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Peak Resorts Announces Mount Snow EB-5 Project Fully Subscribed
Peak Resorts Announces Mount Snow EB-5 Project Fully Subscribed
EB-5 to fund West Lake and Carinthia base lodge.
Wednesday, August 26, 2015, NewEnglandSkiIndustry.com
In an August 25 press release, Peak Resorts announced it now has $48.3 million in escrow toward its $52 million EB-5 project, pronouncing it fully subscribed. Peak Resorts is now awaiting USCIS approval of its I-526 Petition, expected within 18 months of its May 2014 filing.

The EB-5 project will fund the on-going West Lake snowmaking project and a new 36,000 square foot Carinthia base lodge.

With a capacity of 120 million gallons, West Lake will be a 600% improvement over Mount Snow's current 20 million gallon snowmaking water storage. Construction commenced in early 2015 with a projected completion in time for the 2016-17 season.

Carinthia base lodge construction is expected to begin in 2016.

In 2007, the Vermont EB-5 Regional Center was rechartered. Under the EB-5 program, a foreigner can invest $1 million in an approved United States business (which must then create jobs), in exchange for a green card. With the area labeled a Targeted Employment Area, the minimum investment is cut in half to $500,000, making participating rural businesses more attractive.

Mount Snow filed its Carinthia Mount Snow Phase 1 Vermont Act 250 application on July 23, 2015, covering a new base lodge, 7 buildings (146 residential units), and snowmaking infrastructure changes. Future plans also call for the replacement of the Ski Baba chairlift with a conveyor lift. A hearing will be held on September 8.

Mt. Snow Base Area Rendering
Mt. Snow Base Area Rendering

Carinthia Base Area Rendering
Carinthia Base Area Rendering

Mt. Snow Base Area Rendering
Carinthia Base Area Rendering




Related Stories on NewEnglandSkiIndustry.com
  • EB-5 Funded Projects Gearing Up at Mount Snow - June 16, 2017
  • Government Approves Peak Resorts I-526 Petition, Unlocking Escrow Account - December 13, 2016
  • Peak Resorts Quarterly Report Reveals Growing Losses, Debt - December 8, 2016
  • Peak Resorts Annual Report Reveals Dire Financial Situation - July 17, 2016
  • Mount Snow Removes Ski Baba Chairlift - June 7, 2016


  • More Information
  • Mount Snow on NewEnglandSkiIndustry.com
  • Mount Snow on NewEnglandSkiHistory.com


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