James Bishop, principal at WhiteStar Advisors and asset manager for the resort’s current owner, acknowledged the outstanding support and encouragement that LakeCounty officials gave to the buyer’s proposed redevelopment strategy. That plan included extensively renovating every building on the property, adding new hotel rooms and for-sale condominiums, improving and expanding the marina and re-establishing the outdoor concert program. All of these proposals were approved by a unanimous vote of the Lake County Planning Commission this past December. The buyers had also planned to Affiliate the resort with an international hospitality brand in order to gain access to world-wide reservations system.
Mr. Bishop stated that the property will continue to be marketed for sale and the Sedgwick’s group would be welcome to restart negotiations should financing alternatives become more available.