"We are very optimistic that we can finalize the deal within 60 to 90 days or sooner," Ira Mitzner, senior vice president of the RIDA Development Corp.-Apollo Real Estate Advisors joint venture, tells GlobeSt.com. RIDA is based in Houston; Apollo, in New York.
If the deal is done as anticipated, ground-breaking would occur immediately adjacent to the two operating golf courses.
The hotel's hard construction cost will probably be "north of $200,000 per room," or at least $150 million, Mitzner says.
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