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New Hotel Being Built On Former KI Resort Site

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28 minutes ago, chugh43 said:

 


It still is....this new property is behind Buffalo Winds and Rings. Most of the KI Resort Site is still left open and in despair. 

Yea, the parcel with the ongoing construcion was never part of the Kings Island Resort.  All the work on the Kings Island Resort property seems to have stalled.

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It appears that the former Kings Island Resort Property transfer was sold recorded from OHMI Investors LLC to Warren County Holdings for $6.3M last month.

image.png

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Me too.  After making my post showing the transfer I checked sales history and the transfer to OHMI was recorded in 2009, so Warren County Holdings could be the purchaser from a few years ago.  Either there was an unrecorded sale or it just took them a few years to file the transfer.

EDIT: I checked the old articles from December 2014 about the apartment complex plans.  It was a partnership with Hotel Development Services (identified as owner, and in context seems to be substantially in the same as OHMI) and Towne Properties.  As such, it seems a transfer of the property was not required.  The Warren Count Recorder Memos show states $6.3M was an arms length transaction, so it does seem there was a recent sale.

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2 hours ago, Pez said:

Me too.  After making my post showing the transfer I checked sales history and the transfer to OHMI was recorded in 2009, so Warren County Holdings could be the purchaser from a few years ago.  Either there was an unrecorded sale or it just took them a few years to file the transfer.

OHMI also gave up land in 15 to KI Drive expansion, so it is current.

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It seems the old apartment building plans have been abandoned.  It is a mystery what plans Warren County Holdings have for the property.  The word "Holdings" in the business name indicates to me that the property was purchased for speculative investment instead of development.  We may have to resign ourselves to looking at weeds and rubble over there for a while.

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6 hours ago, Pez said:

It seems the old apartment building plans have been abandoned.  It is a mystery what plans Warren County Holdings have for the property.  The word "Holdings" in the business name indicates to me that the property was purchased for speculative investment instead of development.  We may have to resign ourselves to looking at weeds and rubble over there for a while.

Possibly. Or they could have started to negotiate leases.

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Last weekend, I could see they were working over there, but the new building went very vertical within the past week. This is a quick snap I took before turning onto KI Drive off of Great Wolf Drive. You can see how far to the right the building is, it's really not part of the former resort area. It will be nice to have more lodging in the area tho. 

IMG_8518.JPG

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2 minutes ago, Hawaiian Coasters 325 said:

Maybe they're building it because of the giga coaster!

Nah. They're building it because their is a need for multi-night stays. 

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1 minute ago, Hawaiian Coasters 325 said:

If I were to be a fanboy of something, it would be Cedar Point

Right.......every post you make here and on social media park pages is related to a giga. That's fanboyish. 

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