Riverdave resort? 88 acres on the water on the island

[RVR_RCN]

That’s easy…….

Take a premium lot, already for sale in LHC. Then divide the price by square feet. Take that square foot price, and times it by the number of square feet in 88 acres. That will give a rough estimate of its value.

≈1m per acre.

 

[Mandelon]

Will this be owned fee simple, or just another long term lease?

 

[Singleton]

Will this be owned fee simple, or just another long term lease?

State is selling the land.
Will not be a land lease

 

[Orange Juice]

Was the lease not paying the state enough? Why sell? It’s a revenue generator.

 

[Singleton]

Was the lease not paying the state enough? Why sell? It’s a revenue generator.

That lease (old island / nautical golf course) expired during Covid and was not renewed.

 

[MK1MOD0]

By selling and letting a developer build out, the state will make a fortune on taxes alone. Property tax, sales tax, resort fees ect. Will be a gold mine for local and state funds.

 

[C-Ya]

How would you guys feel if a developer turned that property into something you did not like?

An example would be a resort that charges $20 per beer and rents rooms starting at $800 per night or more. $200 to dock boat. Resort fees. Parking fees. Basically a place that tries to suck every last nickel out of your pocket?

Thats a common complaint here. Buyer, buys resort. Then jacks up prices to a level in which you never set foot on the property again. That happened right down the street from me.

 

[Singleton]

How would you guys feel if a developer turned that property into something you did not like?

An example would be a resort that charges $20 per beer and rents rooms starting at $800 per night or more. $200 to dock boat. Resort fees. Parking fees. Basically a place that tries to suck every last nickel out of your pocket?

Thats a common complaint here. Buyer, buys resort. Then jacks up prices to a level in which you never set foot on the property again. That happened right down the street from me.

Between The Nautical and LBR, we have those already in Havasu.
Except they both are run like crap.

 

[hallett21]

How would you guys feel if a developer turned that property into something you did not like?

An example would be a resort that charges $20 per beer and rents rooms starting at $800 per night or more. $200 to dock boat. Resort fees. Parking fees. Basically a place that tries to suck every last nickel out of your pocket?

Thats a common complaint here. Buyer, buys resort. Then jacks up prices to a level in which you never set foot on the property again. That happened right down the street from me.

Run correctly I’d welcome it with open arms lol.

 

[havasujeeper]

Geez, wasn't there talk of a second bridge to the island recently? Seems you have the "why" answer.

 

[Taboma]

Was the lease not paying the state enough? Why sell? It’s a revenue generator.

There's no existing utilities, hence no huge attraction for a concession lease. Plus, wonder if there's additional Island infrastructure considerations ? As far as I know, those existing utilities are all served via a utility tunnel inside the London Bridge.

 

[C_J_J_C]

I know everyone wants houses but I just don't see it. My bet is a large resort hotel or condos. There really isn't that much water front so whomever pays 80 million plus will need to get a sizable return.

 

[Havasu blue label]

How would you guys feel if a developer turned that property into something you did not like?

An example would be a resort that charges $20 per beer and rents rooms starting at $800 per night or more. $200 to dock boat. Resort fees. Parking fees. Basically a place that tries to suck every last nickel out of your pocket?

Thats a common complaint here. Buyer, buys resort. Then jacks up prices to a level in which you never set foot on the property again. That happened right down the street from me.

I think that would be great

 

[DarkHorseRacing]

I still think RD should buy it. RDLand has a nice ring to it.

It could include a pontoon boat ride, drinking games (sponsored by Coors Light and White Claw) and a giant mascot Gator to greet all the park visitors. Other cast members walk around in pasties in the summer.

In the winter it shifts to an off-road themed park. Have some off road corses visitors can try in a Rzr or CanAm or a Jeep.

(Whispering) If you build it, RD, they will come.

 

[hallett21]

@C-Ya

if they actually built a legit resort (competently operated, appreciated customer money, had a good restaurant and bar and provided luxury amenities) Nautical and London Bridge Resort would be in serious trouble. Maybe then they would get a hint?

