According to a published report, Silvi could enter into a development agreement at least with Eagleswood Township as early as the end of June for the portion of the project that would occupy the 600 acres that lie in that township. And an application could arrive on the desks of Stafford Township officials by the end of the year, according to the report. Silvi Group officials could not be reached for comment.

Under general plans outlined to local officials of the two adjacent Ocean County communities, located about halfway between Toms River and Atlantic City, the site would be transformed into what the owners are calling the Eagles Lake Golf Resort. Silvi officials say they have lined up golf architect Pete Dye to design the layout of the course. Besides the golf course, which would be situated on the 400 acres on the Stafford Township side of the tract, the owners would like to build as many as 100 homes surrounding the links.

The Eagleswood Township side of the tract, which totals some 600 acres, includes a 50-acre lake that would be expanded to more than 400 acres. A portion of the remaining acreage would hold the hotel and convention center, a restaurant, a bathing beach and related recreational space, and possibly a marina. Company officials have told the two communities that they plan to build the whole thing out in five-year increments over a 20-year period.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.