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  1. #1
    gostan's Avatar
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    Jay Peak Building Project On Hold

    http://www.wcax.com/story/25167761/jay-peak-eb-5-update

    Pretty interesting story.

    Stan

    "There's No Cure For Life"

  2. #2
    Shit happens.

  3. #3
    They've been going full bore now for the better part of a decade. It probably doesn't hurt to slow it down just a little, even if it is for permits. I'm thinking of trying it out for the first time this week.

    They seem to have lots of base area development. Do they have a village or do people generally just go into town?

  4. #4
    gostan's Avatar
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    Sure, I understand that getting conventional lenders, investors , etc. to place $$ in ski area expansion/development is beyond difficult, but For me, the entire EB-5 program in this country is just another big mistake. And EB-5 money is being raised in many states in this country. We should have opted to change tax laws and offered tax credits or some other mechanisms instead of selling green cards for cash. At least Win, unlike Bill Stengers, knew enough to limit how much he took in and has a plan to pay back these limited partners. The Jay and Newport and now Burke investments and expansion are so large that they just plain scare the shit out of me. Let's see what happens when the $$ has to be paid back and the expected revenues are not quite there.
    Stan

    "There's No Cure For Life"

  5. #5
    Quote Originally Posted by Ride Delaware ? View Post
    Do they have a village or do people generally just go into town?
    Town?? I nearly spit out my coffee laughing. As far as I know there is no town. Well I'm sure there is, but it might be like logging grid 647. In any case if you haven't been there recently it is awesome. Insane even.

    Where there used to be an old decrepit Swiss looking building and a bar that looked like a 1950s era VFW there is now a huge complex. I think there's about 8 restaurants and bars in the village (that might include others on the south part which you can shuttle to). Most of them you can walk to underground or indoors without even having to step outside. The indoor waterpark is huge and well done. Picture like the CRP, but the exact opposite. I felt like a little kid skiing all day then hanging in the water park and hot tubs after.

    I have no idea how much it cost, how much is EB-5 money or how much is debt and I don't care. As an experience it is pretty cool. Plus you can't beat the woods at Jay. Maybe a bit late in the season for great wood skiing now, but worth checking out for the park.

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