HUTCHINSON ISLAND — The fizzling economy continues to keep progress at a standstill on the new Oceanside Resort hotel on Hutchinson Island.

The new resort, which is slated to replace the partially destroyed 184-room Holiday Inn Oceanside just south of Jensen Beach Causeway, was scheduled for completion by next year. But Huizenga Holdings, which now owns the complex, is still trying to secure all necessary permits and retool its business plan in accordance with the economic downturn.

Plans for the location should be finalized in two or three months, and a second unnamed company has been contacted about a joint venture on the project, said Alex Muxo, senior vice president of Huizenga Holdings.

“It’s always a process, and there are many issues with coastal construction,” Muxo said. “But the driving force has been the economy, plain and simple.”

Built in 1973, the Holiday Inn structure has sat vacant since incurring serious damage during hurricanes Frances and Jeanne in 2004.

Huizenga Holdings, a Fort Lauderdale-based company associated with entrepreneur H. Wayne Huizenga, bought the property in 2004 and originally hoped to open its 144-room hotel in 2010.

The Martin County Commission approved the hotel’s master site plan in 2007, and construction was scheduled to start in 2008.

Then the poor economy put all plans to a halt, and, as of yet, a final date for the hotel’s completion hasn’t been determined.

Plans for the 6.6-acre lot include a restaurant and pool area, a two-story reception building and two four-story buildings for guest rooms.

The property’s last use was in 2007, when Huizenga Holdings allowed Martin and St. Lucie County fire rescue personnel to use the building for training for three months.

But despite experiencing setbacks, the project will still be a sound investment, Muxo said.

“It’s just the downturn in the economy,” Muxo said. “It’s still a great site. Martin County is a great location, and it still makes sense.”

By Jonathan Mattise, TCPalm.com

Tags: beach, business, driving, Economy, fire, fires, holiday, holidays, hotel, hurricanes, pool, property, restaurant, security, train

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