Press Release: May 4, 2017-New York City,NY

NY-based conference producer iGlobal Forums Inc. has announced its selection of Los Angeles-based Bob Sonnenblick, Chairman of Sonnenblick Development LLC, to speak at their upcoming Real Estate Lending & Investment Summit on Wednesday May 17th at the Pierre Hotel in New York City. Mr Sonnenblick will speak on the topic of: Demystifying the Capital Stack, a discussion on Mezzanine Financing in today’s real estate marketplace.

After the initial session, Mr Sonnenblick will also lead a second panel on: The Borrower’s
Insights on the Mezz & Preferred Equity World.

For more information, please contact:
iGlobal Forum at 212-752-7760 or
info@iglobalforum.com

PANAMA CITY, Fla. – Tuesday night, city officials and developer Robert Sonnenblick held a special meeting to reveal updated Marina Redesign Plans. Sonnenblick presented the public with a 3D model that provided a detailed showing of the revisions. The updated plans were designed and revealed after a string of special meetings to get public input.

“I’m excited about the marina project. I think having a lighthouse, restaurant, hotel, all of the things I’ve heard about it are really positive things,” said Little Mustard Seed Owner Greg Snow.

Snow has operated his business out of a shop off Harrison Avenue for two years. He, along with the commission, believe the revised plans will improve economic growth downtown.

“I’d really like to have some residents at the marina project, more people that will eat at our restaurants here, shop at our store, shop for a quick gift maybe on the way home,” said Snow.

“The mayor has said and all of us have said we want to unleash the potential of downtown Panama City, and this is the catalyst that can do that. This can bring Harrison Avenue to life,” said Panama City Commissioner Billy Rader.

Wayne Wright has been a Panama City resident for over thirty five years. He has followed the redesign plans every since they began years ago and remains hopeful that the project is actually moving forward.

“I think it would be beautiful now that they got the wheels in motion, if they can get it to go in the way that it’s supposed to go and everybody do their end of it,” said Wright.

Rader believes Sonnenblick has incorporated the components that citizens have emphasized the most.

“He can’t do everything that everybody he wants, but he’s going to do the best that he can and what his bank will allow him to do and what the commission will approve. Nothing has been approved. No contract has been signed. We need to be realistic about this,” said Rader.

The final plans for the redeveloped marina are due by late May. However, Sonnenblick is requesting an extension. The commission is assuring that more public meetings will be held before any plans are finalized.

View at MyPandle.com

By Byron Khalil |
Posted: Wed 2:53 AM, Apr 26, 2017

PANAMA CITY, Fla. (WJHG/WECP) – Panama City commissioners are talking about new ways to bring more people to downtown through the area’s marina project. New designs were revealed at Panama City marina development meeting on Tuesday.

Bob Sonnenblick, the marina project’s developer showed a 3D design at the meeting. Some at the meeting say they were pleased to see a more detailed plan for the marina space.

In the meeting Sonnenblick announced two new additions to the existing marina design. The first was a series of factory outlet stores spanning over 150,000 sq ft. He says they will be high end stores that offer discounted prices. Sonnenblick says that should bring more foot and car traffic through the downtown area.

Sonnenblick’s second announcement was his plan to build properties on Beach Drive near the marina. He proposed two high rise buildings, one rental and one residential building.

“I am concerned about the boat trailers and the people that live here that like to use our waterfront. This is part of the reason we live here,” Lesley Fontaine said. She lives in Panama City.

“Then he’s added this new idea of retail that sounds interesting. I’d like for the stores to be more exciting than just saying outlet stores, but still it sounds like they really are bringing in people,” Camila Jimmerson said. She’s also a Panama City local.

During the open comment portion of the meeting some locals expressed concerns about traffic along Harrison Avenue. They say the current street conditions cannot handle more cars on the roads than it already does currently.

Throughout the meeting Sonnenblick made it clear these designs are not final. He even pointed out several things that could be changed before the meeting ended.

Sonnenblick says all parts of the new marina will be built at the same time in one phase. He estimates the entire project will take two years to complete.

View on WJHG TV

PANAMA CITY — Developer Bob Sonnenblick returned to Panama City on Tuesday night with big dreams and bigger promises for the marina redevelopment project, which now includes an outdoor outlet mall and white sand beach along East Beach Drive.

Saying he “would not leave” without answering everyone’s questions, Sonnenblick, along with his partners at Bellingham Marine, Florida Architects and GAC Construction held the floor for more than two hours, fielding questions, comments and concerns from the public, mainly focused on the boat ramp and potential parking.

It was the first time the developer has been in town since reviewing public comments regarding the project forwarded by the city. Many of those comments expressed concern that the project was becoming overcrowded and some residents were upset at the recent addition of outlet stores around the Marina Civic Center, particularly because they block access to the boat ramp.

“We will not build this project without boat ramps … and parking,” Sonnenblick told the audience, adding that the boat ramp, which he proposes to double in size, likely will be moved to the other side of the marina along East Beach Drive.

Also featuring heavily in the plans presented Tuesday were a pair of high-rise residential towers on property owned by George Kingston, who Sonnenblick referred to as a “partner.” The plans call for the relocation of East Beach Drive to accommodate the condos and a white sand beach across the road.

“This is going to be an amazing beach,” Sonnenblick said.

With the addition of the residential towers, Sonnenblick hinted a grocery store might be back on the table for the downtown area, declining to state names, but saying it was an entity which had an agreement several years ago that fell apart.

Tuesday’s meeting also saw the debut of Bellingham Marine, Sonnenblick’s replacement for Legendary Marine, to answer questions regarding the actual marina function of the project. Manager of Project Development Steve Ryder said the new marina will have 236 slips and accommodate boats up to 200 feet long.

Sonnenblick also promised to keep a fishing pier, as well as a lighthouse, which in models shown during the meeting was more of a glass tower-type structure with a stairway and observation deck. Parking would be confined to garages flanking Harrison Avenue on either side of the marina’s entrance, as well as under a sloped esplanade running down the middle of the marina where the marina’s green space currently is located. The 9/11 memorial also would be moved, likely in front of the Civic Center.

Sonnenblick said the price tag on the project will be close to $300 million and construction will take two years. The developer said phased construction “wouldn’t work” and would be done all at once.

Above all, Sonnenblick emphasized nothing is set in stone with regards to the marina, especially because the city has not officially selected him as the project’s developer. His exclusive negotiating agreement with the city expires in May and will need to be extended, he said, for him to be able to conduct the feasibility studies he needs to move forward.

“We’ve redesigned the marina,” he said. “It will work now. It will be a working marina that will last 30 years.”

Residents were skeptical but encouraging during public comment, with many expressing hesitancy about the scale of the project, but wishing Sonnenblick luck.

A date has not been set for the next meeting.

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