The master plan for the site includes creation of a new luxury hotel, to be designed by The Hillier Group. It will be built in an architectural style reminiscent of a traditional mountain lodge and will replace the old Concord hotel. 

Other major elements of the plan include construction of high-end resort housing and time-share units, and creation of extensive new year-round recreation and entertainment facilities, and a spa ranch.. 
The proposal, called The Concord Resorts at Kiamesha Lake, provides for a total reconstruction of the hotel to create a new four-star, world-class hotel and conference center, and would create a year-round resort and residential community. 

The overall plan is being designed by William B. Tabler Architects of New York City in coordination with Divney Tung Schwalbe, an engineering and environmental design firm based in White Plains, NY. The site encompasses more than 1,600 acres of land surrounding the hotel and its renowned �Monster� golf course. 

The plan for the site, which is about a mile north of the Route 17 expressway and less than a two-hour drive from Midtown Manhattan, would create up to 8,000 construction and new permanent jobs and would serve as a catalyst for the long-hoped-for resurgence of the Catskill region as a destination resort. 

The Concord Resorts at Kiamesha Lake plan was formally presented for the first time last night at the annual State of the County meeting of the Sullivan County Board of Legislators held in Monticello, the county seat. 

Louis R. Cappelli, who heads Concord Associates, LP, a joint venture of Cappelli Enterprises and Reckson Strategic Venture Partners, emphasized that the plan for the Concord property is to create a year-round resort. �It is crucially important that the plan for the property not limit its use to the warm weather months. To provide the kind of economic vitality that is needed in the region, and to justify the enormous investment that is required if we are to have true impact, the project must have year-round appeal. What we are proposing does precisely that.� 

Mr. Cappelli said another key criteria in planning for the property is to maintain its environmental integrity: �We are extremely sensitive to the beauty and value of this property. Our plan is carefully designed to fit within the environment. We are looking at providing internal transportation systems that will minimize the need for private automobile use within the site. One of the greatest assets we have is the beauty of the property itself and the Catskill Region around it. The future success of revitalizing The Concord is to integrate new uses with the natural beauty of the region.� 

The plan calls for creation of new year-round resort housing on several sites including along the golf course, in an Alpine-style community focused on a winter sports area, and in a wooded area in the southwest corner of the site. Rental housing for resort employees would also be available. 

The key components of the plan are:
 

Mr. Cappelli indicated that the Concord Partners are in active discussions with several national and international operators in the hotel, time share, entertainment, retail and golf fields for the operation of key services and facilities. 

�We are encouraged with the strong interest we have been finding in our concept,� he said. �There is a growing awareness that the Catskill Region offers incredible value and potential that has been overlooked for many years. A sophisticated plan aimed at the interests and lifestyles of today is what has been missing. Our plan provides for what will truly be a 21st century recreational community.� 
Mr. Cappelli indicated that past marketing strategies for the resort were geared to create an ambiance that was not conducive to integrating with the local environs. He stressed that the new owners of The Concord want to reverse that strategy and emphasize a variety of cross synergies with the surrounding community. �It is our intention to create an atmosphere that is conducive to welcoming Sullivan County residents onto the property and making our guests and residents aware of the many services and amenities in the surrounding community,� he said. 

Supervisor Anthony Cellini, chief elected official for the Town of Thompson, stated that the Town looked forward to beginning the master planning process with Concord Associates. �We welcome the Cappelli group to the Town of Thompson and thank them for their vision and commitment to invest hundreds of millions of dollars in our community,� he said. �The thousands of construction and new, permanent jobs that will be generated by such a large and diverse development program will bring a wide range of sorely needed employment opportunities for our residents.� 

Sullivan County Legislature Chairman Raymond N.  Pomeroy II expressed the County�s optimism regarding the new plans for The Concord. �Resolving the Concord Hotel bankruptcy and tax issue, so that the resort could reopen to visitors and provide employment, has been among the top priorities of County Lawmakers since we came to office over four years ago. A major portion of our strategy has been to locate and bring a developer who has the capacity to bring the resort back,� he said. �We believe that Louis Cappelli and Concord Associates, LP, have the ability and resources to restore the hotel to its former glory and to market it competitively and successfully. The Legislature will continue to cooperate in every way we can to ensure that this occurs.� 

Cappelli Organization 
Cappelli Development/Cappelli Enterprises Inc. was formed in 1983. The company is primarily engaged in the construction/development/management of office buildings, mixed-used developments, laboratory buildings, parking structures, shopping centers, hotels and residential communities in the Northeast. The Cappelli Organization has completed over $1 billion of projects, is under construction with over $300 million of projects, and is in the planning and approval stages for $600 million of mixed-use, residential, golf course, hotel and resort projects. 

The Cappelli Organization is a completely vertical organization with a staff of highly trained professionals who work in tandem with outside consultants to insure that very project is completed on time and on budget.  Personalized involvement, attention to detail, creativity, concern for scheduling, safety and value engineering are all essential components of a winning development and are standards that characterize the Cappelli philosophy. 

Reckson Strategic Venture Partners 
Reckson Strategic Venture Partners (RSVP), LLC is an investment group that primarily invests in commercial real estate ventures. The group has extensive experience analyzing, structuring and capitalizing commercial real estate mortgage, mezzanine and equity investments. To date, RSVP has created plans for growth, institutional controls and accounting policies and by providing sophisticated access to the capital markets. RSVP has demonstrated skill in structuring, negotiating and closing large transactions since the fund�s inception in March 1998. 

RSVP is funded by Reckson Services Industries, Inc., Paine Webber Real Estate Securities, Inc. (PWRES) and a fund jointly sponsored by PWRES and G. Soros Realty Inc.  To date, Reckson Strategic Venture partners, LCC has committed over $250 million of equity into its various investment ventures.