"All of the land was acquired in several parcels that traverse Tobyhanna and Pocono townships and the Borough of Mount Pocono," a Matzel spokesman tells GlobeSt.com. "The legal separation of this portion represents the first step in the overall approval process." It clears the way for submission of the site plan application to the Tobyhanna board. Andrew Bennett, regional manager for Pennoni Associates Inc., the developer's engineering firm, says he plans to submit the plan within the next 60 to 90 days.
Greg Matzel, president of Matzel, previously announced plans to construct a temporary gaming facility to accommodate 1,500 slot machines within nine months of obtaining a license. Later, the 100,000-sf temporary building would be converted into a 6,000-seat arena.
The entire Pocono Manor Resort & Casino development, projected to cost about $1.4 billion, is the largest of the gaming plans submitted to the state for a category 2 license. The full plans encompass a 750-room hotel, a 120,000-sf convention center, a 1,800-seat theater, 36 holes of golf, a 12-acre man-made lake, nine restaurants and five nightclubs, among other amenities.
In addition, Matzel has entered into a 50/50 joint-venture agreement with Chattanooga, TN-based CBL & Associates Properties for a 616,000-sf retail village. The agreement is contingent on Matzel's receipt of a gaming license, according to a CBL spokesperson.
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