Twenty years. That’s how long ago Seaside officials approved moving forward with plans for the Seaside Resort project with 125 residential lots and a hotel on the Bayonet and Black Horse golf course property.
A lot has happened since then with the project – the hotel is currently on its third developer, SKDG, which purchased the hotel parcel in 2021. Since then, SKDG has been subject to the same performance schedule as the previous developers, with some extensions granted given the change in ownership.
And though city officials held a groundbreaking ceremony in September 2024 for the hotel – a Grand Hyatt with 330 rooms and a conference center – that celebration was arguably premature. Among the milestones included in the schedule was that a construction loan to build the hotel be secured by July 31, 2025. That date was missed despite being the third extension of that deadline.
Seaside City Council approved the extension in May after SKDG missed the April 30 deadline for a construction loan, and extended the deadline to July 31 with a caveat: SKDG would have to pay $40,000 a month for every month of the extension unless the July 31 deadline was met, which it was not.
Seaside City Manager Greg McDanel says that SKDG has been able to get some work done since the groundbreaking in spite of the loan not yet being secured, including additional infrastructure and necessary, preliminary site work.
McDanel says the City remains “cautiously optimistic” the financing terms will be closed soon. Upon that happening, McDanel says shoring for the hotel will start, followed by a maintenance facility that will also include a model hotel room. If the financing is done soon, McDanel expects that construction will begin in early 2026.
City Council approved the first extension to SKDG in June 2024, extending the loan deadline from July 2024 to Jan. 31, 2025. Per a city report from that time, SKDG said didn’t it need to draw from the loan until February 2025.
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