 

[LargeOrangeFont]

@C-Ya

if they actually built a legit resort (competently operated, appreciated customer money, had a good restaurant and bar and provided luxury amenities) Nautical and London Bridge Resort would be in serious trouble. Maybe then they would get a hint?

But there is no workforce labor to work at such a place, nor can they afford to live there.

The easy button seems to be expanding the Islander... and doing something else with the back 40.

 

[C-Ya]

@C-Ya

if they actually built a legit resort (competently operated, appreciated customer money, had a good restaurant and bar and provided luxury amenities) Nautical and London Bridge Resort would be in serious trouble. Maybe then they would get a hint?

I actually think that is a legitimate possibility. Reason being. That place, as a member mentioned earlier, will need to generate serious revenue, in order to make a profit. I am guessing an upscale resort would fit that bill.

Personally…….. I like my high rise condo idea. But let’s be real. That will never happen. I can only imagine what chaos would ensue when the City Council even entertained the idea. The NIMBY’s would come out of the woodwork. However, if I were the owner of the penthouse…….. I know I would enjoy the panoramic view! It would be a bonus if I could look down at my boat too! Lol

 

[Ace in the Hole]

How would you guys feel if a developer turned that property into something you did not like?

An example would be a resort that charges $20 per beer and rents rooms starting at $800 per night or more. $200 to dock boat. Resort fees. Parking fees. Basically a place that tries to suck every last nickel out of your pocket?

Thats a common complaint here. Buyer, buys resort. Then jacks up prices to a level in which you never set foot on the property again. That happened right down the street from me.

in the paraphrased words of a certain inmate... "They can go be poor somewhere else"

Its probably going to be another trailer park...id bet money on it.

 

[riverroyal]

in the paraphrased words of a certain inmate... "They can go be poor somewhere else"

Its probably going to be another trailer park...id bet money on it.

'trailer resort'

 

[LargeOrangeFont]

in the paraphrased words of a certain inmate... "They can go be poor somewhere else"

Its probably going to be another trailer park...id bet money on it.

Yep. That was all supposed to be done in the Riviera by now… and that is going to take until the end of this decade.

I could see a nice waterfront restaurant, with paid beach parking, coming online though. That would be cool.

 

[RIVERBORN]

Don’t know for sure, but I believe this has been in the works…. I know a guy that has mentioned a few times over the year or so he and his dad were trying to buy some land on the island to build homes. We had asked where? As in there is no where to buy. But they seemed to know.

 

[hallett21]

I actually think that is a legitimate possibility. Reason being. That place, as a member mentioned earlier, will need to generate serious revenue, in order to make a profit. I am guessing an upscale resort would fit that bill.

Personally…….. I like my high rise condo idea. But let’s be real. That will never happen. I can only imagine what chaos would ensue when the City Council even entertained the idea. The NIMBY’s would come out of the woodwork. However, if I were the owner of the penthouse…….. I know I would enjoy the panoramic view! It would be a bonus if I could look down at my boat too! Lol

in the paraphrased words of a certain inmate... "They can go be poor somewhere else"

Its probably going to be another trailer park...id bet money on it.

And there’s the issue. Anytime someone with serious money comes in on these “resorts” they have grandiose plans.

Within 6 months it’s followed by “hey let’s just lease some mobiles and get our money back.”

I really hope Rivera is what forces some quality near the water. But we’ll see

 

[JB in so cal]

The amount of rodents and snakes that will emerge from construction will be a news story in itself!

 

[C-Ya]

in the paraphrased words of a certain inmate... "They can go be poor somewhere else"

Its probably going to be another trailer park...id bet money on it.

Maybe……

But here is reason why I think it would not.

The trailer park makes good sense on leased land. The upfront costs of the land, combined with the infrastructure costs of the trailer park, make it too expensive, and not the highest and best use of the land. Just my opinion. There are bigger returns in other uses. Again, my opinion.

But then again………. What is the maximum number of spaces for a trailer park with amenities? That number will help figure out the math, so actually see what the per space projected costs are, and the amount of rent that would need to collected. Just to break even.

