The Grand Harbor Resort and Waterpark property has a new owner.
Following a Sheriff’s sale on Tuesday it was purchased for a price of 7.5 million dollars by the Riddle Group based in Rapid City, South Dakota.
Riddle primarily operates a Jewelry corporation and has one of their stores inside the Kennedy Mall.
The property owner Platinum Holdings defaulted on a 9.5 million dollar loan and the court ordered the property sold to satisfy the debt.
The city of Dubuque which owns the land will work with the new ownership group.
Riddle says the goal is to completely renovate the property including all its rooms and water features over the next one or two years in preparation for a grand reopening.
