In the first step towards revitalizing Upstate New York, Nevele Investors LLC has finalized the purchase of the 500-acre Nevele Grande Hotel and Country Club in Wawarsing for $6.7 million.
Since 2009, the Nevele Grande Hotel and Country Club has been closed. The property had gone into receivership prior to the purchase by Nevele Investors.
The new owners are looking to make the 450-room iconic hotel a family friendly, destination gaming resort.
If casino gaming is approved for the resort, Nevele Investors anticipates up to a $500 million redevelopment, which would transform the current site into a resort and casino employing as many as 1,000 people.
The investment group intends to preserve several of the Nevele’s historic elements, including the nine-story tower, entrance lobby and ice rink. It also plans to reopen the Nevele’s professional golf course and restore it to its former championship level status.
“It’s a first step in realizing our vision for a redeveloped Nevele resort and revitalized Catskills region,” said Michael Treanor, CEO of Nevele Investors. “The purchase is a key step in a regional initiative to drive tourism and stimulate area businesses. The Nevele has always been central to the regional economy, and our plan would restore it to its former use and prominence.”
The property spans nearly 500 acres and was once considered the crown jewel of the booming Catskills resort industry before it was shut down.
Both the town boards of Wawarsing and Ellenville, a neighboring community, have already unanimously passed resolutions permitting casino gaming in the region. Now, Nevele Investors plan to gather widespread local support in order to help push for a casino gaming license which could be available by 2013.
“We’re excited that this potential project is moving forward with the promise needed investment and job creation,” said Terry Bernardo, Ulster County Legislature Chairman. “The economic boost associated with the redevelopment of the historic Nevele Grande Hotel is critically needed in Ulster County.”