200 spaces is 400k just in per unit land costs alone.

 

[DWC]

A group of RDPers should go in on this I always tell the wife, I love our part of the river more than anything BUT I would consider Havi ONLY if we had lake front property that we could easily just walk into the lake when ever we wanted, with a private dock and room for our 3500' garage, this way getting some dream cars would make sense allowing us to go to car shows, car events, etc...plus she would have easy shopping access.

Damn it would be tough to leave your spot. We rented BigBore’s place a few times. Nothing like waking up on the water.

 

[Ace in the Hole]

Maybe……

But here is reason why I think it would not.

The trailer park makes good sense on leased land. The upfront costs of the land, combined with the infrastructure costs of the trailer park, make it too expensive, and not the highest and best use of the land. Just my opinion. There are bigger returns in other uses. Again, my opinion.

But then again………. What is the maximum number of spaces for a trailer park with amenities? That number will help figure out the math, so actually see what the per space projected costs are, and the amount of rent that would need to collected. Just to break even.

200 spaces is 400k just in per unit land costs alone.

5-9 units per acre..lets use the middle of 7. 88 acres you have potentially 616 spaces, so lets pull off 116 for common areas (pool, roads etc) so 500 stalls at $1000 per month... 500k a month in gross income. I don't know the build out costs off hand but I'm sure could be dug up...do a central pool or two and a clubhouse, gets some basic security and management company and that's a cash cow depending on sale price of the land.

Who knows what will happen but if its a long term investor..id bet its a "trailer resort" in the end.

 

[RVR SWPR]

Riviera has set a perfect example of possibilities for the future of LHC. What we see at Riviera today is just the beginning. Incredible

 

[C-Ya]

5-9 units per acre..lets use the middle of 7. 88 acres you have potentially 616 spaces, so lets pull off 116 for common areas (pool, roads etc) so 500 stalls at $1000 per month... 500k a month in gross income. I don't know the build out costs off hand but I'm sure could be dug up...do a central pool or two and a clubhouse, gets some basic security and management company and that's a cash cow depending on sale price of the land.

Who knows what will happen but if its a long term investor..id bet its a "trailer resort" in the end.

I like your thinking…..

But………. At current interest rates, the payment on 80mil is 500k per month. That’s just the land costs. So rents will need to be higher to compensate for infrastructure costs. What are current monthly trailer space rents near by?

 

[LargeOrangeFont]

I like your thinking…..

But………. At current interest rates, the payment on 80mil is 500k per month. That’s just the land costs. So rents will need to be higher to compensate for infrastructure costs. What are current monthly trailer space rents near by?

Yea that’s not gonna happen. .

 

[Singleton]

The amount of rodents and snakes that will emerge from construction will be a news story in itself!

100%, let’s hope they go towards the Nautical not the Islander

 

[hallett21]

5-9 units per acre..lets use the middle of 7. 88 acres you have potentially 616 spaces, so lets pull off 116 for common areas (pool, roads etc) so 500 stalls at $1000 per month... 500k a month in gross income. I don't know the build out costs off hand but I'm sure could be dug up...do a central pool or two and a clubhouse, gets some basic security and management company and that's a cash cow depending on sale price of the land.

Who knows what will happen but if its a long term investor..id bet its a "trailer resort" in the end.

And it’ll be a shithole in 10 years

 

[Ace in the Hole]

And it’ll be a shithole in 10 years

Likely

 

[hallett21]

Likely

And I’m not trying to be negative. But like @LargeOrangeFont has pointed out numerous times. Who the hell designs a city with the industrial part on the water and residential areas inland lol.

It’s just a bummer to watch these developments come up short.

We still have a concrete casino that never was built just south of Laughlin lol.

I think the Parker Keys was the last “badass” development. Foothills is very very nice but it’s 5-10 mins past our house on Pioneer/Jamaica. Rivera could really turn up the heat and I hope they do.

