Economies based on tourism and luxury condos are always going to suffer first when there’s an economic contraction…
WEST WARWICK — The $150-million resort and indoor water park slated for the West Warwick Business Park is on hold at least until the spring as developers search for money to build it. Work on the project was expected to begin two months ago.
“We’re still looking for funding,” developer Michael L. Day, of Dial Family Resorts, said this week. “The market has been kind of messed up the last month or so.”
The project, dubbed “7th Wave,” is a Hawaiian surfer-themed resort that would include 409 hotel rooms, a 75,000-square-foot indoor water park and 12,000 square feet of meeting space. The park has been two years in the planning, and developers were originally slated to break ground in September. At best, Day said, it could happen in the spring.