Entertainment Properties Trust (NYSE: EPR) and Empire Resorts, Inc. (NASDAQ-GM: NYNY) presented an overview of the master plan for redevelopment of the former Concord Resort property in Sullivan County, New York yesterday.
The presentation before the Town of Thompson Board was held at the Eugene Nesin Theater in Monticello and open to the public in order to continue a dialogue with the community. A comprehensive transformative master development plan for 1500 acres at the site of the former Concord Resort was presented by the industry-leading architect and master planning firm Hart Howerton.
Reminiscent of the region’s rich history, the new destination resort is expected to include a casino, hotel and harness racetrack, specialty lodging, a championship golf experience, coupled with retail, dining, entertainment and recreational uses, along with new residential communities. The planned family and entertainment destination is expected to create over one thousand jobs and includes hundreds of millions of dollars of investment in the county.
The proposed master plan represents a new way of thinking about resort development in the Catskills. Unlike one dimensional plans of past, it envisions a multi-faceted destination resort, which will become the center of tourism and investment in the region. A place to find adventure or relaxation, it will offer family-centered attractions and amenities surrounded by the natural beauty of the Catskills.David Brain, CEO Entertainment Properties Trust commented, “This was an important opportunity for us to connect with the community and articulate our vision. We are excited to continue down the path toward development of this new and exciting family and entertainment destination. We are committed to bringing our plans to reality and will certainly maintain a dialogue with the community as we do.” Emanuel Pearlman, Chairman of the Board of Empire Resorts stated, “We were pleased to join Entertainment Properties Trust yesterday to present the vision for the Concord Resort to the Town of Thompson and the people of Sullivan County. Our proposed casino, harness racetrack and hotel is the anchor of this totally new vision for the Catskills. We have assembled a great team that is working with a sense of urgency. We look forward to reporting on our progress to the Town of Thompson Board in the near future."