Riverhead Cancels $2B Resort With Indoor Skiing
GARDEN CITY, N.Y. (AP) -- A Long Island town has cancelled a contract with a Scottish developer seeking to build a $2.2 billion resort that would have included an indoor ski mountain.
Sean Walter, a town supervisor in Riverhead , says Riverhead Resorts has failed to make payments as part of a deal to purchase 750 acres of land. Walter says the town didn't get a $3.9 million payment last week.
Developer John Niven said Friday that the money was being wired from Scotland and was hopeful the town would reconsider.
The developer says he has already made $7.5 million in unrefundable payments and has spent $18 million overall.
The resort would have included a 35-story indoor ski mountain, a water park, winery, equestrian trails, a spa and hotel.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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