Groundbreaking at the Q Burke ski area - WCAX.COM Local Vermont News, Weather and Sports-

Groundbreaking at the Q Burke ski area

Posted: Updated:
BURKE, Vt. -

On a bright day in the Northeast Kingdom there was an even brighter spot at Burke Mountain.

Q-Burke resorts broke ground on a 116-room slope side hotel and conference center. It’s part of the massive Northeast Kingdom Revitalization Initiative funded by foreign investor EB-5 program. In exchange for half-a-million-dollars investors eventually get a green card for them and their family.

"It will be the first major accommodation transformation for Burke. Incredibly important first big step for big four season evolution for resort," said Bill Stenger, the president of Jay Peak.

Officials estimate that the project will create 2,300 jobs, 300 will be onsite construction jobs. An estimated 500 will be off-site supporting construction jobs and the hotel will employ 250 people. People in town are still divided.

"A lot of work going on up there and not much going on anywhere around here," said Dan Heath.

"It's certainly going to help property values but it’s also going to change things," said Ben Mikin, Burke resident.

North of Burke in Newport deconstruction has started on the site where Korean bio-tech company AnC Bio will be built. Developers thought the project would be well underway by now, but it's been impacted by delays connected to the EB-5 visa investment program. Similar delays slowed progress at a hotel at the Jay Peak resort, but Stenger says the 150 investors for AnCBio who were waiting for federal approval received the green light Tuesday.

Stenger: Our first application approval was issued.

Reporter Gina Bullard: What's that mean?

Stenger: That means our business plan and investment group has been accepted by federal government and project can move forward at a brisk pace. We now have the green light to really move forward. We were holding back on agressiveness of construction but we can move forward in an aggressive way this calendar year.

Stenger expects the hotel to be built in 18 months and once construction starts on AnC Bio that will also take about 18 months.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.