Cranwell Sold For $18 Million

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The resort's sale was completed on Wednesday, according to land records.

LENOX, Mass. — Cranwell Spa and Golf Resort was sold Wednesday to CampGroup LLC. and L.D. Buildings for $18 million.
 
The resort will now be managed by Hay Creek Hotels, a New England hotel management company. GampGroup owns a number of local properties including Camp Winadu and Camp Danbee and L.D. Builders has developed local properties including The Pines at Bousquet and Lenox Woods. 
 
"With camps in operation in the Berkshires collectively for over 300 years and hundreds of camper families who have enjoyed staying at Cranwell over the past 40 years, we have long admired Cranwell's position of prominence in the community and are thrilled to be a part of such an important Berkshires establishment," Andrew Benerofe, CampGroup chairman, said in a statement released Thursday.
 
"We plan to elevate the already outstanding guest experience and enhance the resort's position as a destination."
 
The historic property has been a landmark in the Berkshires and features 114 hotel rooms, an 18-hole golf course, three restaurants, a banquet hall and large spa. The company hosts not only visitors but also conferences, weddings and other large scale events. The property expands some 380 acres. It has been owned by Berkshire Cranwell Limited Partnership since 1993 and operated by Dan and Carol Burack.
 
"We're very proud of our accomplishments and the community relationships we've established over the years," said Dan Burack.  "We plan to continue our involvement with the vital cultural institutions, including Carol's work on the boards of Barrington Stage Company and Jacob's Pillow.  We're especially pleased that the new ownership has also had strong ties to the Berkshires for many years and will continue to be stewards of this premier New England resort."
 
J.D. Builders plans to expand Cranwell's offerings. The company specializes in buying and developing properties throughout Massachusetts. The company has previously built and managed numerous condominium complexes.
 
"As local builders we are committed to making living, working and playing in the Berkshires more enjoyable," said Dave Ward, L.D. Builders president. "We have a hands-on family approach and plan to bring our careful attention to detail to upgrading and enhancing Cranwell's historic facilities."
 
CampGroup is based in White Plains, N.Y., and operates a number of summer caps. The company owns 16 camps in New England. They also operate retreat locations and off-season camp rentals for conferences and events. 
 
 Hay Creek Hotels is based in Westport, Conn., as a management company for various hotels in New England.
 
"The Buracks created a family atmosphere for both the employees and the guests that we intend to continue. We recognize the importance of valued employees to provide superior service and inspire an exceptional experience for our guests. The current employees at Cranwell are a key ingredient to the resort's success and we look forward to working with Carl Pratt, general manager, and his whole team," said Norm MacLeod, Hay Creek Hotels, president and CEO.

Tags: commercial purchase/sale,   

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Pennrose Breaks Ground in Lenox, Bringing 68 Units of Affordable Housing

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LENOX, Mass. — Pennrose announced the groundbreaking of 238 Pittsfield Road, a 68-unit affordable rental community.

The development will bring much-needed affordable, family-friendly housing options to the area.

The community will consist of 10 residential buildings offering a mix of 23 one-bedroom, 38 two-bedroom, and seven three-bedroom apartments. Of the 68 total homes, 57 will be affordable for households earning from 30 percent of the Area Median Income (AMI) up to 80 percent AMI, with the remaining 11 units available at market rate rents.

A community building at the entrance of the development will offer resident-focused amenities, including event space and a fitness center, along with on-site offices for Pennrose management and resident services staff.

"238 Pittsfield Road builds on the progress that the Town of Lenox has made in addressing the region's pressing needs for affordable, family-sized rental housing," said Karmen Cheung, Regional Vice President at Pennrose. "This partnership with the Town of Lenox continues to deliver communities that give families of all sizes a place to call home. Together with Forge, these two communities reflect our long-term commitment to meeting the diverse housing needs of Berkshire families."

Currently only 7 percent of Lenox's housing stock is deed-restricted affordable, falling short of the 10 percent goal established by the Commonwealth of Massachusetts. Additionally, approximately 90 percent of the town's existing affordable housing is limited to seniors, and market-rate rental options remain sparse.

238 Pittsfield Road is located a mile down the road from Forge,  a mixed-income community that celebrated its grand opening in August. Together, the two sister developments will add a total of 133 new affordable units to the town.

The project continues Pennrose's collaboration with the Town of Lenox and is guided by the goals of the Town's 2017 Housing Production Plan, 2021 Master Plan, and 2002 Gateway Redevelopment Plan.

The project is financed via federal 4 percent tax credit and state tax credit allocations from the Commonwealth's Executive Office of Housing and Livable Communities (EOHLC), with the National Equity Fund as the syndicator and Rockland Trust and US Bank as the investors. Rockland also provided construction debt, and the Massachusetts Housing Partnership (MHP) provided both permanent debt and Workforce Housing Funds. MassDevelopment is the bond issuer, and EOHLC provided additional soft sources and operating subsidy. Finally, the Town of Lenox provided local Affordable Housing Trust and Community Preservation Act funds, as well as funds through the Commonwealth's HousingWorks Infrastructure Program (HWIP).

Haynes Construction is serving as general contractor and The Architectural Team as architect for the development.

Construction is underway and is expected to be completed in early 2028.

 

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