Broadwater owner optimistic about future development - WLOX.com - The News for South Mississippi

Broadwater owner optimistic about future development

BILOXI, MS (WLOX) -

By Jeff Lawson – bio | email

BILOXI, MS (WLOX) - The Broadwater Hotel, Broadwater Marina and the Broadwater Sun Golf Course are now just long ago memories in our post-Katrina world. The proud old hotel, which was once a showcase, is now just an empty lot. The marina is a marina no more, and the golf course property now looks like there was never a golf course there.

Roy Anderson, III said it is rather heartbreaking to see those properties these days. The lifelong coast resident's company owns the hotel and golf course property and leases the marina site from the state.

As much as anybody, Anderson wants to see the Broadwater properties thriving again. That's why his company continues to have conversations with potential developers.

"That has been our goal all along," Anderson said. "We would like to see one development for the entire 266 acres, from Pass Road to the tip of the marina."

But these days, developers have to put a lot more down in cash, and that's a problem. 

"Now, the equity markets require anywhere from 40 to 60 percent in cash, which makes a project unfeasible," Anderson said.

Anderson did say that with the new state law after Katrina, a casino could sit where the hotel once was. The golf course might stay a golf course, but with some housing. And Anderson envisions retail of some type on the property, along with a hotel. But right now, all that is just a vision.

Roy Anderson hopes by the middle of next year, some developer may come in here and get things started. Anderson added it is his goal that the property will once again be a place the entire coast can be proud of, and he hopes that day will be sooner rather than later.

Copyright 2010 WLOX. All rights reserved.

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