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Council Approves New Harder Hall Contract

BUYER FOCUSING ON SENIOR LIVING

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By Joe  Seelig | Highlands Today

Published: October 8, 2008

SEBRING - The Sebring City Council voted Tuesday to approve a contract for Harder Hall with Calibre Investment Group LLC, which wants to convert the historic hotel into units for independent living.

Council members, as well as the audience at City Hall and those watching on TV, heard Robert V. DePugh, a Calibre partner, give his vision for Harder Hall.

"We've put together a group of people we believe can get the job done," DePugh said.

The three-member group includes DePugh, with 35 years of experience in real estate development and management; Thomas A. Dentinger, with 30 years in mortgage banking, real estate finance and real estate development; and George K. Rahdert, a lawyer practicing in the field of communication, constitutional, commercial, civil rights and real estate law. All three are from Pinellas County, DePugh said.

Development would take place in two phases. The property would be re-platted into three separate plats, he said.

In the first phase, the building would be developed to include 80 independent living units, and the former lounge and kitchen area would be converted into a public space that could be made available for banquets.

Plat II would call for a re-platting into a small retail area for condo and office use, and renting to people who might provide services, he said.

Plat III would create additional rental housing for people in need of nursing care, easing people from retirement age to a time when they would require nursing care, he said.

DePugh said with 77 million baby boomers reaching retirement age within the next 10 years he hoped at least some of them would come to live in Sebring.

The full council unanimously approved the $5.3-million purchase agreement that included a liberal 120-day due diligence and inspection period.

A market study was to be ordered during the first 30 days, with the completion of an engineer's report within the first 45 days.

The deal includes a $200,000 escrow deposit, which could be refunded for any reason during the first 120 days. After 120 days, the deposit becomes the property of the city, according to Scott Noethlich, city administrator.

Should the developer need additional time, there are four 30-day extensions allowed. The developer would have to pay $25,000 more to the city for each of the three extensions, and the fourth one would cost $50,000.

Dentinger said the group will try to keep to the 12-unit-per-acre zoning.

"It will not be high density and it will not be high-rise," he said.

They anticipate 80 units on the remaining land to be zoned multi-family residential and or nursing homes, and have provisions for a retail-office strip with doctors' offices, elderly care services and clinics on Lake Drive Boulevard.

"When totally developed, the campus will permit residents to remain on the property for the remainder of their lives, should they so desire," according to the executive summary. "The first emphasis will be to complete the redevelopment of Harder Hall, thus returning the property to the "Grand Landmark" of Sebring.

"The second phase will be to develop the balance of the property. All existing and new buildings will architecturally complement each other, and the finished development will be properly landscaped to present itself as a historic resort in which all residents of Sebring can take pride."

"It's a contract we didn't have before," said Noethlich after the meeting. "The council and staff feel the independent living facility will be a good fit for the city."

Joe Seelig can be reached at (863) 386-5834 or jseelig@highlandstoday.com

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