Saturday, January 6, 2018

 

 

 

Investment to redevelop Nevele resort moves forward

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ELLENVILLE – Nevele Resort and ProSport Campus in Ellenville/Wawarsing has successfully completed its first round of funding, Asia Pacific Investment House reported on Friday.

The total development budget is $318 million with early indications looking “extremely positive for the second round now open to investors” via the venture and private equity advisory firm.

The redevelopment plan will see the 580-acre former hotel/resort converted into a conference and youth sport center, which will include a 500-room hotel, spa, conference center, dining facilities, an 18-hole golf course, nine Major League Baseball and Little League baseball fields, a 14-court tennis academy, golf course, biking, zip lining, skiing and ice skating.

“The range of amenities, services, and attractions, and access from New York City positions the resort distinctly, to meet the strong demand for second homes in the Hudson Valley where the supply of similar homes is very limited,” said Graham Kwan, CEO of Character Capital, the co-developer of the resort with Nevele Partners.

 


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