 

[Ace in the Hole]

And I’m not trying to be negative. But like @LargeOrangeFont has pointed out numerous times. Who the hell designs a city with the industrial part on the water and residential areas inland lol.

It’s just a bummer to watch these developments come up short.

We still have a concrete casino that never was built just south of Laughlin lol.

I think the Parker Keys was the last “badass” development. Foothills is very very nice but it’s 5-10 mins past our house on Pioneer/Jamaica. Rivera could really turn up the heat and I hope they do.

I 100% agree with you and don’t think you were being negative. It’s reality that keeps repeating unfortunately

 

[hallett21]

Speaking of which what’s going on with the Pink hotel. Island inn?

Also I thought I remember hearing that Crazy Horse changed ownership?

 

[Taboma]

Speaking of which what’s going on with the Pink hotel. Island inn?

Also I thought I remember hearing that Crazy Horse changed ownership?

The Pink Hotel is now in the hands of Patel's family and has become another one of their Motel 6 chain, they own and or manage.

Crazy Horse has/is going through a rather amazing transformation, new park models all over that place.

 

[hallett21]

The Pink Hotel is now in the hands of Patel's family and has become another one of their Motel 6 chain, they own and or manage.

Crazy Horse has/is going through a rather amazing transformation, new park models all over that place.

That explains the $69 a night.

 

[Bobby V]

And I’m not trying to be negative. But like @LargeOrangeFont has pointed out numerous times. Who the hell designs a city with the industrial part on the water and residential areas inland lol.

It’s just a bummer to watch these developments come up short.

We still have a concrete casino that never was built just south of Laughlin lol.

I think the Parker Keys was the last “badass” development. Foothills is very very nice but it’s 5-10 mins past our house on Pioneer/Jamaica. Rivera could really turn up the heat and I hope they do.

Where is there any industrial “on the water”.

 

[hallett21]

Where is there any industrial “on the water”.

Sorry “near the water”

 

[RiverDave]

Will this be owned fee simple, or just another long term lease?

Fee simple..

 

[Taboma]

That explains the $69 a night.

I haven't stayed at a Motel 6 since Spring Break Palm Springs circa '65 The rooms were worth $6 then, doubt they've changed much

 

[Bobby V]

Sorry “near the water”

I started coming to Havasu in the early 80s and have seen the city grow and change. There was hardly anything above Acoma. I doubt McCulluch figured for the changes in the sizes of the boats and houses.

 

[hallett21]

I started coming to Havasu in the early 80s and have seen the city grow and change. There was hardly anything above Acoma. I doubt McCulluch figured for the changes in the sizes of the boats and houses.

I’m sure the English Village was the peak at one point too lol

 

[Bobby V]

I’m sure the English Village was the peak at one point too lol

The shooting gallery was the hot spot.

But Hussongs was my favorite bar to hang out once we got to town.

 

[C-Ya]

The new development could continue the current Lake Havasu City theme, and name whatever it becomes……….. Buckingham Palace

 

[Sportin' Wood]

I haven't stayed at a Motel 6 since Spring Break Palm Springs circa '65 The rooms were worth $6 then, doubt they've changed much

Stayed there last winter for a night while our RV was in the shop. Great place for 20-somethings to get rowdy, otherwise it sucked.

 

[Taboma]

Stayed there last winter for a night while our RV was in the shop. Great place for 20-somethings to get rowdy, otherwise it sucked.

Thanks for the review, I wasn't going to try it or recommend it --- although who knows, might be fun for a gag to pull, "Hey buddy, I made reservations for you"

 

[Nosocks]

They need to build UP not OUT. Townhouses, condos, etc with storage or some other solution is best for affordability. Does create an issue with a lack of services (groceries, emergency, roadways, etc.) on the island relative to the growing population.

 

[boatpi]

Whoever is going to bid on This is going to have a contingency. The deal won’t go forward until a preapproval is done by Lake Havasu City for whatever billing they want to do on this property.
You could wish for whatever ROI you want but you’re not gonna get it until the city goes along with a general plan.

 

[NicPaus]

Yeah. What zoning will the city allow.