52 mil in EB-5 investment for Mount Snow

Looks like the big projects at Mount Snw are going forward, EB-5 funded of course.... It'll probably drive up prices but it looks like a big increase in snowmaking and it's not tax money so I think I approve.

https://www.mountsnow.com/media-room/carinthia-groundbreaking/

How does a 38,000 square foot lodge cost $22 million?

Maybe it has condos or hotel room above it?

That is a good point there. At 22 mil, how do you ever make a profit on that? I guess I don't see the big picture- or something

Be interesting to see how much cost is associated with regulations and attorneys.

Looking at the EB-5 website, there is a graphic that shows the ski lodge as one of five buildings.  The others are marked as "Residential" but looks like a combination of hotel and condos.  Pretty clear the idea is to use the building during the off-season for conferences, weddings, and such.

"The new ski lodge will be the hub for future planned extensive upscale hotel accommodations and recreational facilities that will be built at the Carinthia Base Area as part of the Mount Snow master plan. "

http://mountsnoweb5.com/carinthia-1-lp-project/

Is the existing ski lodge 1-story or 2-story?  New lodge has about four times more square footage.

Edit: found detailed drawings by the architectural firm

http://linesync.com/mountsnow.html

Basic drawings in this article:
http://www.newenglandskiindustry.com/viewstory.php?storyid=580

Brownski wrote

That is a good point there. At 22 mil, how do you ever make a profit on that? I guess I don't see the big picture- or something

Well, a 50 mil hotel didn't work at Greek Peak and it still isn't.

Brownski wrote

That is a good point there. At 22 mil, how do you ever make a profit on that? I guess I don't see the big picture- or something

That's easy - if your the developer you build it for 10 mil

I wonder how much dirt 52 mil could buy? And if that 52 mil of dirt would be enough to pile up on that hill to give it some pitch?