Post by blackcrowheart on Sept 27, 2006 17:05:29 GMT -5
Advice to tribes: Make use of softened economy
CABAZON - With a softened real estate economy and the prospect that California lawmakers will ratify compacts to expand Indian gaming, a panel affiliated with the Inland Empire chapter of the Urban Land Institute said it may be a prime time to consider Native American partnerships.
The advice was given during a conference on Indian land development Thursday at Morongo Casino, Resort & Spa. Allen Parker, chief executive officer of economic and business development for the Morongo Band of Mission Indians, called the tribe's development "slot-driven.'' If the new compact is ratified, he said there's a strong chance the casino will expand to accommodate 7,500 slots and the hotel size will double. A 200,000-square-foot commercial center with expansion along the I-10 corridor also is being contemplated, he said. While Parker said it is unlikely the tribe will get into the residential business, officials representing the Agua Caliente Band of Cahuilla Indians said the tribe and members who own allotted tribal land are making inroads in that direction. Grilon Rodas, chief operating officer of Creosote Partners, which represents individual Indian land allottees, spoke of a new 230-acre development along Dinah Shore Drive in Cathedral City
that will soon be unveiled. The project, Prieta del Sol, will feature 700 single-family homes, 730 rental properties and a 200,000-square-foot commercial center. "Developers are coming to us now because there's been a softening in the market,'' Rodas said, explaining that these partnerships eliminate risks involved in acquiring expensive pieces of land for the developments. Parker said he's been besieged with calls about potential industrial development, surmising it is because Ontario is built-up. "It's been very active,'' he said. With the number of inquiries expected to rise, conference attendees were advised to be cognizant of the fact that this is their land, their money and their own government.
"We're looking for financing, experience, expertise and horse power,'' said Todd Hooks, economic development director of Agua Caliente.
<http://www.thedesertsun.com/apps/pbcs.dll/article?AID=/20060922/NEWS06/609220361/1040/business01>
CABAZON - With a softened real estate economy and the prospect that California lawmakers will ratify compacts to expand Indian gaming, a panel affiliated with the Inland Empire chapter of the Urban Land Institute said it may be a prime time to consider Native American partnerships.
The advice was given during a conference on Indian land development Thursday at Morongo Casino, Resort & Spa. Allen Parker, chief executive officer of economic and business development for the Morongo Band of Mission Indians, called the tribe's development "slot-driven.'' If the new compact is ratified, he said there's a strong chance the casino will expand to accommodate 7,500 slots and the hotel size will double. A 200,000-square-foot commercial center with expansion along the I-10 corridor also is being contemplated, he said. While Parker said it is unlikely the tribe will get into the residential business, officials representing the Agua Caliente Band of Cahuilla Indians said the tribe and members who own allotted tribal land are making inroads in that direction. Grilon Rodas, chief operating officer of Creosote Partners, which represents individual Indian land allottees, spoke of a new 230-acre development along Dinah Shore Drive in Cathedral City
that will soon be unveiled. The project, Prieta del Sol, will feature 700 single-family homes, 730 rental properties and a 200,000-square-foot commercial center. "Developers are coming to us now because there's been a softening in the market,'' Rodas said, explaining that these partnerships eliminate risks involved in acquiring expensive pieces of land for the developments. Parker said he's been besieged with calls about potential industrial development, surmising it is because Ontario is built-up. "It's been very active,'' he said. With the number of inquiries expected to rise, conference attendees were advised to be cognizant of the fact that this is their land, their money and their own government.
"We're looking for financing, experience, expertise and horse power,'' said Todd Hooks, economic development director of Agua Caliente.
<http://www.thedesertsun.com/apps/pbcs.dll/article?AID=/20060922/NEWS06/609220361/1040/business01>