Times Square property owner Terry Persaud will soon be asking the town to approve a new 4-story building in Times Square on property he owns. Persaud appears to be going it alone after being part of a Times Square group that pitched plans for the entire area.
Persaud will ask the town for 8 deviations from the Land Development Code. He wants a 58,630 square foot building with 50 hotel rooms, a restaurant and retail space. His proposal is for the property where Sunset Grill once stood which was a total loss in Hurricane Ian. Persaud also owns the former Pierside Grill property on the other end of Times Square on the beach side. That property has yet to be cleaned up from the storm.
Back in May Persaud was requesting 24 hotel units. What he’s proposing sits on .5 acres of property. By right property owners in Times Square can build up to 3 stories, 30 feet in height.
In June of 2024 a group of Times Square property owners held a public meeting at DiamondHead Resort where they presented a one large development project that included most of the parcels in Times Square with a connected building.
That idea seems to have gone by the wayside. Getting all the property owners to agree on a concept was a tall task to begin with. Several pieces of property in Times Square have been up for sale for many months. The Plaka property on the corner by the clock was recently sold to 1001 FMB LLC from Dania Beach, FL. for $3.65 million.
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