LARGEST PROJECT TO DATE IN CELEBRATE VIRGINIA:
KALAHARI RESORTS TO BRING WATERPARK THRILLS AND AUTHENTIC AFRICAN RESORT/CONFERENCE EXPERIENCE TO CELEBRATE VIRGINIA
-- Kalahari Resort is expected to contribute $122.7 million to local economy --
WISCONSIN DELLS, Wisc. (November 16, 2007) – Kalahari Resorts is bringing a wave of excitement to Celebrate Virginia and the Mid-Atlantic region. The nation's leading innovator in waterpark resort development, Kalahari Resorts, today announced plans to embark on a $200 million indoor waterpark/resort/event complex in the Celebrate Virginia tourism district of Fredericksburg, VA. The largest project to date in the area, Kalahari Resort at Celebrate Virginia will be one of Virginia's most significant tourism draws and event venues.
Pending city approvals and final agreement of terms, Kalahari will purchase 49 acres adjacent to the Fredericksburg Expo & Conference Center. The third Kalahari-branded property will become part of a buildout plan to include Celebrate Virginia's first indoor waterpark at 125,000 sq. ft., 100,000 sq. ft. of conference and event space, and 700 guest rooms and suites. In addition, Kalahari Resort at Celebrate Virginia will feature a luxurious Spa Kalahari, a variety of dining, nightlife, and retail offerings. A December, 2009 opening is planned, dependent on final city approvals.
According to Kalahari President and Owner, Todd Nelson, the Fredericksburg/Metro Washington D.C. location and landmarks make Celebrate Virginia a prime location for a third Kalahari property. "Celebrate Virginia is an amazing, well-planned destination with a large variety of offerings for business and leisure visitors as well as local guests," says Nelson. "What’s exciting is that Kalahari-Fredericksburg will be unlike any recreation destination in the Mid-Atlantic."
According to a November, 2007 Economic Impact Assessment by Strategic Advisory Group, with almost 1 million guests per year Kalahari Waterpark Resort is expected to have a major, positive impact on the local economy, contributing $122.7 million to the Fredericksburg Regional area.
This impact will consist of:
Located off of I-95, on the east side of the Rappahannock River, Kalahari Resort at Celebrate Virginia will be the company's first business venture outside the Upper Midwest. Kalahari Resorts owns and operates the two largest indoor waterparks in the U.S. at similar resorts in Wisconsin Dells and Sandusky, OH. Kalahari's authentically African-themed properties in WI and OH draw more than two million visitors to their respective markets annually. To finalize details of the transaction, Kalahari is working with Metro Washington, DC and Boca Raton, FL-based developer, Silver Companies.
"Kalahari Resort will anchor the tourism district being developed at Celebrate Virginia," said Silver Companies CEO Larry D. Silver. "We have always envisioned Celebrate Virginia as the ideal base from which families can tour the many historic and recreational attractions throughout Virginia and Washington, DC. Now we have the critical element needed to become a 'home base' for vacationers — a venue that is fun for the entire family."
Located in the City of Fredericksburg and Stafford County, Celebrate Virginia spans 2,400 acres along the Interstate-95 corridor between Washington DC and Richmond. It includes 2.4 million square feet of mixed use major retail space; a 1,200 acre corporate campus; the Cannon Ridge Golf Club, the largest contiguous golf complex on the East Coast north of Pinehurst, NC; United States National Slavery Museum, a Del Webb active adult community and a Ryland estate home community; numerous additional hotels and the Fredericksburg Expo and Conference Center.
Virginia Governor Tim Kaine welcomes the project, noting, "This announcement is positive for Fredericksburg and the entire commonwealth. Resorts of this caliber, combined with our history, heritage and cultural destinations, help make Virginia a top tourism destination and bring millions of dollars in tax revenue for our state and local economy."
In December, 2007, Kalahari will unveil the largest indoor waterpark in America – 173,000 sq. ft. – at its Sandusky, OH property.
"The City of Fredericksburg is pleased to hear that a Kalahari Resort is planning to make their East Coast debut at Celebrate Virginia," says Fredericksburg Mayor, Dr. Thomas J. Tomzak. "We view this important project as the cornerstone of efforts to attract even more tourism venues to the city as we become an East Coast destination."
About Kalahari Resorts
Kalahari Resorts in Wisconsin Dells, WI and Sandusky, OH deliver a "world-away" waterpark resort and conference experience beyond expectations. The authentically African-themed Kalahari Resorts, privately-owned by the Nelson family, are home to America’s largest indoor waterparks. All Kalahari resorts feature well-appointed guestrooms, full-service Spa Kalahari, a fully equipped fitness center, on-site restaurants, unique retail shops, and a state-of-the-art conference center. For reservation and guest information, call 1-877-KALAHARI (525-2427) or visit: www.KalahariResorts.com. To review Kalahari Resorts’ electronic press kit, visit: www.kalahariresortsgobig.com.
About Silver Companies
Silver Companies is a Metro Washington, D.C. and Boca Raton, Fl–based master developer of large commercial and residential land tracts and a diversified real estate investment firm. Since 1941, Silver Companies has built an impressive private enterprise with commercial development approaching 11 million sq. ft. and residential site development totaling more than 50,000 units. In addition, the company’s private equity division has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more information, visit www.silvercompanies.com.
