Title Issue Causes Homestead Resort Transaction To Stall
Midway City has been abuzz for the past nine months after a local company showed interest in buying and re-energizing the Homestead Resort. The sale of the property has stalled as of late. Now the potential buyer of the resort says that if the issue is not resolved soon it could mean the resort won’t sell.
Russ Watts President of Watts Enterprise came to the June 18 city council work meeting to give a report on the progress of their plans to purchase and revitalize the Homestead Resort. The project has been in motion for about nine months. Watts reported to the council at the meeting that he felt that water, funding and lending issues were all resolved but the hold up on the project is a title issue.
“It’s an issue that really is stopping us from closing on the Homestead,” Watts explained. “There's a party that owns a parcel of property in the middle of the Homestead area. That really controls where roads kind of run and some of the unit layouts.”
Watts told the council they’ve invested hundreds of thousands of dollars to help facilitate the sale of the resort. Now they’re waiting and hoping that the issue can be resolved.
“You’re asking me flat out can this be resolved? Mmm I don’t know.” Watts said.
“Really?” Mayor Celeste Johnson asked.
“I don’t know, yeah.” Watts replied.
KPCW has reached out to Watts Enterprises but has not heard back. Midway City Planner Michael Hinke said that if the title issue can be resolved they are close to finalizing the amended Master Plan.
“I think we're close,” Hinke continued “There's a couple of issues we still need to work out, but I think we're the majority of the way there. So, if they can get this one issue worked out, I think we can move forward. Obviously, the City Council has to have the final say on that, but that's where we've been working. Trying to make sure those issues are taken care of. There's still a couple of loose ends to tie up.”
Watt’s Enterprises proposed four phase revitalization project includes replacing nearly every structure at the Homestead Resort.
Proposed amendments to the Homestead Resort Master Plan include more units, an additional mile of public trails, approximately 10 acres of additional open space and 135 more parking spaces.