You are thinking of the Cofresi Cove property, which has its own mortgage conspiracy theory.
The old Sombrero Hotel does not exist anymore, part of it is now Ocean World and the other parts (on the Treasure Bluff property) were demolished.
And you should know, right?
Treasure Bluff is still a mystery to me.
Guess I'd have to be there to understand.
It is believed that "parcels" of previous Treasure Bluff and Sun Village-Cofresi are still owned by the Elliotts. Someday, very soon, that will have to be clarified...the land parcels that were not foreclosed.