After a 7 hour meeting on the London Bay project Tuesday, no decision was made by the Local Planning Agency. London Bay CEO Mark Wilson asked for a continuance when LPA members said they wanted him to reduce his highest building from 177 feet to 158.
Being that the tallest building is London Bay’s condo building, Wilson appeared to want some extra time to go back and see where he can make up that lost revenue from 8 condo units. Those two floors would have most likely have been his best selling condos. He may want to convert those 8 condo units to 24 more hotel rooms. He could do that based on the town’s multiplier from condo units to hotel rooms. The town code allows a property owner to convert one unit to 3 hotel rooms.
Wilson would also have to decide where to add the two floors he’s losing from the tallest building. The other 4 proposed buildings are all less than the 158 feet some LPA members are indicating they are ok with.
Another reason Wilson asked for the continuance was that LPA member Doug Eckman had to leave the meeting at 3PM. It appeared Eckman was leaning toward a YES vote on the project and Wilson doesn’t want to lose that vote. With Eckman out of the room, a vote was looking more like a 3-3 tie. A tied vote is a failed vote. Of course, Wilson can also decide he doesn’t like that the LPA lopped off 2 floors and go directly to the Town Council with his original plan. That’s exactly what Seagate did for the Red Coconut property and it passed 3-2…