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What is a resort condominium?

“A resort condominium is a condominium unit owned in fee simple that is located within a resort property."

What is Aqualea Resort and Residences?

“Aqualea Resort and Residences is Clearwater Beach’s newest and most luxurious resort condominium.”
 As a resort condominium, your residence at Aqualea will be located within a four-star resort managed by Hyatt Resorts with resort style amenities and services.

What is the difference between a hotel and a resort condominium?

“The typical distinction between a traditional hotel and a resort condominium is two-fold.”

First, the resort rooms that are available to stay in and rent at a hotel are owned by the hotel operator, while the rooms available at a resort condominium are owned in fee simple by individual owners.

 Secondly, owners of a resort condominium are free to use their condominium units at their own leisure or, alternatively, place their unit into an organized hotel rental program.

What resort services are available to the owners at Aqualea?

“All resort services will be available to you for your use and enjoyment.”
Resort services will include:

Room service
Maid service
Resort concierge
Covered valet parking

What are the amenities of Aqualea Resort and Residences?

“Owners will be pampered in luxury in their very own elegantly appointed suite located directly on Clearwater Beach in the heart of Beachwalk.”
Owners at Aqualea will also have every imaginable amenity typical of a Hyatt four-star resort including:

Two resort-style pools
A signature Hyatt restaurant
Poolside bar and grill
A premier fitness facility with cardio vascular and weight equipment
Beach concession area with towel and beverage service
A professional Spa with treatment rooms & massage services
Exclusive membership in the White Orchid Beach Club
Meeting rooms, ballroom and business center
Secured parking area for unit Owners
Private poolside cabanas with A/C, cable television, lounge chairs & bathrooms

Does each resort condominium unit have a view of the Gulf?

“Yes.”
All 250 resort condominium units will have direct and elevated views of the beach and Gulf.

What is the “White Orchid Beach Club”?

“The White Orchid Beach Club is an exclusive owner’s beach club that gives members access to the private beach club facilities and amenities.”
Specifically, members will have access to the magnificent private club room which may include:

Bar & lounge
Locker room
Business center
Game tables
Media area

In addition, the Club will also provide beach level towel service and storage facilities.

What are the benefits of owning a resort condominium?

Location

“Our resort condominium will afford its owners with the opportunity to own a vacation or second home located on a premier Florida beach destination with four-star resort services and amenities.”

Maintenance

“Our resort staff will take care of all aspects of your unit’s maintenance needs.”

Rental Management Program

“As an owner of a resort condominium, you may have the opportunity to place your unit in the Rental Management Program, thereby allowing your unit to be marketed and rented by Hyatt Resorts when you are not in residence.”

Who will operate the resort?

“Aqualea Resort and Residences will be managed by Hyatt Resorts, one of the most prestigious hotel and resort operators in the world.”
Hyatt operates and maintains more than 213 hotels and luxury resorts in forty-three countries, and has selected Aqualea as their exclusive property on Clearwater Beach.  Although Hyatt has executed a long term agreement to manage the Aqualea Resort, there is no guaranty that Hyatt will operate the resort.

How can I purchase my “own” resort condominium at Aqualea?

“We will begin signing purchase contracts for the units beginning in late 2005.”
 Upon signing a purchase contract, prospective buyers will be required to make a non-refundable deposit of 15% for their unit.  An additional deposit of 10% will be due upon commencement of construction.  Closings for the units are scheduled to occur in the summer of 2007.

Is a resort condominium a “timeshare”?

“No.”
 The owner of a resort condominium has the same traditional ownership rights that any condominium owner is granted by the state of Florida, including voting privileges and membership in a condominium association.

Is a resort condominium a “fractional ownership” property?

“No.”
 Owners of resort condominium have complete ownership of all real property aspects of their units.

Can an owner allow family and friends to use the owner’s unit?

“Yes.”
Owners may allow family members, friends or other designated guests to use their unit during any time periods that the owner is entitled to use their unit.  However, occupancy of the unit by family and individual guests of the owner will count against the owner’s annual usage limitations and may be subject to certain administrative fees.

What are the expenses of owning a resort condominium?

“Expenses for a resort condominium at Aqualea are described in complete detail in the Condominium Prospectus and HUD Property Report.”
 Expenses will include traditional condominium assessments, as well as resort expenses and typical fees for resort services, such as, room service, spa treatments, housekeeping, on-site dining, and valet & concierge services.

Are the units sold furnished or unfurnished?

“All units will be sold furnished.”
Furniture, fixtures and equipment will be selected and coordinated by the interior designer of the Developer.  Purchasers will not have the option of buying a unit unfurnished.

How are the resort condominiums furnished?

“Aqualea Resort and Residences has engaged a leading interior designer to select and coordinate all furnishings and fixtures for each unit.”
Upon the opening of the resort, all units will be “live-in” ready.  Based on each individual floor plan and subject to vary, the furnishings will include seating arrangements with a couch and/or chairs, granite kitchen & bath countertops, tile floors & carpet, dining table with chairs, granite bar countertops with bar stools, balcony furniture, artwork, silverware, linens, plates, towels and similar items.  In addition, each unit will have data/telecommunication/entertainment technology, including flat screen televisions, high speed internet access, WIFI access, cable television, in-room PPV movie systems, door access control systems and fully integrated telephone system.

Can an owner finance the purchase of a resort condominium?

“Yes.”
 Purchasers are free to finance the purchase of their units through their own lenders or through the preferred lender for the project.  Each lender’s decision to make the loan will be based on the creditworthiness of the individual purchaser, value of the unit being purchased, and other criteria established by the lender.

When is the scheduled opening of the resort?

“The tentative opening date for the resort is September 2007.”
 However, this date is subject to change.

When can an owner begin using their unit?

“Owners will be able to stay in their units upon the Grand Opening of the resort by Hyatt.”

What is Beach by Design?

“Beach by Design is a comprehensive development plan adopted by the City of Clearwater with the intent of revitalizing and redeveloping the majority of the south beach portion of Clearwater Beach by implementing a redesigned systems of roads, public parking, landscaping, public attractions, walking promenades, street-level shopping and four-star hotel and resort developments.”

What is “Beachwalk”?

“As part of the Beach by Design redevelopment plan, a “Beachwalk” will be constructed from the Round-a-bout at Highway 60, continuing south down the beach and concluding at the Adams Mark Hotel.”
Beachwalk is planned to be approximately ½ mile in length and contain a walking promenade, retail shops, new landscaping, new streetscape features and public attractions.

How will Beachwalk enhance Aqualea Resort and Residences?

“Aqualea Resort and Residences was designed to be the central focus of Beachwalk, and as such construction of Beachwalk will coincide with construction of Aqualea Resort and Residences.”
Upon completion of Beachwalk, Gulfview Boulevard will be moved westerly towards the beach, a walking promenade will be inserted with lush landscaping and walking shops and cafés will be setup.  Beachwalk, Aqualea Resorts and Residences and other hotel developments will transform Clearwater Beach into an upscale beach resort destination 

When is Beachwalk scheduled to be completed?

“The City of Clearwater is scheduled to begin construction of Beachwalk by August 2005 with Phases I & II scheduled to be completed by August of 2007.”

Will Aqualea Resort and Residences offer a rental program?

“Yes.”
 Every purchaser will have the opportunity to place their unit in a rental management arrangement.  Further information about our rental program will only be provided upon request through the scheduling of an appointment with the Director of the Rental Program.

How can I learn more about Aqualea Resort and Residences?

To learn more about Aqualea Resort and Residences, please send us and e-mail with your full name, address and phone numbers and we will have one of our specialists contact you directly.
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