Mark Wood from MLW Properties reported in his latest newsletter that Replay Resorts, a Canadian developer started by the people behind Intrawest and Whitler/Blackcomb Resort, will soon officially announce their plans to build and operate a resort on the property. Replay has worked as an adviser to Credit Suisse since the Ginn default occurred in 2009.
Replay and Credit Suisse would control about 75% of the developable land; Lubert Adler holds the remaining parcels including Old Bahama Bay, the core, and the north shore.
One obstacle that remains is that the foreclosure of the land has still not occurred.
Hopefully we will hear more from Replay before the summer!