Will Golden Resort at Great Pond Finally be Built?

there was a bill passed about a month or so ago that said hotels in christiansted with more than 75 rooms can have slot machines on their premises. maybe this has something to do with what you are referencing?

if so, that would open up a whole lot of new jobs.

there was a bill passed about a month or so ago that said hotels in christiansted with more than 75 rooms can have slot machines on their premises. maybe this has something to do with what you are referencing?

if so, that would open up a whole lot of new jobs.

No, it was the bill that gave the gov't the ability to guarantee financing for hotel developments. Golden could never get a legit financing arrangement, so now the gov't can give a guarantee, and we can get stuck with the an obligation if/when he goes under. Max of 20Million, and he was/is as sleazy as they come

http://stcroixsource.com/content/news/local-news/2005/01/12/golden-resorts-gets-permission-build-great-pond

You mean the above Golden Resort that was permitted in 2005?
If these people had the money, don't you think they would have built it already?
I agree with rmb. Just another disaster waiting to happen with that bill allowing vi government to subsidize $20M for something that is not financially feasible for mainstream financing. That bill was a bad idea. Who sponsored and voted for it anyway?
Can't recall but they should be voted OUT!

Look at GERS who got stuck with Camabola (?) when owners defaulted on their loan.
There are plenty of entities that have proven track records and money.
This pie in the sky isn't one of them.

Here's another link from 2010.
http://virginislandsdailynews.com/news/many-hurdles-ahead-for-golden-resorts-before-casino-hotel-is-built-at-great-pond-1.782476

Please note the sentence:

Golden announced in 2008 that Wyndham Hotels and Resorts would be the flagship hotel management company. He also had plans for a $32 million conference center — to be funded by V.I. government.

I believe Chucky sponsored the bill but cannot remember for sure.

At least her stupid little square ads in the Avis make it sound like she did. I've seen that ad twice recently, and in it she claims that her bill will usher in new developments on STX.

My memory did serve me correctly!

Chucky sponsored the bill:

Hotel Lease Bill Source story

Our government cannot provide us with basic services such as clean streets and roadsides, affordable electricity, etc., but is willing to finance $20 million for a mega resort that's been trying to get built since 1999 plus an additional $32 million for a conference center?

Something is very wrong with this picture, imo.

When they get thru wasting our money, continuing to pollute and degrade our environmental resources until there are none left and have tourists refer to us as the trash bin of the Caribbean, maybe they'll be satisfied.

We are pretty darned close to our being the trash bin of the Caribbean now. You do not see that on other island destinations.

It figures it would be chucky. All those fingers of hers in so many pies (pockets) need to be chopped off.

February 28, 2008

Wyndham to Develop Hotel-Casino in St. Croix, Part of $250M Complex

Wyndham Hotels and Resorts is expanding its brand in the Caribbean with its first project to be built in St. Croix, U.S. Virgin Islands. The luxury 400-room Wyndham St. Croix Golf Resort and Casino will be part of a $250 million conference center complex.Construction is expected to begin this spring on the 294-acre property on the island’s south shore and be completed in 2010. It is being developed by Golden Resorts L.L.L.P. of New Jersey in joint ownership with Jericho All-Weather Opportunity Fund of Boca Raton, Fla. The resort will be managed by Wyndham Hotel Management Co.Located near downtown Christiansted and 15 minutes from the Henry E. Rohlsen International Airport, the resort will have a 25,000-square-foot casino; 17,000-square-foot spa and fitness center and 18-hole Jack Nicklaus signature golf course. It will be the 25th resort in Wynhdam’s Caribbean and Mexican portfolio, according to Peter Strebel, Wyndham Hotels and Resorts president.Paul Golden, Golden Resorts CEO, noted in a release that the development and operation of the resort will be “creating more than 1,000 construction jobs and 1,200 permanent jobs.”The U.S.Virgin Island Public Finance Authority recently awarded Golden Resorts $32.5 million for the construction, operation and management of the St. Croix Conference Center, a 43,000-square-foot center that will be part of the resort.In late January, Wyndham Vacation Ownership, a sister company, said it had acquired the Grand Beach Palace resort in nearby St. Thomas, U.S.V.I., for an undisclosed amount. The beachfront property is expected to receive $40 million in renovations to convert it to 143 timeshare units.Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corp. based in Parsippany, N.J., offers upscale hotels and resorts in the United States, Canada, Mexico and Caribbean. Late last year, Wyndham announced it was expanding into Panama with the conversion of the five-star Veneto Hotel & Casino in Panama City into The Veneto, a Wyndham Grand Hotel. Strebel told CPN in a Dec. 7, 2007, report that the move into Panama was part of the brand’s strategy to expand outside its North American base into key international and gateway cities. The Wyndham Hotel Group has more than 6,500 franchised hotels and about 550,000 hotel rooms around the world.

