LAKE COUNTY, CA-A San Francisco developer plans to purchase andrenovate a premier resort property in the Kelseyvillearea about 70 miles north of Santa Rosa,and that plan is now closer to reality.

In September, Resort Equities submitted aproposal to local officials to redevelop and reopen the 68-acreKonocti Harbor Resort and Spa, which closed inNovember 2009. Resort Equities president Grant Sedgwickrecently told the Lake County News that the firm hassigned a purchase agreement and that the sale could close by themiddle of December. He also noted the county officials are workingcooperatively with the firm so that the proposal can be presentedto the county planning commission in early December.

The developer has said it expects to spend $50 millionto $70 million to renovate the deteriorated property. Someof the older buildings would be demolished and replaced and75 new hotel rooms would be constructed. Thenumber of units would increase from the current 261 to 321. Therealso would be an increase in boat slips from 100 to 275, as well asadditional parking.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.