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Riverhead Resorts Pitches $500M Project

RIVERHEAD, NY-The former Grumman site could be home to half a billion dollars worth of indoor ski slopes and manmade lakes.

By Sean Ryan | Updated on June 21, 2007

RIVERHEAD, NY-Bayrock Group has teamed with Riverhead Resorts to pitch a massive recreational project on the 755-acre former Grumman site here. With a total estimated cost of at least $500 million, of which Bayrock has pledged at least $100 million of its own.

Riverhead Resorts will be centered around a 90-acre man-made lake. A 350-foot to 400-foot indoor ski slope and indoor water park will be designed to operate in all four seasons. Other features include hotels, timeshare housing, a spa, an equestrian center, a seaport, farmer’s market, and a 100,000-sf exposition hall.

“We’ve put together a great team,” Don Secunda, partner with Weber Law Group, tells GlobeSt.com. Weber is representing the proposal. “All the people involved have experience in putting together resorts.”

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