Posted: Friday, February 9, 2018 – 12:50 PM
“Build it and they will come,” the mantra of the real estate developer, can be heard throughout the Coachella Valley. From Palm Springs in the west to Indio in the east, real estate developments that were lying fallow the past decade are showing new life renovated by renewed enthusiasm and … money.
The Agua Caliente Band of Cahuilla Indians is in the planning stage for expanding its existing high-rise hotel, resort and casino in Rancho Mirage by adding hundreds of new rooms and greatly increasing the gaming space.
The expansion of the band’s facility is spurring plans to add increased activities to two of its other projects. The first major announcement was made by the tribe last fall, and provides for expansion of gaming space 68,000 square-feet of additional floor space.
A new casino to be built just north of the existing venue will also contain a newly constructed Tribal Cultural Museum and spa. But, not all the growth is on tribal land. The tribe has announced a large-scale investment in Cathedral City–the first time a gaming facility will be off the existing reservation made possible pursuant an agreement made with the city about 18 months ago.
The city of Indian Wells has given the go-ahead (and $5.5 million) for the TMC Group to begin developing 130-million hotel/condominium project on land adjacent to the highly successful Indian Wells Tennis Gardens.
The project will combine a five story, 139-room boutique hotel, 56 condominiums and 31 vacation villas. The five-story hotel will have a rooftop pool, bar and restaurant, but be hard pressed to make a return on its investment when across the street the popular Renaissance Esmeralda hotel and spa averages about 85,000 unsold room nights a year, and that does not include the vacancy figures from the nearby Hyatt Hotel.
Each year, the Barbara Sinatra Children’s Center produces its much-heralded “Champion Honors” luncheon on March 9 at which a world-class sports figure is interview. This year’s luncheon features Simone Biles, America’s most decorated female artistic gymnast, who will be interviewed by iconic interviewer, Beverly Hills’ own Larry King.
Tickets sell out quickly for this event. Call: 760-773-1636.