New casino resort in the Poconos?
Nov 15 2005 in Events and Outings by thestarter
Atlantic City and Connecticut casino operators may want to watch their backs. Former New Jersey homebuilder Greg Matzel's new firm, Matzel Development, is planning to buy a resort complex in the Pocono Mountains and apply for a Pennsylvania state gaming license.
Matzel's plans call for the construction of a 1 million square foot hotel and casino in a town called Pocono Manor, Pa., on the site of the Pocono Manor Inn and Golf Resort. That includes a 750-room hotel and room for about 5,000 slot machines. The developer said in a statement that “if and when” he gets his gaming license (the application deadline is December 28) the first phase of the project, including the construction of the hotel/casino, would take two years.
Globe St. has more details:
The first phase of the redevelopment includes renovation of the inn, the equestrian center, one of the golf courses and several older buildings on the property. It also calls for construction of a one-million-sf hotel and casino complex. The new hotel, according to the spokesman, “will contain 750 rooms in a building of between 18 and 25 stories. The casino is designed to accommodate 5,000 slot machines.”
Additional plans also call for “a 300,000-sf retail village that will include a 45,000-sf restaurant, a 100,000-sf village green for outdoor events, and a 12-acre lake. The second phase will include a town square of approximately 1,500 residential units, including time shares,” he says. Approximately one-third of the property will remain undeveloped. “If and when we receive a gaming license,” he says, “phase one will be completed within two years.”
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