David Hanlon, CEO of Empire Resorts, says in a statement that this project will create 2000 permanent jobs to the residents of Sullivan County, as well as union construction jobs. Currently the project has been issued its foundation building permits and concrete work has begun for the new hotel and convention center.
The project calls for a 750-room hotel, 300,000 sf of commercial space, which is set aside for a casino, ballrooms, meeting rooms and retail entertainment. There are additional plans to build a 125-room Hotel and Spa, as well as reworking existing golf courses.
In early September, Concord Associates finalized an equity loan to meet the state's $300 million requirement after Gov. Paterson and the state's legislative leaders agreed on a tax rate revenue modification for racinos--combination raceway and casino.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
