CLEARWATER BEACH, FL— A combined $170 million in loan commitments have been finalized with AmSouth Bank and Bank of America to begin construction here of the Sandpearl Resort, Spa and Residences. Plans for the Sandpearl Resort call for a 253-room four-diamond luxury hotel, that will feature an 11,000-square-foot full-service spa,fitness center and beach club; fine dining; and more than 10,000 square feet of meeting and event space. The Residences of Sandpearl will feature 117 luxury condominium homes, pool, spa, club room, fitness center and 9,000 square feet of retail space. The total development is situated on 5.5 acres, including 700 feet of direct beachfront. Florida-based developer JMC Communities expects to begin construction in August, opening the resort in January 2007; the residences will be completed in spring 2007.
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