With Phase I construction underway, plans for a high-end, full-service boutique style hotel, conference center and construction of the retail and residential Village Green highlight next steps toward completion of a $500 million hospitality, culinary and sustainable agrihood destination
HYDE PARK, N.Y. (May 6, 2019) – Bellefield Development Partners, an affiliate of T-Rex Capital Group, LLC, has announced that the planning stages have commenced for the second hotel and conference center to open on the grounds of Bellefield at Historic Hyde Park directly across from The Culinary Institute of America. Bellefield Development Partners has partnered with the Shaner Hotel Group – a leading global owner-operator of full- and select-service hotels – and Bob McCarthy (former COO, Marriott International) on the first hotel, and continues that partnership for the second boutique lifestyle hotel on the property.
Phase I construction began in July 2018 activating the entire property’s infrastructure and building the first hotel, The Inn at Bellefield – a 133-room lifestyle Residence Inn – at an initial combined investment of $60 million.
“We are very pleased with how well construction at Bellefield at Historic Hyde Park has been progressing and to share the news of this exciting next step,” said Tom Mulroy, Chief Executive Officer, T-Rex Capital Group LLC. “With the first hotel under construction, we’ve officially initiated the planning of Phase II – our Village Green, comprising mixed-use retail and residential, and high-end quality lodging option. Both are part of a total 2 million square feet of mixed-use development that visitors to our region will love and which will bring even more jobs, investment and interest to Hyde Park.”
The second hotel is envisioned as a high-end, 150-room property that will deliver a boutique-quality experience. It will include a spa, conference center, indoor/outdoor pool and multi-discipline sports facility. Exclusive access memberships to these amenities will be made available to the 558 residences of Bellefield at Historic Hyde Park to be constructed in the near future. In keeping with the culinary theme of the property, the new hotel will include signature restaurants by celebrity chefs. While the final details remain under consideration, Bellefield Development Partners is currently considering other top-tier global brands.
Phase II activity also includes the development of Bellefield’s Village Green, a lively, urbane-but-rustic public space encircled by tree canopies and wetland streams that will include mixed-use retail and residential space. Accessible by footbridge from other amenities, the Green will feature a concentration of dining, shopping, art galleries and artist studio lofts. A New York State Wine Center and a New York State Craft Brewers’ Beer Garden, as well as a coffee and teahouse will also be prominent features.
“The progress at the Bellefield property has the Town of Hyde Park very excited for the great things to come from what is sure to be a singularly spectacular destination,” said Town of Hyde Park Supervisor Aileen Rohr. “The promise of elegant lodging, along with carefully curated dining, retail and walkable green spaces will be an incredible enhancement to our tourism industry. We look forward to working closely with Bellefield to bring to life the next phase of this transformational project.”
The new hotel will stand immediately adjacent to the Residence Inn on the Bellefield property. It will rise five stories above the 200 feet of natural elevation looking down upon the Culinary Institute of America to provide guests with extraordinary views of the Hudson River and Hudson Valley to the north and south. Both hotels will help meet the demand for high quality lodging in Dutchess County.
“It’s wonderful to see Bellefield at Historic Hyde Park well on its way to becoming what will no doubt be one of the most visited and talked-about destinations in our seven-county region,” said Mike Oates, President and CEO, Hudson Valley Economic Development Corp. “Its impact on tourism alone will be felt well beyond Dutchess. Bellefield will be a vital part of the Hudson Valley’s food and beverage industry landscape, a desired address and popular weekend destination.”
Altogether, Bellefield at Historic Hyde Park will be a $500 million world-class hospitality, culinary and sustainable agrihood destination. The two hotels are part of a mix that includes culinary shops, farm-to-table restaurants, a special event barn and educational center. It embraces the Hudson Valley’s long-standing food and beverage traditions and its burgeoning foodie scene. Its one-of-a-kind, completely immersive and eco-friendly environment is destined to become a getaway destination and must-see attraction for domestic and international travelers alike. It will also be a prominent residential address for those with an appetite for a simpler, more connected life, with 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.
About Bellefield at Historic Hyde Park:
Bellefield at Historic Hyde Park is a $500 million dollar tourism destination under development on Route 9, across from the Culinary Institute of America (CIA). Initial plans call for development of two hotels, a conference center, a freestanding signature restaurant, a spa and culinary-based retail establishments. 58 percent of the site’s 339 acres will remain wooded and undeveloped with another 48 acres devoted to agricultural use to preserve the natural beauty of the site. Governor Cuomo’s Mid-Hudson Regional Council has selected Bellefield at Historic Hyde Park as a “Priority Project”. For real estate inquiries: jmosquea@trexcapitalgroup.com
For more information about Bellefield at Hyde Park and T-Rex Capital Group LLC, visit www.bellefieldhydepark.com.
About T-Rex Capital Group LLC:
T-Rex Capital Group LLC is an experienced privately held real estate firm. T-Rex has sourced and invested in proprietary transactions encompassing more than 11 million square feet with a gross asset value of over $2.5 billion. Its key executives average more than 25 years of experience with more than $7 billion of investing and development experience. For more information, visit www.TrexCapitalGroup.com
About Shaner Hotel Group:
Shaner Hotel Group is one of the foremost owner-operator companies in the hospitality industry with more than 50 hotel properties owned and managed across the U.S., Italy, Greece and the Bahamas. New properties are constantly evaluated as the Shaner Hotel Group continues a conservative, yet opportunistic approach to growth. Shaner is an approved management company and franchisee of Marriott International, Inc., Hilton Hotels Corporation, Intercontinental Hotels Group, and Choice Hotels. For more information about the company and its divisions visit www.shanercorp.com.
