Group says it has funding to buy, renovate Belleview Biltmore - WFLA News Channel 8

Group says it has funding to buy, renovate Belleview Biltmore

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BELLEAIR, FL (WFLA) -

A group that had previously planned to purchase and renovate Belleair's Belleview Biltmore Resort says it now has the funding to do so.

Belleview Biltmore Partners announced on Monday that it has secured a funding commitment to purchase and renovate the historic property and also purchase the Biltmore Golf Course, which is owned by the town of Belleair.

The group previously tried to purchase the property about a year ago, but could not secure the funding, so a contract to buy the hotel was awarded to another group, according to Gary Rosenberg, who is one of three BBP partners.

"We do not have the hotel under contract, someone else does," Rosenberg told WFLA.com.

Rosenberg said that he does not know the terms of the current contract on the property, but he says he does know that the deal has not closed.

He and the other two BBP partners will attend a Belleair town commission meeting on Tuesday, even though the Biltmore hotel sale is not on the meeting's agenda.

"All we're doing is attending," he said.

"Since there is a meeting, we are going to be there, basically to listen."

Rosenberg says BBP believes that the Biltmore can be restored.

"We very much are preservationists," he said.

Rosenberg told WFLA.com that restoring the hotel is what is best for the community.

The BBP funding commitment is from a private equity source. If purchase deals were to be made, the transactions could close within 30 to 45 days, according to the BBP news release.

Records from the Pinellas County Property Appraiser show the owner of the Biltmore golf course is the town of Belleair.

The Belleair Town Commission is scheduled to meet Tuesday regarding a different topic concerning the Belleview Biltmore property. The Belleair Country Club wants to purchase 2.32 acres of the Belleview Biltmore property and is asking for a change to the land development code.

The meeting begins at 5:30 p.m. and will be held at the Belleair Town Hall, 901 Ponce de Leon Blvd, Belleair

The Biltmore has been closed since 2009. The 260-room hotel is one of the National Trust for Historic Preservation's most endangered sites.

Copyright 2014 WFLA. All rights reserved.



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