Redquartz Developments, an Ireland Corporation operating from Atlanta, has agreed to purchase 51 percent of the newly issued total ownership equity units in the Amelia Island Plantation. This Green Lodging resort accounts for 1,350 acres of Amelia Island, Florida.
The Cooper family has owned the company since 1978 and will retain the remaining 49 percent of the total ownership, according to information released by Amelia Island Company. Jack Healan, the President of the Amelia Island resort will retain his position and said, “We have been looking for an equity partner to help us re-establish a resort business plan to take us forward. Redquartz Atlanta is the exact partner for which we were searching, particularly as it relates to their ability and willingness to work with us financially on our plans at Amelia Island Plantation.”
The capital infusion to the Amelia Island Company could be as much as $60 million over the next 12 to 18 months which will be used by the company to fund capital projects. Amelia Island Plantation offers three and a half miles of beach, four golf courses, 23 tennis courts, a luxury spa, shopping center, restaurants, a full time Nature Center. There is 49,000 square feet of meeting space and wireless access in its all oceanfront Inn, villas and conference center.
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That’s an uplifting story in these dark economic times, especially since rumors were already painting AIP on the chopping block. Now maybe if we can get some occupancy numbers and a tourism marketing plan revealed, we could make a concentrated effort in finding out what is meant by “funding capital projects”. Hopefully we’re not talking about more sales units, considering the inventory we’re building up island wide in this recession.
That’s an uplifting story in these dark economic times, especially since rumors were already painting AIP on the chopping block. Now maybe if we can get some occupancy numbers and a tourism marketing plan revealed, we could make a concentrated effort in finding out what is meant by “funding capital projects”. Hopefully we’re not talking about more sales units, considering the inventory we’re building up island wide in this recession.
Here is their idea of “funding capital projects” – These projects may include the Links Lodge, Conference Center expansion, expansion of the Amelia Inn, and a hotel at Amelia River Golf Club. Jack Healan, president of the Amelia Island Company, said the Links Lodge project would probably be the first one undertaken, but it wasn’t clear when construction will begin.
Here is their idea of “funding capital projects” – These projects may include the Links Lodge, Conference Center expansion, expansion of the Amelia Inn, and a hotel at Amelia River Golf Club. Jack Healan, president of the Amelia Island Company, said the Links Lodge project would probably be the first one undertaken, but it wasn‚Äôt clear when construction will begin.