As the Adirondack Park Agency takes up deliberations this morning on the Adirondack Club and Resort project, the Adirondack Daily Enterprise is reporting that many regional real estate experts remain skeptical about the development.
Lake Placid-based real estate broker Margie Philo told the Enterprise she thinks there’s a viable second-home market in Saranac Lake and Lake Placid, but that’s not necessarily the case in Tupper Lake.
“Personally, I think they’re going to have a lot of trouble and it’s going to be very slow going at the prices I hear quoted, if that in fact is true, for second homes off of the water in a community that is quite quiet during really nine months of the year and doesn’t have the infrastructure – restaurants, venues and things people enjoy in Saranac Lake and Lake Placid,” Philo said.
“I think it will get better as the market improves, but I wouldn’t buy a ticket on that one.”
In my reporting, I’ve found that widespread skepticism remains — even among some pro-development folks — over the business model for the resort.