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.
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.