BEDFORD, PA— A historic hotel here originally known as the Bedford Spring Hotel will soon be redeveloped, along with its accompanying golf course, into a four-star, 216-room destination resort by an undisclosed developer. Hudson Realty Capital LLC has provided a 24-month, $8.4-million interim loan for the project. Collateral for the funding is a second mortgage lien on the property, which is situated on 2,274 acres in the Southern Allegheny Mountains. Furthermore, the State of Pennsylvania awarded a $26-million grant to the developer for the project. Work at the resort is expected to be finished by May 2007. Plans call for the historic renovation of the property’s existing 202-year-old buildings, the construction of a 13,000-sf spa building and the redevelopment of the 18-hole golf course. Upon completion of the project, the resort will also feature indoor and outdoor pools, tennis courts, mountain biking and hiking trails and 22,000 sf of meeting space.
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