Board approves third extension for Diamond B M multifamily project; applicant cites financing delays

The Paradise Town Advisory Board on June 24 recommended approval of a third extension of time for a proposed multifamily residential development by Diamond B M LLC, allowing the applicant additional time to secure construction financing.

Marissa Berman, appearing for the applicant, said the project has completed many technical hurdles: approved drainage and traffic studies, a water-network analysis, county fire and water approvals, approval of civil improvement plans by public works, bonds posted and building-permit review concluded. Berman told the board that roughly $200,000 in water fees have been paid to date. “They just need, they're projecting by the end of this year to get their construction loan to be able to start on this project,” she said.

Board members noted previous extensions and expressed concern about repeated delays, but voted to recommend the third extension with staff’s preliminary conditions. Staff had previously approved two prior extensions — one in September 2021 and a second in August 2023 — with a commencement date previously set at June 19, 2025. The advisory board’s recommendation will move to the county commissioners for consideration; the applicant indicated a goal to secure financing and commence construction in coming years.

The board emphasized the development’s potential to add housing in the area and instructed the applicant to keep county staff informed of financing milestones.