Entertainment Properties Trust and Empire Resorts Announce Master Planner Selection For Concord Site Development
August 04 2011 - 10:41AM
Business Wire
Entertainment Properties Trust (NYSE:EPR) and Empire Resorts,
Inc. (NASDAQ: NYNY) ("Empire") along with MSEG, LLC today selected
Hart Howerton Partners, LTD. of New York City to be the Master
Planners for the development of the former Concord Resort Property
owned by EPR in Sullivan County, New York.
The Master Plan is the first step in establishing a new vision
for the revitalization of the former Concord Resort. Under the
agreement Hart Howerton will create a new Master Plan for the
mixed-use of the property envisioned to include an anchor casino
with harness racetrack, hotel, two golf courses, specialty lodging,
complementary retail and recreational uses, along with new
residential communities.
David Brain, President and CEO of EPR commented, “This is an
important milestone in our efforts to revitalize this part of New
York State and we are confident that a concept that realistically
accommodates a variety of resort destinations will be
well-received. Hart Howerton brings the proven success and
experience necessary for this important role and we are pleased to
be partnering with them.”
About Entertainment Properties Trust
Entertainment Properties Trust (NYSE:EPR) is a specialty real
estate investment trust (REIT) that invests in properties in select
categories which require unique industry knowledge, while offering
the potential for stable and attractive returns. Our total assets
exceed $2.7 billion and include megaplex movie theatres and
adjacent retail, public charter schools and other destination
recreational and specialty investments. We adhere to rigorous
underwriting and investing criteria, centered on key industry and
property level cash flow criteria. We believe our focused niche
approach provides a competitive advantage, and the potential for
higher growth and better yields. Further information is available
at www.eprkc.com or from
About Empire Resorts
Empire Resorts owns and operates, through its subsidiary
Monticello Raceway Management, Inc., the Monticello Casino &
Raceway, a harness racing track and casino located in Monticello,
New York, and is 90 miles from midtown Manhattan. For additional
information, please visit http://www.empireresorts.com.
About MSEG LLC
MSEG LLC is a real estate development and management company
which concentrates on properties in the sports, entertainment and
hospitality industry. MSEG LLC has been selected by the City of
Davenport as the developer of the new land based casino in
Davenport, Iowa, MSEG LLC is also involved in the ownership and
operation of the Lake Erie Crushers in Avon, Ohio. The Crushers are
a professional minor league baseball team that plays in the
Independent Frontier Baseball League.
About Hart Howerton
Hart Howerton is a creative team of land planners, urban
designers, architects, landscape architects and development
strategists with four decades of experience optimizing the value of
real estate assets. With offices in New York, San Francisco, London
and Shanghai, Hart Howerton handles complex projects in sensitive
locations throughout the world. Their industry-leading approach
(“Designing Complete Environments”) combines market-driven planning
and design with economic feasibility, development and marketing
savvy, environmental sensitivity and entitlements expertise.
Working with leading developers, institutions and landowners, the
firm has delivered successful world-class real estate ventures and
places of lasting legacy in their communities. The firm is
currently working in more than 30 countries worldwide. Hart
Howerton projects include nine of the top twenty-five resorts on
Travel + Leisure’s Top 100 Places to Live, 2009, and seven of
America’s Top 10 Golf Communities, according to Travel + Leisure
Golf. Visit www.harthowerton.com for more information.
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