When I talked to the developer, they confirmed the basic story here, and said they are looking forward to developing this “great piece of real estate.” In the short term, they’ve already contracted with Quiksilver to use the site as a Media Zone during the competition.
The developer said they are not yet sure what they plan to do with the site, but that it is a one-of-a-kind plot, right on the ocean and they already have permitting to develop a multi-family building (though that is not necessarily the direction they are going).
After the Aqua, it will be interesting to see if they go the way of a another condo complex, or if they look at retail/restaurant as a better use of the space. We all know the parking wars that have gone on across Broadway, so that will certainly create a challenge for anything commercial. What do you think they should do with that 1/3 of an acre lot?