Clearpath Services President Randy Lloyd said last week that if his development group’s soon-to-begin negotiations with Vero Beach city officials are successful, work at the Three Corners site could begin as soon as next year – with the initial phase of the project completed in 2028. The first phase would involve the easternmost section of the 17-acre lagoon-front property: construction of the Clearpath plan’s waterfront village, marina and docks. “We know with a project of this scope and scale, the community wants to get to something soon,” Lloyd told an audience of nearly 200 in a jam-packed Walax Stage room at the Riverside Theatre last Wednesday. “That’s why we really worked with the idea of trying to get some stuff activated,” he added, “so you don’t have to wait five years for everything to be completed.” The entire $250 million Three Corners project – which also includes a dramatic repurposing of the city’s defunct power plant, two adjacent hotels and construction of a waterfront event center – will be done in three phases and take five years to finish. But in an interview with Vero Beach 32963 after the two-hour presentation and question-and-answer session, Lloyd said his Indiana-based Clearpath team wants to “bring the community to the water first.” Clearpath and the city are currently in a 90-day pre-negotiation period, implemented to allow Lloyd to secure financing and finalize internal agreements and commitments from his partners. A month ago, in fact, Clearpath acknowledged receipt of a letter sent by City Manager Monte Falls to ensure the developer has the financial wherewithal – prior to the start of formal negotiations – to see the project through to completion. “We’re doing our due diligence and working to satisfy all concerns,” Lloyd said, adding that he was unable to comment on his efforts to replace Westminster Capital, which withdrew from the project only two weeks before Clearpath’s presentation to city’s Evaluation Committee, as his group’s financial partner. In his letter, Falls states that the pre-negotiations period may be extended “for cause,” but he warns that the city will not enter into negotiations on a Master Developer Agreement if it is not satisfied with Clearpath’s responses. “After the expiration of this initial period, if the developer cannot demonstrate financial capacity to complete the project, the city reserves the right to proceed with another preferred developer or to cancel the (Request For Proposals),” Falls wrote. “The city does not believe it is prudent to move forward with a contractual arrangement with a master developer without demonstrated financial capability.” The city has set a 120-day negotiating period that is expected to begin in late July and conclude by Thanksgiving. The city’s Three Corners project manager, Peter Polk, said successful negotiations could result in a contract being signed by the end of the year. In the meantime, Polk said the city is planning to bring in outside legal counsel and retain its outside financial consultant, PFM Advisors, to assist in the negotiations. Polk said Monday the city hadn’t yet decided who will serve on its negotiating team, but he expected to be joined by Falls, City Attorney John Turner and City Planning Director Jason Jeffries. “Once we hear from Clearpath,” he added, “we’ll respond accordingly.” Despite the current market conditions – tariffs on imported materials, the deportation of cheap labor and rising interest rates – Lloyd said he still believes the project is feasible and he’s looking ahead with excitement. “Real estate is not for the faint of heart,” he said, adding, “This team has been together since the beginning, since we started with this project.” Spurred by overwhelming voter support for a November 2022 referendum to allow commercial development on the northern tier of the Three Corners site, the city wants to create a dining, retail, social and recreational hub on the mainland’s waterfront. The city’s first attempt failed last summer, when a divided City Council chose the South Florida-based SuDa group to develop the property, only to disqualify its selection because its front man violated the terms of the RFP by directly contacting council members. The city restarted the process last fall but received only two proposals to its second RFP – one from Clearpath, the other from The Blue at Vero Beach, which was essentially a reincarnation of the SuDa group. Following a strong recommendation from the city’s Evaluation Committee, the council voted unanimously in April to embrace Clearpath and its Three Corners vision, despite the loss of the group’s financial partner.