DIAMOND BEACH — Will Eustace Mita and Archristavest, developers of the Grand of Diamond Beach condominiums, save Cape May’s Beach Theatre?
Lower Township Planning Board granted Achristavest and Mita preliminary site plan approval June 19 to build another Grand condominium, Grand South, a 12-story, 98-unit project, next to the current building under construction here.
Asked by the Herald, following the meeting, if he had an interest in saving the Beach Theatre, Mita said he was looking at that project at this time. He said while at this point he has not been able to “make the numbers work for the Beach Theatre, he was continuing to evaluate the site.
“We’d want to keep the theater and put some condos on top,” said Mita. “Right now, in this market, you’d have to work hard to make those numbers work.”
“We’re very anxious to do something in Cape May,” he continued.
Achristavest has also done projects in Ocean City, Avalon and Longport, said Mita.
The board approved Grand South, which required no variances, in 30 minutes. Approvals for the first Grand entailed multiple meetings, which stretched over years.
Mita said he expected to break ground for Grand South in about five years and considered it phase three of the project.
Phase two of the project, Grand West, a smaller five floor, 63-unit condominium across Atlantic Avenue, would break ground in four years, he said.
No members of the public were present to comment on the project as compared with a meeting room full of residents in the past.
Grand South will occupy the current site of Pier 6600 hotel.
For complete details on Grand South, see the Herald’s June 25 edition.
