Treasure Island rejects Thunderbird owners’ proposal

Treasure Island’s iconic Thunderbird Beach Resort will come down. That much is certain.

When the demolition will occur, and what exactly will replace the nearly 70-year-old Gulfside hotel, are unknowns.

City commissioners voted Wednesday to deny the Thunderbird’s owners, who bought the property in 2024, permission to build higher (from 60 to 80 feet) and with more rooms.

“We all love the Thunderbird,” said Vice Mayor Tammy Vasquez at Wednesday’s commission meeting. “I’ve spent many sunsets behind the Thunderbird. But in this particular case, we have to do what’s right for the city, and we have to do what’s right for the citizens of the city.”

Residents made their feelings known, saying that Treasure Island would lose its unique identity should the “new” Thunderbird’s owners be allowed to add to its height.

Treasure Island, they argued, should not become a “wall of tall buildings” that blocks views of the water.

Speakers also decried the city’s lack of a master plan, calling it irresponsible to consider one development at a time, potentially using a different set of criteria for each case.

READ MORE: Treasure Island’s iconic Thunderbird: Past, present and future

As Thunderbird Holdings, LLC, South Florida-based brothers Avi and Gilad Ovaknin purchased the Thunderbird in September 2024. Just in time for Hurricane Helene, which caused considerable damage to the resort.

The brothers pledged to retain the Thunderbird name, and the world-famous, five-story neon sign, while elevating the buildings “to be more resilient to the challenges posed by severe weather.”

“Our new plans reflect a thoughtful balance of preservation and progress,” they pledged in a public statement. “While the structure and layout will evolve, the spirit of the Thunderbird will live on.”

Before the final vote of denial sent the owners back to the drawing board, Gilad Ovaknin addressed the commissioners. He responded to Vasquez’s inquiry as to why the property, on the beach side, was still somewhat unsightly from the 2024 hurricane damage, and why demolition had not commenced.

“We’ve been sitting with the property for 14 months without any income,” Ovaknin said, adding that the estimate for demolition was close to $500,000.

“We’d like to defer any expense to the time that it’s really relevant. The right time for us, in terms of the prospective, is once we get the entitlement – meaning we have the approval, that we know that we can go to more detailed plans. At the same time we can do part of the demolition. That would make more sense for us.”

“In terms of aesthetics, I’m sure it’s not going to be the best thing to have another vacant lot over here, really for no reason.”

Commissioners voted to issue an RFQ (Request For Qualifications) for a Master Planner.