SYRACUSE — The Oakwood Inn on Lake Wawasee moved a step closer to reopening Tuesday after the Syracuse Town Council approved creating an economic development district that will allow property tax money generated by improvements at Oakwood Park to be used for infrastructure on the site.
Oakwood Park, including the signature hotel on the shore of Indiana’s largest natural lake, has been in court-ordered receivership since 2010.
Ian Rolland, long-time Wawasee property owner and former chief executive officer of Lincoln Financial Corp., was appointed receiver by the court. The plan Rolland put together calls for the Oakwood property to be sold to Buckingham Companies, a development and property management company based in Indianapolis.
The sale has not yet been consummated, but most of the prerequisites for completing the transfer of ownership to Buckingham are in place. Tuesday’s creation of an economic development area on the site was just one more item the developer requested in preparation for purchasing and developing Oakwood.
Other changes already approved include annexation of the site by the town of Syracuse, rezoning by the county and town to allow for multi-family housing units, and a liquor license for a planned restaurant and bar.
Buckingham’s preliminary plans call for interior and exterior renovation of the hotel and adding a restaurant and bar. Long-range plans call for additional cottages, improvements to assembly and auditorium buildings on the site for weddings and other gatherings, improved athletic fields and eventually a senior housing project.
Buckingham has also petitioned the Indiana Department of Natural Resources for more than 200 pier spaces and permission to dredge along the Oakwood shoreline to accommodate boat slips. The DNR has not yet acted on those requests, which have been controversial and generated opposition from Lake Wawasee property owners and others.
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Related Photos
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An aerial shot of The Oakwood Inn & Conference Center provided by The Troyer Group. PHOTO PROVIDED BY THE TROYER GROUP
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