KALAHARI RESORTS TO BRING WATERPARK THRILLS AND AUTHENTIC AFRICAN RESORT/CONFERENCE EXPERIENCE TO CELEBRATE VIRGINIA
-- Kalahari Resort is expected to contribute $122.7 million to local economy --
WISCONSIN DELLS, Wisc. (November 16, 2007) – Kalahari Resorts is bringing a wave of excitement to Celebrate Virginia and the Mid-Atlantic region. The nation's leading innovator in waterpark resort development, Kalahari Resorts, today announced plans to embark on a $200 million indoor waterpark/resort/event complex in the Celebrate Virginia tourism district of Fredericksburg, VA. The largest project to date in the area, Kalahari Resort at Celebrate Virginia will be one of Virginia's most significant tourism draws and event venues.
Pending city approvals and final agreement of terms, Kalahari will purchase 49 acres adjacent to the Fredericksburg Expo & Conference Center. The third Kalahari-branded property will become part of a buildout plan to include Celebrate Virginia's first indoor waterpark at 125,000 sq. ft., 100,000 sq. ft. of conference and event space, and 700 guest rooms and suites. In addition, Kalahari Resort at Celebrate Virginia will feature a luxurious Spa Kalahari, a variety of dining, nightlife, and retail offerings. A December, 2009 opening is planned, dependent on final city approvals.
According to Kalahari President and Owner, Todd Nelson, the Fredericksburg/Metro Washington D.C. location and landmarks make Celebrate Virginia a prime location for a third Kalahari property. "Celebrate Virginia is an amazing, well-planned destination with a large variety of offerings for business and leisure visitors as well as local guests," says Nelson. "What’s exciting is that Kalahari-Fredericksburg will be unlike any recreation destination in the Mid-Atlantic."
According to a November, 2007 Economic Impact Assessment by Strategic Advisory Group, with almost 1 million guests per year Kalahari Waterpark Resort is expected to have a major, positive impact on the local economy, contributing $122.7 million to the Fredericksburg Regional area.
This impact will consist of:
- Local spending by hotel guests inside the resort: $63 million annually
- Local spending by hotel guests outside the resort: $8.8 million annually
- Induced spending: $51 million annually
- The resort is expected to support 1,907 jobs
- It is anticipated that the resort will generate $5.9 million in new taxes to the City of Fredericksburg annually. Over 30 years, the taxes are expected to reach $336 million.
Located off of I-95, on the east side of the Rappahannock River, Kalahari Resort at Celebrate Virginia will be the company's first business venture outside the Upper Midwest. Kalahari Resorts owns and operates the two largest indoor waterparks in the U.S. at similar resorts in Wisconsin Dells and Sandusky, OH. Kalahari's authentically African-themed properties in WI and OH draw more than two million visitors to their respective markets annually. To finalize details of the transaction, Kalahari is working with Metro Washington, DC and Boca Raton, FL-based developer, Silver Companies.
"Kalahari Resort will anchor the tourism district being developed at Celebrate Virginia," said Silver Companies CEO Larry D. Silver. "We have always envisioned Celebrate Virginia as the ideal base from which families can tour the many historic and recreational attractions throughout Virginia and Washington, DC. Now we have the critical element needed to become a 'home base' for vacationers — a venue that is fun for the entire family."
Located in the City of Fredericksburg and Stafford County, Celebrate Virginia spans 2,400 acres along the Interstate-95 corridor between Washington DC and Richmond. It includes 2.4 million square feet of mixed use major retail space; a 1,200 acre corporate campus; the Cannon Ridge Golf Club, the largest contiguous golf complex on the East Coast north of Pinehurst, NC; United States National Slavery Museum, a Del Webb active adult community and a Ryland estate home community; numerous additional hotels and the Fredericksburg Expo and Conference Center.
Virginia Governor Tim Kaine welcomes the project, noting, "This announcement is positive for Fredericksburg and the entire commonwealth. Resorts of this caliber, combined with our history, heritage and cultural destinations, help make Virginia a top tourism destination and bring millions of dollars in tax revenue for our state and local economy."
In December, 2007, Kalahari will unveil the largest indoor waterpark in America – 173,000 sq. ft. – at its Sandusky, OH property.
"The City of Fredericksburg is pleased to hear that a Kalahari Resort is planning to make their East Coast debut at Celebrate Virginia," says Fredericksburg Mayor, Dr. Thomas J. Tomzak. "We view this important project as the cornerstone of efforts to attract even more tourism venues to the city as we become an East Coast destination."
About Kalahari Resorts
Kalahari Resorts in Wisconsin Dells, WI and Sandusky, OH deliver a "world-away" waterpark resort and conference experience beyond expectations. The authentically African-themed Kalahari Resorts, privately-owned by the Nelson family, are home to America’s largest indoor waterparks. All Kalahari resorts feature well-appointed guestrooms, full-service Spa Kalahari, a fully equipped fitness center, on-site restaurants, unique retail shops, and a state-of-the-art conference center. For reservation and guest information, call 1-877-KALAHARI (525-2427) or visit: www.KalahariResorts.com. To review Kalahari Resorts’ electronic press kit, visit: www.kalahariresortsgobig.com.
About Silver Companies
Silver Companies is a Metro Washington, D.C. and Boca Raton, Fl–based master developer of large commercial and residential land tracts and a diversified real estate investment firm. Since 1941, Silver Companies has built an impressive private enterprise with commercial development approaching 11 million sq. ft. and residential site development totaling more than 50,000 units. In addition, the company’s private equity division has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more information, visit www.silvercompanies.com.
