Bellefield Development Partners Break Ground on Bellefield at Historic Hyde Park

Phase 1 construction process is underway!  Site infrastructure and first hotel will be part of groundbreaking ceremony, which will total a $60 million investment.                                                                                       

HYDE PARK, N.Y. (September 21, 2018) – Bellefield Development Partners, an affiliate of T-Rex Capital Group, LLC, along with representatives from the Town of Hyde Park, Dutchess County and New York State, today broke ground on the Inn at Bellefield and Phase 1 of the construction of Bellefield at Historic Hyde Park.

Bellefield at Historic Hyde Park will be a $500 million world-class hospitality, culinary and sustainable agrihood destination. With two hotels, culinary shops, farm-to-table restaurants, a special event barn and educational center, Bellefield at Historic Hyde Park will complement existing Dutchess County tourism destinations while providing much-needed quality housing. The development will be located at the gateway to Historic Hyde Park, on Route 9 in Hyde Park, directly across from The Culinary Institute of America.

Developed in partnership with Shaner Hotel Group – one of the hospitality industry’s leading owner-operators of full- and select-service hotels – and in collaboration with Marriott International, The Inn at Bellefield will be a 133-room soft-branded Residence Inn. It is the first of two planned upscale all-suites boutique lifestyle hotels on the property.

In addition to the hotel, Phase 1 of the construction of Bellefield at Historic Hyde Park includes construction of the property’s infrastructure – roads, sewer, water treatment and electric – to establish development of future phases. The combined investment of the hotel and property infrastructure for Phase 1 will total $60 million.

“Without the incredible coordination and effort from the Town of Hyde Park, Dutchess County, Dutchess Tourism and the state of New York, this project would not have been possible,” Tom Mulroy, Chief Executive Officer, T-Rex Capital Group LLC, said. “I would also like to thank our team that has worked on this project for many years. We could never have done it without you too. Bellefield at Historic Hyde Park will bring jobs, investments and tourists to Hyde Park.”

Bellefield at Historic Hyde Park is uniquely positioned to embrace the Hudson Valley’s food and beverage traditions by providing a one-of-a-kind, completely immersive and eco-friendly environment to appeal to one’s senses like no other place before it. Bellefield is destined to become a weekend getaway destination and a must-see for domestic and international travelers alike.

It will also become a prominent residential address for those with an appetite for a simpler, more connected life. Just a 90-minute drive from Manhattan, Bellefield at Historic Hyde Park will be a 340-acre community designed with a working farm as its heart and soul – with 58 percent of the site’s acres remaining wooded and undeveloped and 48 acres devoted to agriculture.

“This is a one-of-a-kind development in a strategic location that will exponentially develop the food and beverage culture in the Hudson Valley while creating a natural partnership of businesses, retailers, farmers and homeowners,” Mulroy said. “And this will be done with sensitivity to the surrounding community and care given to the beauty of the landscape here in Hyde Park.”

The hotel will help meet the demand for high quality lodging in Dutchess County.

“I would like to take a moment to thank Tom Mulroy, Bellefield Development Partners and T-Rex Capital Group for allowing Shaner Hotel Group the honor to be a partner in this outstanding development project,” said Lance Shaner, Chairman and CEO of Shaner Hotel Group. “They have done an outstanding job assembling the pieces to create what will be a very successful development and address the need for lodging in this part of Dutchess County.”

Dutchess County is home to many world-class tourism destinations, including the FDR Presidential Library and Museum, The Walkway Over the Hudson, The Vanderbilt Mansion, Marist College, and The Culinary Institute of America. There are nearly 5 million visitors to Dutchess County each year.

The development is projected to create more than 550 construction jobs and 369 full-time, permanent on-site jobs.

Equally positive is the projected generation of tax dollars. Over the next 10 years, Phase 1 of the development is projected to generate more than $118 million in state, county and town tax revenue.

The 10-year combined operation and visitor spending economic impact from Phase 1 will exceed $634 million.