Patel can finally build Clearwater resort

Philanthropist and entrepreneur Dr. Kiran Patel is busy building a mansion in the heart of Tampa's Carrollwood district, but now he's building a massive beach resort in Clearwater, too.

Yet getting through the red tape -- both on the government and contract negotiating side -- was not as easy as the WellCare Health Plans founder thought. The process took a decade from when Patel first announced the creation of Wyndham Grand Clearwater Beach Resort on South Gulfview Avenue.

Patel, through his development company K&P Clearwater Estate LLC, signed his last needed document July 23 with Wyndham to manage both the hotel and timeshare condominium sides of the property. The overall deal includes a $110 million loan that will go toward the construction of the two towers containing 345 hotel rooms and 105 condos.

When Patel bought the land for more than $13 million an acre back in 2005, he expected to move quickly on his plans for a mixed-use property, even knocking down three existing hotels that were there. But as the hotels came down, so did the economy, and it seemed Patel's $40 million investment would be nothing more than three empty acres.

Plans for the project now include a full resort with restaurants and bars, and more than 24,000 square feet of meeting space. The resort won't be finished until late 2017.