Hyde Park, N.Y., plans for $100M tourism project

Owners of a vacant property in Hyde Park, N.Y., are ready to move forward on a nearly $100 million mixed-use plan that would aim at tourism and create hundreds of jobs.

The first-phase plan envisions two hotels plus retail and other amenities in the Bellefield district on the east side of Route 9 across from the Culinary Institute of America. A later phase would involve building housing, more than 500 units, which would bring the total investment to $500 million.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

T-Rex Capital Group, 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. 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 freestanding 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," Thomas Mulroy, CEO of the T-Rex company, told the Poughkeepsie Journal Monday.

Suggested Articles

The REIT said that it does not expect to see a meaningful increase in demand for its portfolio until there are COVID-19 medical solutions in place.

Choice Hotels International hailed its strong domestic drive-to and leisure markets as it reported growth in occupancy and conversions.

The platform’s new dine-in features provide restaurant patrons safe and secure contactless tableside ordering and payments functionality.