EPR Properties (“EPR”) (NYSE: EPR), together with Empire Resorts, Inc. and its wholly owned subsidiary, Monticello Raceway Management, Inc. (together “Empire”) (NASDAQ-GM: NYNY) last night received approval from the Town of Thompson Town Board on the Comprehensive Development Plan (“CDP”), SEQRA findings and the Planned Resort Development Text Amendments (“Amendments”) for the 1,583-acre site of the former Concord Resort (“EPT Concord Resort”). Approval of the CDP and SEQRA findings and the adoption of the Amendments means the joint developments can now move forward with the submission of individual site plan applications, thus initiating the commencement of the build-out of the proposed EPT Concord Resort.
The transformative CDP for the EPT Concord Resort is anticipated to create a world-class, four-season destination resort and multi-use residential community, reigniting the Catskill tourist industry which historically supported the regional economy. As a catalyst for economic growth, it will transform the patterns of employment, development and investment in the area.
As submitted, the plan includes an indoor water park, 18-hole golf course, hotels, an RV park, and an entertainment village with a cinema and supporting retail, and a Casino Resort (including a harness horse racetrack, grandstand/showroom, simulcast facility, and hotel).
In addition, the plan includes a residential village with a mix of unit types including condos, apartments, townhouses and detached single family homes, a civic center, and an active adult residential community. This mix of uses will be connected to abundant open space, via a multi-use trail system.The initial phase of development and construction includes the Casino Resort comprising of an approximately 117-acre development area in the southern portion of the EPT Concord Resort. It is anticipated that construction of the Casino Resort will begin in the spring of 2013. Shortly thereafter, it is anticipated that site plan approvals for both the Golf Phase and select components of the Entertainment Village Phase will be obtained with construction of all three of these elements completed in 2014.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV