News in The Coastal Star: “Partnersin renovation vie for ownership of historic Gulfstream Hotel”.

Remember that recent article published in The Palm Beach Post about the Gulfstream Hotel datelined Jan. 4th, 2018 with the headline, “Lake Worth’s Gulfstream Hotel project snarled in partner lawsuits”?

Well. Guess what? Below is news from The Coastal Star datelined Nov. 1st, 2017, two months prior
to the article in the Post.

Here are two excerpts by reporter Jane Smith (use this link to read the entire article):

Two partners are vying for control of the historic Gulfstream Hotel in Lake Worth as an April expiration nears on the city’s approvals of a proposed $70 million renovation.
    Steven Michael, a principal of Delray Beach-based Hudson Holdings, said his firm on Oct. 20 offered to buy out Carl DeSantis from his stake in the Gulfstream Hotel. The offer is good for 60 days, Michael said. He declined to offer details.
    “We have no comment on any proposed transaction involving the Gulfstream Hotel,” Jeff Perlman replied via email on Oct. 24. He is executive vice president of DeSantis’ CDS International Holdings in Boca Raton. “CDS Gulfstream remains the managing member of the property.”

and. . .

     To date, the only portion of the project completed has been the razing of two historic houses on the 1.8-acre site near the foot of the Lake Worth Bridge.
     Perlman declined to answer specific questions about when CDS Holdings took control of the hotel from Hudson Holdings and why the change occurred.

Whilst on the topic
of the Gulfstream Hotel. . .

Below is a blog post from last week about an article published in a former Lake Worth tabloid dated April 24th, 2015.

The opening two paragraphs:

Business owners on Lake Avenue were talking about it last summer [sic]. Hudson Holdings was buying several buildings in our downtown, a sign of their interest in the city and their willingness to invest in it while working to re-open The [sic] Gulfstream Hotel.
     “He went to me and four other people to buy our buildings,” said former art gallery owner Robert Pardo, speaking of Steve Michael of Hudson Holdings. “He signed offers and put us in touch with his lawyer. He went through the whole process, and then we waited for him to put the first penny down, and it never happened.”

Click on newspaper clipping to enlarge:

This newspaper clipping is from April 2015. Hudson Holdings purchased the Gulfstream Hotel in May 2014, less that one year earlier. It took until March 2017 for the derelict structures to be removed from the property. Who paid to have that word done? Click on this link to find out.

Then one month later. . .

Our plans are to rehabilitate this hotel [and] bring it back to its historic significance in the public areas, the lobby, corridors etc.,” said Steven Michael, principal of developer Hudson Holdings during a tour Friday. “We’ll do a complete rehabilitation of the whole building from top to bottom.”
—Quote from this article in the Sun Sentinel datelined April 14th, 2017.

If you’re not worried about the future of the Gulfstream Hotel, then you better start.

To save this old, grand, historic hotel we need more young people to get involved, especially so the Millennials in this City because, “We need activists. Young people with the energy and the passion to carry the fight forward.”

The Gulfstream Hotel being on the National Register of Historic Places, remember, is no defense against the wrecking ball. One need look no further that the former historic Pennsylvania Hotel in West Palm Beach for proof of that:

A Letter to the Editor dated April 4th, 1994

published in The Palm Beach Post:

“It is one of the few remaining structures from the city’s glorious but fading past.” But the Pennsylvania Hotel, like so many other historic structures, is no more.