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EB-5 Funded Projects Gearing Up at Mount Snow
EB-5 Funded Projects Gearing Up at Mount Snow
$52 million is being spent on snowmaking and new base facilities.
Friday, June 16, 2017, NewEnglandSkiIndustry.com
Carinthia Groundbreaking, June 12, 2017
Carinthia Groundbreaking, June 12, 2017

After nearly two years of delays, Mount Snow's $52 million EB-5 immigrant investor construction project is now hitting full steam.

Under the EB-5 program in Vermont, a foreigner can invest $500,000 in an approved United States business (which must then create or preserve 10 jobs per investor), in exchange for a green card. Upon nearing its $52 million EB-5 investment goal, Mount Snow's owner, Peak Resorts, fronted $12 million to start the construction of West Lake in 2015. While the company was expecting to have the $52 million in EB-5 funds released by early 2016, the alleged Jay Peak EB-5 Ponzi scheme reportedly contributed to significant delays in government processing.

As the delays continued, Peak Resorts found itself in a dire cashflow situation, resulting in layoffs and a bridge loan. The escrow restrictions were finally removed in late 2016 when the United States Citizenship and Immigration Services approved the project's I-526.

West Lake
West Lake

Long John Trail Widening, Spring 2017
Long John Trail Widening, Spring 2017

Construction of the $30 million West Lake snowmaking project has been ongoing this spring as pipeline is being installed and pump houses constructed. The West Lake reservoir is expected to provide a 600% improvement over Mount Snow's current 20 million gallon snowmaking water storage. 33,500 feet of snowmaking pipe is expected to be installed on the mountain in time for the 2017-18 season. Trail widening is also taking place.

Meanwhile, Mount Snow officially broke ground on its $22 million Carinthia base area project earlier this week. An initial phase of the project was completed last year when the Ski Baba chairlift was replaced with a Magic Carpet lift. A 38,000 square foot lodge is expected to be completed for the 2018-19 season, featuring seating, dining, ski rentals, and retail. The small base lodge to be replaced dates back to when Carinthia opened as a private club ski area in the 1960s.

Carinthia Base Lodge Rendering
Carinthia Base Lodge Rendering

Carinthia Base Area Plans
Carinthia Base Area Plans




Related Stories on NewEnglandSkiIndustry.com
  • 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
  • Mount Snow EB-5 Program Approved - May 25, 2016


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


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