November 19, 2011
Greek Peak unveils conference center
5,676-square-foot facility caps resort’s recent $10 million expansion
VIRGIL — Greek Peak Mountain Resort unveiled two new conference rooms in the expanded and renovated conference center Friday morning.
Al Kryger, president of Greek Peak, said the conference center was part of the original plans for the Hope Lake Lodge but was scrapped because of a lack of funding.
“We knew down the road we could build it at the base of the mountain,” he said.
The 5,676-square-foot, $1.8 million expansion connects the Katalima Lodge to the Taverna building at the base of the mountain.
One room, the Acropolis, is now the resort’s largest conference room at 4,500 square feet and has a capacity of 400 people. The second room, Leonidas is 1,176 square feet and can hold 110 people.
Greek Peak began construction on the conference center in April and finished late last month.
The expansion opens up Greek Peak to a much wider audience, Kryger said.
“Before the expansion the conference center could only fit about 150 people,” he said, adding the facility can now hold approximately 1,000 people using all of its available space.
Greek Peak has already lined up events hosting several organizations at the conference center, starting next spring, Kryger said.
“We have a dairyman’s association here in March and we’re in talks with several other groups,” he said.
The U.S. Department of Agriculture’s office of Rural Development provided a $10 million loan through the Business and Industry Guaranteed Loan Program for the expansion that included the conference center, Kryger said.
Walter Schermerhorn, program director for the USDA’s Rural Business Program, said the loan was a part of the 2009 American Recovery and Reinvestment Act.
Only $1.8 million of that loan was used for the conference center expansion. The rest of the money was used for other expansions within the resort, including the Adventure Center, he said.
The loan’s repayment period is 25 years and 90 percent of it is guaranteed by the USDA. The Tennessee Commerce Bank administered the loan.
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