so many good things that would do for everybody,” Maloney told the Observer shortly after extending the olive branch to Kolter Urban. “The public would get a park. The Quay would get a view corridor. Many of the buildings would have a great unobstructed view right to the park, and some of them to the water. It's just a real win-win for everybody.”
Right up until Kolter Urban determined it wasn’t.
Kolter Urban President-West Florida Brian Van Slyke told the Observer on Monday that the piece of land previously used for Hyatt Regency employee parking is a key contributor to the company’s financial ability to its plans for 1000 Boulevard of the Arts. It’s one of a two-tower project that will include 117 luxury condos and a 174-room Hyatt Centric Harborside hotel.
There has not been a disclosure of second tower specifics.
“We applaud the PMG Group’s willingness to donate Block 9 Quay for use as a public park. However, we have a different set of circumstances regarding our parcel directly north of Block 9,” Van Slyke said. “Due to high acquisition and construction costs regarding the replacement hotel, our residential offering is heavily subsidizing the hotel redevelopment. This subsidy requirement will not allow us to remove residential uses as PMG has suggested.”
Exactly what Quay 1 and 9 may do with Block 9 remains up for consideration. Approved to build the 18-story, 69-unit One Park West, the developer had previously announced plans to offer residences starting in the low $1 millions to $3.3 million, a relative bargain price point in The Quay.
That plan remains on the table, but Maloney said, absent the park idea, there are options.
“People have come to me and offered me a very nice profit to just build a parking structure there,” Maloney said. “We can do that, too. A lot of things can happen on that site. We're essentially almost physically touching their building.”
As for the park idea, Kolter Urban’s Van Slyke said the company is willing to participate in the project, short of donating land, should Quay 1 and 9 choose to proceed.
“In the spirit of cooperation and to serve the public’s interest, we would agree to fund the park improvements on Block 9 should PMG choose to go forward with their very generous offer,” Van Slyke said.
For his part, Maloney said he still believes donating both parcels to the city for park space is a mutually beneficial idea.
“I would take a $15 million haircut, but it would be worth it to reduce the density in that area,” he said. “This would have been a great solution to build that park, and I think it's in our interest to build that park, but it doesn’t work unless we go in on it with both properties.”
