The long run has began to look brighter for the Quail Hole Resort property in Harmony Township.
We reached that conclusion after studying {that a} choose lately authorised the sale of the property following an internet public sale in March.
An settlement between receiver Prodigy Properties and purchaser Terra Silva Holdings lists a contract worth of $3,026,210, in keeping with courtroom paperwork, reported The Information-Herald’s Bryson Durst. Lake County Widespread Pleas Court docket Choose Jeffrey Ruple authorised the sale in an April courtroom submitting.
“Terra Silva Holdings, LLC, led by seasoned entrepreneurs Brenda Boice and Greg Baum, is proud to announce its acquisition of the historic Quail Hole Resort in Lake County, Ohio,” Boice stated in a information launch.
“Closed because the pandemic, the enduring 12-acre property will endure a complete, phased revitalization over the subsequent 18 months, mixing timeless allure with fashionable hospitality,” the discharge added.
Terra Silva stated it plans to “provide a five-star expertise at a budget-friendly worth level, with a deal with distinctive customer support, aesthetic attraction and considerate facilities.” A deliberate “hybrid enterprise mannequin” will embrace “conventional lodge choices with versatile use areas and fashionable conveniences.”
The corporate added it could use a indifferent constructing on the property for workplace house.
“We see this as greater than only a renovation — it’s a resurrection,” Boice stated within the information launch. “Quail Hole is a legacy property that deserves to be introduced again to life with care, creativity and a transparent imaginative and prescient for the long run.”
“From day one, this can be a labor of affection,” Baum stated within the information launch. “We’re placing within the sweat fairness to make this a vacation spot that stands out — not simply regionally, however nationally.”
The discharge described Quail Hole as Terra Silva’s first lodge venture. The company has actual property, renovation, branding and operations expertise.
It stated that Boice has greater than 26 years of expertise in property renovation and has led U.S. distribution for European hair care model Naturtint. Baum has labored on “large-scale infrastructure tasks, together with bridge development in New York, in addition to residential and industrial remodels.”
“Terra Silva Holdings is dedicated to re-establishing the resort as a cornerstone of the Lake County neighborhood, whereas welcoming friends from throughout the Midwest and past,” Terra Silva stated later within the launch. “Updates on the venture, together with the forthcoming new title and model id for the lodge, can be shared within the coming months.”
Township officers stated that they count on the sale of the resort property at 11080 Harmony-Hambden Highway to be accomplished in Might.
Township Trustee Carl Dondorfer described the resort as “the very first thing you see if you come into Harmony.” He stated that the trustees had acquired complaints in regards to the property and that it had not been maintained.
Trustee Morgan McIntosh stated that the proprietor’s excessive asking worth had prevented motion earlier than.
“This public sale has type of resolved that drawback, and in some way, we’re optimistic in regards to the alternative for one thing to occur, or no less than to maneuver by means of, an proprietor to select it up that’s going to do one thing constructive with this,” McIntosh stated.
The property was positioned up for public sale as a part of a receivership course of earlier this yr. The public sale was carried out in early March.
“The property, positioned in Harmony Township, has sat fallow for years attributable to its blighted and condemned constructions,” the township submitting stated. “The latest public sale resulted in a profitable bid that has the very actual chance of returning the property to financial viability.”
The Harmony-Painesville Joint Financial Improvement District employed a advisor to organize a report on the property final yr.
In a presentation final summer season, Silverlode Consulting President Dennis McAndrew mentioned financial and structural obstacles to reopening the property and offered ways in which the township might attempt to encourage redevelopment. He additionally listed mild business, senior housing, multi-family residences and single-family homes as probably the most viable makes use of for the property.
The April 15 submitting stated that internet sale proceeds will first cowl receivership prices after which will cowl specified tax certificates and judgment liens. The remaining proceeds will go to GP Lodge Ohio.
The close by Quail Hole Nation Membership is listed as belonging to a separate property proprietor and was not a part of the sale.
It was encouraging to learn excerpts from the Terra Silva information launch during which Baum and Boice expressed optimism and enthusiasm about reworking Quail Hole Resort into one thing new and thrilling.
We sit up for seeing the previous Quail Hole Resort turn into a high-profile and profitable enterprise in Harmony Township.
