SLO County Golf, Wine & Real EstateGolf, Wine & Real Estate News and Events Blog
River Oaks developer buys adjacent Paso Robles Hot SpringsThursday, December 29, 2005River Oaks developer Dick Willhoit bought the Paso Robles Hot Springs and Spa from the Kiessig Family Trust for an undisclosed amount last week."We're looking at the viability of health, wellness and hospitality opportunities, but it's business as usual for now,' said Willhoit, who closed on the property Friday. The Kiessig family had approved plans to develop the 246-acre property into a major resort and spa with more than 200 hotel rooms, each with its own natural mineral water spa, an amphitheater, stables, polo fields and tennis courts. Willhoit said it's too soon to say what upgrades he will do. He's currently developing River Oaks, a 164-acre master planned community adjacent to the Paso Robles Hot Springs. By the time River Oaks is completed in 2007, it will have 476 homes, a shopping center, parks and golf course. "We're looking at synergy here--and we can see that the lifestyle of the Hot Springs is compatible with the lifestyle of River Oaks,' Willhoit said. "We also want to be part of the tourism opportunity, but we have to be careful that we haven't saturated the market.' "You can say my approach right now to the property is conservative,' Willhoit said. "But I'm optimistic of its potential.' Willhoit has been developing River Oaks since 1989. He is also president of the Paso Robles Chamber of Commerce board of directors. Developer buys Paso Hot Springs The Tribune, Melanie Cleveland |
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