The Poughkeepsie Journal has reported that a $100 million dollar hotel and tourism project to Hyde Park, New York. Hotel & Leisure Advisors prepared the feasibility study and the economic impact study for the proposed hotels.
BY: Craig Wolf
PUBLISHED: September 2015
HYDE PARK — Owners of a major vacant property are ready to move forward on a nearly $100 million mixed-use plan that would aim squarely at tourism and create hundreds of jobs.
The first-phase plan envisions two hotels plus retail and other amenities in the
T-Rex Capital Group LLC, which owns the 339-acre parcel, presented an update of plans to a joint meeting of the Hyde Park Town Board and the Hyde Park Planning Board Monday evening.
The T-Rex group bought the property in 2012 after a previous effort by a different group failed.
Their first-phase plan for “Bellefield at Historic Hyde Park” calls for developing two hotels, a conference center, a free-standing signature restaurant, a spa and culinary-based retail establishments with 40 residential lofts above the stores.
“Right now we’re focused on phase one, because that’s what everyone wants and needs today,” said Thomas Mulroy, CEO of the T-Rex company, who spoke with the
“I think the time is at a point in the market where you have very good capital markets, low interest rates,” he said. “
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