Judge approves sale of Quail Hollow Resort property - The News Herald
A judge has approved the sale of the Quail Hollow Resort property in Concord Township following an online auction in March.
An agreement between receiver Prodigy Properties and buyer Terra Silva Holdings lists a contract price of $3,026,210, according to court documents. Lake County Common Pleas Court Judge Jeffrey Ruple approved the sale in an April court filing.
“Terra Silva Holdings, LLC, led by seasoned entrepreneurs Brenda Boice and Greg Baum, is proud to announce its acquisition of the historic Quail Hollow Resort in Lake County, Ohio,” Boice said in a news release.
“Closed since the pandemic, the iconic 12-acre property will undergo a comprehensive, phased revitalization over the next 18 months, blending timeless charm with modern hospitality,” the release added.
Terra Silva said it plans to “offer a five-star experience at a budget-friendly price point, with a focus on exceptional customer service, aesthetic appeal and thoughtful amenities.” A planned “hybrid business model” will include “traditional hotel offerings with flexible use spaces and modern conveniences.”
The company added it may use a detached building on the property for office space.
“We see this as more than just a renovation – it’s a resurrection,” Boice said in the news release. “Quail Hollow is a legacy property that deserves to be brought back to life with care, creativity and a clear vision for the future.”
“From day one, this will be a labor of love,” Baum said in the news release. “We’re putting in the sweat equity to make this a destination that stands out – not just regionally, but nationally.”
The release described Quail Hollow as Terra Silva’s first hotel project. The corporation has real estate, renovation, branding and operations experience.
It said that Boice has more than 26 years of experience in property renovation and has led U.S. distribution for European hair care brand Naturtint. Baum has worked on “large-scale infrastructure projects, including bridge construction in New York, as well as residential and commercial remodels.”
“Terra Silva Holdings is committed to reestablishing the resort as a cornerstone of the Lake County community while welcoming guests from across the Midwest and beyond,” Terra Silva said later in the release. “Updates on the project, including the forthcoming new name and brand identity for the hotel, will be shared in the coming months.”
Township officials said that they expect the sale of the resort property at 11080 Concord-Hambden Road to be completed in May.
Township trustee Carl Dondorfer described the resort as “the first thing you see when you come into Concord.” He said that the trustees had received complaints about the property and that it had not been maintained.
Trustee Morgan McIntosh said that the owner’s high asking price had prevented movement before.
“This auction has sort of resolved that problem, and one way or the other, we’re optimistic about the opportunity for something to happen, or at least to move through, an owner to pick it up that’s going to do something constructive with this,” McIntosh said.
The property was placed up for auction as part of a receivership process earlier this year. The auction was conducted in early March.
Concord Township filed a motion that was posted on March 20 supporting the sale of the property.
“The property, located in Concord Township, has sat fallow for years due to its blighted and condemned structures,” the township filing said. “The recent auction resulted in a winning bid that has the very real possibility of returning the property to economic viability.”
The April 15 filing said that net sale proceeds will first cover receivership costs and then will cover specified tax certificates and judgment liens. The remaining proceeds will go to GP Hotel Ohio.
The nearby Quail Hollow Country Club is listed as belonging to a separate property owner and was not part of the sale.