UPDATE Lake Lanier Islands Getting $200M Facelift

LAKE LANIER ISLANDS, GA-Gwinnett County investor Virgil R. Williams and his family, through their LLI Management Co. LLC, plan to invest a minimum $200 million over the next five years in repositioning the 1,100-acre Lake Lanier Islands resort as both a family and corporate meetings destination, the developer has told the Lake Lanier Islands Development Authority and Hall County elected officials.

The $200 million number could easily double, Williams told a breakfast meeting at the resort, area sources who attended the session, tell GlobeSt.com. Williams estimated the redevelopment undertaking could add up to 680 new jobs and $100 million in annual revenue to Hall County coffers.

Williams has retained Orlando-based Canin Associates Inc. to master plan Lake Lanier Islands and have the blueprints ready by fall. The first construction phase of the redevelopment is tentatively set for 2008, Williams has told local brokers and government officials.