Two Japanese firms and a U.S. developer plan to open a golf course and resort hotel complex in Rancho Mirage, Calif., one of the Japanese companies said.
Takenaka Corp., a major Japanese construction company, said its U.S. subsidiary will undertake the project with two developers, Sega International, of Tokyo, and LES Properties Inc., of San Diego. Plans call for the resort to be built on a 16,500-acre site and include an 18-hole golf course, a 279-room hotel and an undetermined number of restaurants, Takenaka said.
Earlier this year Takenaka and Sega International bought into another golf course and hotel in Rancho Mirage owned by LES Properties. The new resort is to be developed nearby. Rancho Mirage is about 10 miles south of Palm Springs and 90 miles southeast of Los Angeles.
Although details have not been completed, Takenaka estimated that the resort will cost about $142.8 million to develop. Takenaka plans to put up 50 percent, with the other two partners each providing half of the remainder. Westin Hotel Co. will be asked to manage the hotel.
Takenaka said it hopes a final agreement will be reached by fall and that construction will be completed by the end of next year.
