Jerry Pospisil, a former Disney executive, is overseeing the revival of a planned development in the shadow of Great Smoky Mountain National Park that would include three signature golf courses and a 16,000-sq. ft. spa.
Jerry Pospisil, a former executive with The Walt Disney Company, is overseeing the development of a $14 billion lifestyle resort complex, Spa Opportunities reported, that would stretch over 4,500 acres in the picturesque Jonathan Valley of western North Carolina, in the shadow of Great Smoky Mountains National Park. The park is one of the most popular visitor attractions in the U.S., receiving more than 10 million visitors each year.
“The resort will combine wilderness experiences, upscale amenities, family entertainment, casual and fine dining, retail shopping, lodging and championship golf,” said Pospisil, who is now President of Cataloochee Holdings, a development company that will spearhead the project and that is a subsidiary of EquiTrust, a Maryland-based real estate investment group.
The resort was initially proposed by previous developers, Spa Opportunities reported, but the plans fell through following the economic downturn. The project is being resurrected by Cataloochee Holdings to meet growing demand for services, amenities and housing in western North Carolina. The project would create employment for more than 3,700 people, the company says.
The master plan for the project, Spa Opportunities reported, seeks to create an “architectural environment with a sophisticated rustic outdoor character that reflects the spectacular landscape of lakes and valleys.”
The resort, Spa Opportunities reported, would be set around The Commons, a “pedestrianized” main street, with a 450,000-sq. ft. retail store and a public plaza. Pathways would lead guests towards a 14-screen cineplex, luxury hotels and residences, and 375,000 square feet of restaurants, shops and art galleries. A 50,000-sq. ft. museum would showcase artifacts from the region.
Accommodation facilities would include campgrounds, an RV park, a variety of high-end hotels and a 375-room Wilderness lodge, which will feature a 16,000-sq. ft. state-of-the-art spa.
Pospisil said guests would use the resort as a base from which to explore the surrounding nature and national parks, Spa Opportunities reported. The complex would also feature an extensive hiking, mountain biking and equestrian trail system, as well as two natural lakes.
A ski area, horse riding center and three signature golf courses, created by Jack Nicklaus, Greg Norman and Arnold Palmer, are also part of the master plan’s recreational elements.
The development is expected to take place in five phases over ten years, Spa Opportunities reported. The Commons would be the first element developed, with opening expected by 2018.
“The U.S. Securities and Exchange Commission must approve the project before investment capital can be solicited, so this ambitious endeavor can begin,” Pospisil said.
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