Resort planned for Colorado River
Thursday, May 27, 1999 | 11:10 a.m.
Biltmore said it has received a $36 million funding commitment from Raffa Mortgage and Financial Corp. to build the Biltmore Vacation Village.
The resort's timeshare units will be two-bedroom, two-bath, 1,500 square-foot suites. Amenities will include views of casino row in Laughlin, swimming pools, restaurants, a nightclub, a fitness center and a spa.
Use of the spa, fitness club and nightclub will be offered to the public on a separate membership basis.
Sales for the resort will begin in October, and are expected to total $175 million. Construction is slated to begin in July.
The resort will be affiliated with Resort Condominiums International, a timeshare exchange company. Biltmore Vacation Village will offer fee simple interest in its units to the public for use on a weekly or daily basis, or through exchange with RCI for the use of other vacation resorts throughout the world.
Biltmore has three subsidiaries: Sage Design Builders Inc., Dynamic Design Architecture Inc. and Nevada Realty and Management Inc. Biltmore and its subsidiaries design, build, finance and operate timeshares, hotels, offices and houses.
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