Case Study — Warm Mineral Springs Resort
How We’re Revitalizing a Piece of Northport.
After years of directing his ailing patients south to heal in the warm waters of Warm Mineral Springs in North Port, Florida — a world-renown geothermal springs known as the “Fountain of Youth” — Dr. Grigory Pogrebinsky, a visionary New York physician, determined that Warm Mineral Springs would inevitably become an International wellness tourism destination and invested in land in the area.
With Warm Mineral Springs having the highest mineral content in the U.S., and the third highest in the world, he felt this was the right place to build his dream of a holistic wellness resort encompassing a health and wellness center, a boutique wellness hotel, an assisted living facility, multi-family residential dwellings, and a commercial hub.
Dr. Pogrebinsky initially contacted Firmo Construction with the desire to gain real estate development and construction advice. Firmo, having master planning experience of multi-use sites, financial services, and development, knew we could help Dr. Pogrebinsky. Preliminary investigation for planning began and a solid concept was developed.
Addressing the key issues first, Firmo had determined the level of interest and engagement from Sarasota County and the City of North Port officials, who would be instrumental in assisting with the development of the land. The level of the public’s interest was also vetted. The possible benefits of increased economic opportunity, new amenities, and an increase in property value were a win for the city and its residents. With public sentiment and local government support behind us we began looking at the site’s challenges, which included: limited utilities, a need for water and sewer lines to be installed, and the cost of impact fees. Also needed were plans to create a more pedestrian-friendly environment as Cortez Blvd has no curbside or sidewalks.
Ruth Buchannan, the head of Economic Development Corporation, understood the vision taking shape and became involved to help move this project forward. Carefully considering all of these factors, Firmo began to create a master plan concept of the new development along side Dr. P. Making sure that the build-out would be done in a sustainable manner was first and foremost on our list; in keeping with our company’s mission. We were also keeping in consideration the possibility of a future LEED rated neighborhood.
Next, a long-term, phase-based timeline was created to make sure each building’s purpose was best suited to the greater vision of the project. Walkability of the neighborhood was also very important in creating a total wellness environment. The opportunity to create a hotel, residential, medical, retail, and office space was a unique challenge. To design and build it with a modernist scope of style principals based upon the Sarasota School of Architecture, even more so.
After finalizing the concept plans, we determined the first phase would be constructing the Health and Wellness Institute. The hotel and assisted living center would be part of phase two. The 72 multi-family homes would be built in the final phase. The completion of the entire project was estimated to be about four years.
Fast forwarding to today, phase one has finished the permitting phase, with a groundbreaking planned for later this year. The Institute will have fitness and nutrition classes, with eventual long range plans to be incorporated as part of an overall detox vacation package. Completion of the Institute’s construction is scheduled for the end of this year.
With this completed project, Firmo, Dr. Pogrebinsky, the investors, and the city commission hope to add to the revitalization of the area already started by the Atlanta Braves baseball organization and its new, nearby training facility. We hope it becomes a vacation and residential destination for those interested in living the total wellness lifestyle.
For more detailed information please visit wmsresort.com.
If you are interested in investment opportunities and want to find out more about the project, please contact Eric Collin with Firmo Construction at firstname.lastname@example.org.