That was an article from 6 and a 1/2 yrs. ago,
Wyndham doesn't mess around when they start a project as they are going full bore ahead with the Margaritaville project at the old Renaissance Grand here in STT.

You're getting your hopes up on a hint on a facebook page.
I'm sure there have been many more hints since 1999.
By now those CZM permits should be revisited before they are allowed to do anything.

When they announce a ground breaking with Wyndham officials on site, let me know.
Meantime, VI Gov. should not be spending $42 MILLION dollars of our money on this private project.

"The U.S.Virgin Island Public Finance Authority recently awarded Golden Resorts $32.5 million for the construction, operation and management of the St. Croix Conference Center, a 43,000-square-foot center that will be part of the resort."

What happened with the $32.5 million dollars that was awarded?
Why is our government awarding money (it doesn't have) for construction, operation and management?

"The U.S.Virgin Island Public Finance Authority recently awarded Golden Resorts $32.5 million for the construction, operation and management of the St. Croix Conference Center, a 43,000-square-foot center that will be part of the resort."

What happened with the $32.5 million dollars that was awarded?
Why is our government awarding money (it doesn't have) for construction, operation and management?

The money wouldn't have been given to them until the project got to the ground breaking stage - which never happened.

I believe that there will be movement on this project shortly.

Well, I for one, would love to have a Wyndom Resort here as I, as well as my daughter's family, have many yearly points I could spend with them for when they came it visit me here on STX! Well, I can dream! But, won't hold my breath!

There will be an announcement today after the presentation at The Palms this afternoon. More great news for St. Croix!

More great debt for the VI if our government proposes to spend $52million of our money on this private project.

Paul Golden is a convicted Felon.
He has no money, no experience developing anything, all he did was run a strip club in NJ.
He lied about being a Columbia grad.
He bought a mosquito infested swamp, with quicksand, and no beach.
He came up with a SCAM to build a resort there (which would quickly fail) with Government backing.
He ran out of money.
This is a recipe for disaster.
It will never be built due to environmental concerns.
This is an election BS session....it will be forgotten about in a few months.

All those things are true...I can't argue that. But if he pulls it off, it would be great for St. Croix. Wyndham is pretty experienced in the resort business.

All those things are true...I can't argue that. But if he pulls it off, it would be great for St. Croix. Wyndham is pretty experienced in the resort business.

Alas, it will fail due to the terrible location for a resort.
Downwind of the mosquitos & no-seeums.....no beach....quicksand...all recipes for failure. If we are stupid enough to give this scammer money, it will fail and it will curtail / scare away any new resort developers for another 40 years.

We should put our support into the William & Punch project. A fantastic location for a resort, casino, golf course, convention center, marina, beach hotel.

How long has it been since W&P applied for permits? Yeah, that long.

So how long do you think it will take for this GG project to actually break ground once the financing is in place? Granted, the GG wont involve be as extensive as project as W&P, but nonetheless, it will take years before it starts.

No reputable company would be willing to get into bed with this individual. Is it any wonder that so many of us are, at the least, skeptical of these "pie in the sky" deals that can go south and leave us holding the bag? Or have to mount such outrage that the government has to back peddle?

There are many better endeavors to spend our money on.

Apparently you are wrong.

Proof?

Is this the same Paul Golden from Prospect Partners and Schilling Ventures?

I think the location would be a great place for a hotel and casino. That's a beautiful area

I think the location would be a great place for a hotel and casino. That's a beautiful area

Uttica, you've obviously never walked the area.
I lived next door to the site for 2 years.
It is a terrible place for a resort. Humans don't like mosquitos, no-seeums, quicksand, no beach, etc.
It is a great place for migratory birds who like swamps, bugs and fish.