The City of Seabrook acknowledges recent media coverage regarding the highly anticipated Compass Margaritaville development and its associated Planned Unit Development (PUD) project. This transformative project, as originally presented, includes a hotel, extended stay residence tower, restaurant row, and a multifamily complex.
Recent reports have highlighted a former representative associated with the project presenting a similar development concept to a neighboring city for potential incentives. However, the City of Seabrook clarifies that its current and standing PUD and incentive agreements are not with this individual but with the legal owner of the land, Seabrook Plaza One, LP.
Ian Hancock, the general partner of Seabrook Plaza One, LP, has reaffirmed his firm’s commitment to delivering a project that meets or exceeds the original development vision within the City of Seabrook. While contract negotiations are ongoing with a new developer and their funding partners, specific details remain confidential at this time.
The project’s owner remains enthusiastic about its future and looks forward to engaging with the City to present updated plans alongside new development partners. More details will be shared as they become available, and the City of Seabrook remains optimistic about the continued progress of this exciting development.