Feb. 03–ST. LUCIE COUNTY — A Las Vegas billionaire has purchased the site of the former Radisson Hotel on North Hutchinson Island.
On Dec. 11, Ruffin Properties LLC of Wichita, Kan., purchased the 11.78-acre beachfront property at the corner of State Road A1A and Shorewinds Drive for $6 million from Greenwood Development Corp. of Florida Inc., according to records from the St. Lucie County Property Appraiser’s Office.
The limited-liability company is owned by Phil Ruffin of Las Vegas, owner of Treasure Island Hotel and Casino on the Vegas Strip. Ruffin couldn’t be reached for comment Monday to discuss his plans for the property.
The site was in the spotlight four months ago when Singer Island developer George Heaton announced plans to build a 400-room luxury condo-hotel called Orchid Beach Resort. Heaton could not be reached for comment Monday and neither could his spokeswoman, Stacy Ranieri.
Heaton told Scripps Treasure Coast Newspapers in October that he planned to build three, 12-story buildings containing 400 hotel rooms, two restaurants, a spa, convenience store, gift shop, conference and meeting space for groups up to 750 people and a venue to hold weddings with up to 300 people. All parking would be under the building, the same arrangement as Heaton’s other hotel, the Vero Beach Hotel & Spa.
It is unknown how the change in ownership would affect his plans for a resort.
Heaton had said developing the resort was contingent upon him purchasing the land from Greenwood Development Corp., getting zoning changed and acquiring financing.
The property, south of a line of high-rise condos and gated communities, is zoned Hutchinson Island Residential. County planning staff, at Heaton’s request and with the approval of the St. Lucie County Commission, were writing a new zoning district for the proposed resort.
County Planning Manager Leslie Olson said rewriting the code is needed to address the “uniqueness” of the project. On Oct. 15 St. Lucie County Commissioners directed staff to work with Heaton to move the project along.
Heaton had not submitted building plans to St. Lucie County Planning department regarding the proposed hotel.
The proposed hotel would have a residential component that would allow some rooms to be sold to investors, Heaton said.
The site, 2600 N. A1A, was the location of the 150-room Radisson Hotel, before it was damaged by twin hurricanes Frances and Jeanne and closed in 2004.
The owner of the Radisson Hotel in 2005 sold the property for $17.9 million to Greenwood Development. Ruffin purchased the property for $6 million — $11.9 million less than the 2005 price, according to the property appraiser’s website.
In 1998, Ruffin purchased the New Frontier Hotel & Casino for $165 million and nine years later sold it for $1.2 billion, according to Forbes.com.
Ruffin, 78, has an estimated net worth of $2.5 billion and is listed No. 222 on Forbes magazine 2013 list of 400 richest Americans.
Past Shaping Our Future team coverage
–Rewriting zoning code may be key to proposed Orchid Beach Resort on North Hutchinson
–Treasure Coast officials hope wealth of hotels, resorts spurs growth
–Editorial: Orchid Beach Resort may be indicative of better economic times
–Vero Beach hotel gives taste of what might come to Fort Pierce — Photo gallery
–How proposed Orchid Beach Resort compares with Vero Beach Hotel & Spa
–Proposed luxury resort on North Hutchinson Island faces zoning hurdles
–More daily traffic expected if proposed resort built on North Hutchinson Island
–Developer has long to-do list before resort goes up at former Radisson Hotel site
–St. Lucie commissioners like island resort idea, want to see building plans — Map, rendering
–Developer proposing a resort on former Radisson Hotel site on North Hutchinson Island — Map
