46-Acre Murrieta Hot Springs Resort Project Gets Spotlight

MURRIETA, CA — The massive Murrieta Hot Springs Resort project underway in Murrieta garnered accolades last month at the 10th Annual Turning Red Tape into Red Carpet Awards, city officials announced.

The project — that will return the 46-acre site at 39401 Murrieta Hot Springs Road into a luxury resort — received the Real Estate Redevelopment and Reuse Award during the Nov. 3 gala hosted by the Inland Empire Economic Partnership at Riverside's historic Mission Inn Hotel & Spa.

Winning projects are recognized because they "catalyze economic growth and demonstrate innovative partnership approaches, including both the public and private sectors," according to a city of Murrieta news release.

In August it was announced that the Murrieta Hot Springs property known as the Calvary Chapel Bible College sold for $50 million. The buyer, real estate investment and development firm Olympus Real Estate Group, confirmed plans to renovate and preserve the historic property as a hot springs wellness resort and day spa, according to a news release from The Hoffman Company, which represented Olympus and Calvary Chapel in the transaction.

Olympus owns a portfolio of properties, including the wellness destination, The Springs Resort, in Pagosa Springs, Colo.

The expansive Murrieta site is fully developed with approximately 279,000 square feet of infrastructure, including existing operating hot springs, 38 buildings, a dozen guest lodges with over 200 rooms, two large auditoriums, commercial kitchens and restaurant facilities.

“It is an extraordinary property with a long and deep-rooted history in the community,” Justin Esayian of The Hoffman Company said following the Aug. 12 escrow closing. “To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the wine region’s tourism market and generate significant tax revenue for the city [of Murrieta and nearby cities that benefit from visitor dollars that will be spent in their towns]."

The work of transitioning the bible college into what will be the new Murrieta Hot Springs Resort is something the city and developers are working together on, according to Scott Agajanian, Murrieta’s director of economic development.

The property was originally developed in 1902 as a health retreat known as the Murrieta Hot Springs Resort. It attracted locals, travelers and celebrities to its restorative waters before falling into disrepair in the 1980s. It came back to life in 1995 when Calvary Chapel of Costa Mesa converted it into a Christian conference retreat center and Bible College campus.

Mike Mugavero of Calvary Chapel said that when the church first stepped foot on the Murrieta property in 1995, the organization's officials decided to invest in restoring and improving the property to what it is today. The church’s decision to sell the historical landmark was prompted by a shift in focus that was exacerbated by the closure of its facilities during COVID-19, according to the organization.

“Murrieta Hot Springs is an irreplaceable property with tremendous history,” said David Dronet, founder and principal of Olympus Real Estate Group. “We are very thankful to Calvary Chapel for its stewardship of the property over the past quarter-century and are looking forward to revitalizing and re-opening it as a first-class hot spring resort and day spa.”

Dronet added, “Years ago the Murrieta Hot Springs Resort was one of the preeminent health resorts in the country. We’re honored to work with the Murrieta community and our amazing health and wellness team to make the Murrieta Hot Springs Resort a world-class wellness destination once again.”