OCEAN LAND INVESTMENTS ENDS DEAL TO BUY BRINY BREEZES RESIDENCES

The defining issue was “density.” Ocean Land’s plan would have had a living unit density approaching 60 units per acre, which was deemed unacceptable. Then a meeting was planned for Ocean Land to meet with interested parties from the wealthy nearby communities of Ocean Ridge and Gulfstream, but it could not be done prior to the date when a large portion of Ocean Ridge’s deposit would be non-refundable. The amount would increase from $500,000 to $5-MM. Ocean Land requested more time from the Briny Board (45 days more) to talk with neighbors, and they said “no,” so Ocean Land “pulled out.”