CLEARWATER – The city’s Community Redevelopment Agency recently approved a two-month extension of its negotiations with Miles Development Partners for the purchase and development of the Cleveland Street and Prospect Lake site in downtown Clearwater.
Sarasota developer Bruce Balk had proposed building 100 townhomes on the site, but backed out of the deal after only 15 units had been completed, so the CRA sought proposals from other developers interested in completing the project.
Miles’ proposal was closest to what the CRA had in mind, so the agency started what was supposed to be a 90-day period of exclusive negotiations with the Atlanta-based developer.
“Negotiations are proceeding satisfactorily,” a CRA memo to the City Council reported. “However, due to the complexity of the issues involved with the development proposal and the site, the parties have jointly concluded that an additional 60 days are necessary.”
