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University Estates Gets Major Boost With New Business Partner
Contact Doctor Richard Conard
president, University Estates
941-713-7085
or Lantz Repp
vice president, University Estates
740-592-5836
or Charles Cagann
president, MRES, Inc.
317-464-8200
or Quentin Lutz
vice president, Arthur Hills / Steve Forrest and Associates
419-841-8553
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| Charles Cagann, Arthur Hills, Richard Conard |
ATHENS, Ohio (March 25, 2003) - University Estates, the 830-acre golf course community currently under construction northwest of Athens, has just announced that Mansur Real Estate Services, Inc. (MRES) of Indianapolis, Indiana, has joined forces in the development of the project. MRES is one of the Midwest's most successful development companies, having created more than $500 million in commercial real estate properties in several major metropolitan cities across the United States and abroad. MRES is recognized and respected for completing a broad range of challenging and successful developments for private investors and companies, community development corporations and municipalities. Projects have run the gamut from renovation of older intercity buildings to complete golf course communities, including development of independent water plant infrastructure. MRES president Charles Cagann is excited to be able to work on a project the scope and magnitude of University Estates. "Our work to date has taken us primarily into urban markets, from St. Louis to London, England," said Cagann. "We are looking forward to working with Doctor Richard Conard and Arthur Hills on the development of this intergenerational, mixed use golf course community."
According to Richard Conard, University Estates president, everything is in place to step up the construction of this development. "Our next task is to finish the water and sewer lines, pave the entrance boulevard and Phase One roads, and then begin homesite and golf course construction simultaneously," Conard said. "University Estates will have tremendous economic impact on the Athens community and Ohio University. This project has been patterned after a concept that has already been successfully implemented at select university communities across the nation, with the Universities of South Carolina, Louisville, and Kentucky being prime examples. If you use a multiplier of four, and apply it to every new dollar brought in to the area because of this development, we are projecting that University Estates could impact southern Ohio by as much as $800 million dollars," Conard went on to say.
University Estates has projected the creation of over three hundred new support jobs and, because of the projected increase in population, local service companies, banks, retail and food stores will benefit, not to mention the increase in gross tax revenues for the city and county. Further studies show that Ohio University will benefit through the return of alumni who wish to renew or strengthen their ties with the university.
Arthur Hills, world famous golf course architect, has been retained to design the Ohio Club featuring an 18-hole golf course with driving range and short game area. Mr. Hills has proposed the idea of incorporating the First Tee program at University Estates. Mr. Hills stated "The Ohio Club at University Estates will be a world-class golf facility on a beautiful piece of property and a natural fit for such a noteworthy program as First Tee." First Tee is a program funded through the USGA (United States Golf Association) to promote junior golf.
Arthur Hills and MRES have worked together successfully on two previous golf course developments. With the University Estates project, they have implemented the Audubon International "Golf Course Signature Program" whereby sound environmental guidelines are followed, from design through construction and management.
"The addition of MRES to our project compliments our local management team of Lantz Repp and Pat Lawson who will remain responsible for the day-to-day operations of the project," Conard went on to say. For progress updates, visit www.universityestatesoc.com.