Florida Keys News
Tuesday, April 10, 2012
Peary Court sale under contract
Attorney says development plan no longer includes vacation-rental homes

Developers on Monday signed a purchase contract for the Peary Court complex that once housed military personnel, according to their attorney.

White Street Partners LLC will not proceed with previously discussed plans for vacation housing, but have not unveiled their new plans, said their Key West-based attorney, Richard Klitenick.

"There are not going to...

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Attorney values each unit over $1 million

Attorney Klitenik claims the 157 units "could generate a half-million dollars in annual tax revenue for the city." That would require that each unit was assessed at over $1.1 million dollars. That sounds like a stretch in the current market.

jack sparrow

You need a new calculator....only needs to be $300k/unit

KEYWORD: "For the City"

You're mistaken, my misguided son. Do not commit the error of including the So. Florida Water Management District, or any other taxing authority, in the figure that the City of Key West will receive. The city will only receive the millage of the total tax bill that relates to the city.

Hmmm??? Still there???

So What If They Are Transient Rentals?

C'mon people...Key West is a tourist town. Transient rentals there will attract a different type of tourist. They won't have the occupancy that they have now so the traffic in the neighborhood will be less congested overall. As far as "affordable" goes....define "affordable". This isn't the midwest. Those were affordable at the current market price compared to what could be had in the same neighborhood. I know because I lived there! More than likely the ownership will change and the same families who live there now will remain tenants with a few less amenities. They will have to pay for their own utilities!

not good...

I own and live year-round in a home on White St directly across from Peary Court and am very concerned. When I see that a developer involved with the failed condos over on Caroline St is involved in this project, along with two Miami developers, I feel pretty confident in saying that those folks are not going to care one iota about any negative impact that their development may have on the surrounding neighborhood. Homeowners along White St and in the Meadows adjacent to Peary Court need to get organized and start showing up at meetings. There is a planning board meeting on Thursday April 19 at 6pm with Peary Court on the agenda, I'm going to be there.

Recusal?

Uh, the last time I looked, Richard Klitenick was chairman of the Key West Planning Board. So of course, he'll be recusing himself from anything to do with the developers plans as they move through the City's processes. These (processes) are the playground for developers, planners and lawyers.

Keep a close eye on that parade. There'll be all kinds of distractions, moves, counter-moves and hearings, hearings, hearings.

I'm glad to hear the Last Stand is watching this closely.

They never listen.

I told you Don Craig was a mistake.

Lips are moving

Remember these quotes - "There are not going to be any transient rentals; people would get upset about it. They realize there would be a lot of public outcry about it," Klitenick said. "As of today they are under contract to purchase it. They are going to be injecting huge sums of cash into the project, which will end up being a nicer part of the city." If a developer's lips are moving and/or their attorney's lips are moving there is bound to be a lie in motion.

No transient rentals?

We have heard this before. Truman Annex had an allotment of transient rental licenses for the proposed Ritz Carlton (only). Shipyard was the affordable housing negotiating tool. There was a sunset on transient licenses and they also had a five-year moratorium on selling/leasing. The transient aspect will fall by the wayside. The neighbors surrounding Peary Court have much to be concerned with. Note: I lived here at the time of the sale of Truman Annex to Pritnam Singh, entered the real estate profession shortly after and researched this issue for a letter to the editor in which I wrote. I confirmed my findings with the then, attorney for the city and planning department. captain curtis william erling white
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