The long-stalled Seaside Resort project has a new owner and plans to get to building soon.

After languishing for decades with no momentum and no signs of life, the long-planned Seaside Resort – a 300-plus room luxury hotel and timeshare development at the existing Bayonet & Black Horse, poised to offer some of the best views on the Monterey Peninsula – has finally been revived.

And all indications are that whatever ends up getting built – though no designs have been finalized or presented to the city’s Planning Commission – it will be something beautiful. Greg Ogle, a partner with KDG Capital, a Florida-based company specializing in destination golf resorts that bought the property Dec. 9 from the original developer, says the hotel, which will be on prime real estate overlooking Monterey Bay, will be “something that cascades down that embankment, because all the views are amazing.”

That would be good news for Seaside. Aside from the transient-occupancy tax boost a luxury hotel could provide, it also takes a long-planned development off the books and into reality.

As part of the developers’ agreement with Seaside, they will pay the city $40,000 per month unless they hit their milestones, meaning they’re on the clock.

“I think they’re coming in fast,” says City Attorney Sheri Damon.

The project also has water, which means it has legs. Aside from an allocation from the Fort Ord Reuse Authority that will be used for the hotel and timeshare and single-family homes, the City Council voted in 2005 to provide water to the golf course from the city’s own supply for 75 years, until 2080.

Ogle says the hotel will take about two years to build, and that it should be open by early 2025. He also says his company has invested in new equipment to help manage the golf course, with the hopes of making it a bonafide golf destination, even though it will remain a public course.

“We expect the quality of golf to go up,” Ogle says. “Hopefully, if the course is better, we will get a better rate for our play.”