The condo cottages are gone in plans for a multi-billion dollar resort at the site of a ranch once owned by Elvis Presley.
The Horn Lake Board of Alderman on Monday approved a plan for 16 towers of 35 stories each to go along with a performing arts centre, shops, restaurants and two golf courses. The plan calls for two of the towers to be used as hotels.
Assuming financing is secured, the Stars Resort would bring in 2,000 visitors daily in the first two years and 5,000 or more daily after five years, said J.D. Stacy, the spokesman for the development in the works since 2002.
In 2004, Stacy got zoning approval for a development that covered 803 acres. That fell through when he could not close on the land.
On Monday, Stacy said developers have not closed on any of the land this time, either. He said closing without the approval of the plan would have been premature. He said closings should begin this week.
The old Circle G Ranch was the former weekend retreat of Presley. He and ex-wife Priscilla honeymooned there in 1967.
The developers plan to have the resort completed in 2014. The cost is expected to be $2 billion.
Source: Associated Press http://www.ap.org/