Developer: Soleil Will Be Built When the Stars Align

Driving around town, you might wonder to yourself, like we did, “What's up with that project with the sign in the parking lot across from the Flanders Hotel?”

The sign shows a massive new building and asks passersby to "envision the perfect hotel suite in the perfect location ... now imagine owning it."

Ocean City Patch touched base with Russell Trier, developer of Soleil Hotel & Spa at 11th Street and Ocean Avenue, to check on the status of what would be the largest project to be built in the city in recent decades.

“We're sort of in a wait-and-hold situation based on the economy in general,” said Trier in a telephone interview from Kulpsville, PA, where he is building a 135-room Marriott Hotel.

Trier said he bought the Ocean City property, used as a parking lot for the Flanders and public, in 2003 and won approvals for the condo-hotel in 2009—at just about the same time the economy “had the hiccup.”

While Trier says interest has been high among potential buyers, there is no projected groundbreaking date, Trier said.

“All the stars have to be aligned,” Trier said. Prices range from $300,000 to $1 million per unit—there are efficiency, one- and two-bedroom models—depending on size and view. The condos surround an indoor parking garage, which will continue to be used by Flanders occupants as well as Soleil owners and renters.

Trier said the building was designed to be harmonious with the historic Flanders and "blend in in Ocean City."

"That's just being a good neighbor," he said. "This is not Ocean City, MD, or Margate."

“This has five-star amenities that Ocean City does not have now,” including a full-service spa, 150-seat banquet facility and shuttle service to and from airports, said Damon S. Bready, the real estate agent named on the sign posted on the site.

Bready said he receives calls from prospective buyers, but “it's kind of hard to sell something that's not there.” The Catch-22 is that banks are reluctant to finance such projects before 50 percent of units are sold, he added.

The Soleil condos would make great investments, Bready said, pointing to the Flanders as an example. Owners of those units gross about $20,000 yearly from rentals generated by events held in the hotel's banquet facilities, he noted.

Check out www.soleilhotelspa.com. You can reach Bready at 609-703-3030.