CHICAGO- To hear Jack Wolfe, partner at East West Partners tell it, resort redevelopment may be more cost effective than developing a new resort site.
As Wolfe related to a mid-afternoon audience on hand for a Hospitality, Resort and Recreation presentation at the Fall Meeting of the Urban Land Institute (ULI) here, in line with Reinventing Resorts, it may well be that “redevelopment stands to be the poster child for smart growth.” He added redevelopment should be a preferred course of action, no matter whether the site in question is a shorefront location or a ski-country destination.
According to Wolfe, one of the best reasons for exploring this strategy is the fact that new resort development costs have become prohibitive. He added that “just about all the really good development locations are already taken.” (11/2/00) – Michael Billig