CALLICOON – Sandeep Wadhwa, Chairman of Villa Roma Resort, has announced a planned $204.8 investment in the Villa Roma property, including a complete renovation of the hotel and timeshare buildings, adding a gated housing community, workforce housing, and building a hospital and wellness center.

“I see an untapped opportunity,” Wadha said Friday afternoon of the Villa Roma and surrounding area.

Wadha is the Chairman of FAY Investment Group, which purchased the Villa Roma in 2024 for $20.7 million from long-time owners Marty Passante and Paul Carlucci, who had owned and operated the resort for 54 years.

Since then, Wadha said he has already invested $11 million toward infrastructure.

“I knew there were going to be challenges,” he said of purchasing the property.

Now, with planned renovations and expansion, Wadha has applied to be an Opportunity Zone, a program enacted through the One Big Beautiful Bill Act that allows investors to defer and reduce capital gains taxes by reinvesting those profits into low-income communities.

Wadha said he has sought support from Sullivan County for a recommendation for New York State to consider approving the Census Tract designation.

“If it’s approved, [the project] is sustainable,” Wadha said. “Otherwise, it will take longer.”

As it stands now his proposed renovation and expansion will take five years to complete and will create 900 jobs.

Broken into four phases, the first phase is the renovation of the resort. He understands that customers are looking for upgrades.

“I see how people are emotionally attached to this property,” he said. “They’ve been coming here for years. People want to see development here.”

The first component involves approximately $52.1 million in planned investment in the property, with upgrades to the resort’s 139 hotel rooms and 232 serviced apartments, along with infrastructure, recreational facilities, common areas, conference spaces and dining facilities.

The second component is a planned $65.7 million residential program comprising approximately 150 chalet homes across two proposed communities—Timber Enclave and Timber Ridge.

The proposal remains subject to further site planning, subdivision, environmental review and other required approvals.

The third component is a proposed $72 million Institute for Family Health & Wellness, with a planned facility of approximately 95,500 square feet.

The concept includes approximately 50 inpatient beds, urgent and primary care, specialty surgical services, rehabilitation and wellness facilities. The institute remains at the conceptual and planning stage, with clinical operator arrangements and the relevant regulatory and other approvals still to be established.

The fourth component is a proposed $15 million workforce and employee housing complex, with approximately 300 housing units under consideration. This is an early-stage concept. Further work is required on site selection, utilities, design, financing and approvals.

“My ambition is to transform Villa Roma from an aging and underutilized resort into an iconic, world-class, year-round destination in the Catskills, one that celebrates its heritage, delivers exceptional experiences, and becomes an enduring source of pride and economic opportunity for the entire region,” Wadha said.

In response to the recent one-week closure of the Villa Roma due to unpaid NYSEG electric bills, Wadha said, “The electricity matter has been resolved, service has been restored and Villa Roma is open and welcoming guests, timeshare owners and employees. We are working to bring operations back to normal and remain committed to hosting events, conferences, weddings and community gatherings.”

Some local events scheduled to take place at the Villa Roma were moved to other locations around Sullivan County in light of the perceived disturbance.

In response to local rumors about employees not receiving paychecks, Wadha said it’s untrue.

“Employees have been paid, and their health insurance coverage is current, with benefits in place,” he said.

“The recent electricity disruption was a separate operational matter that has since been resolved. We recognize the concern these reports may have caused among employees, their families and the wider community. Our priority is to continue normal operations, support our team and welcome guests back to Villa Roma. We remain committed to our employees and to the resort’s long-term operations in Sullivan County.”