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Jay Development Lightning Fast

May 21, 2012

JAY – Expansion and improvements continue at Jay Peak at lightning speed.
The Jay Planning Commission has approved plans for the renovation of the Austria Haus at Jay Peak Resort and is considering plans for the construction of a new learning center on the state side of the mountain.
The proposed learning center would have a primary function of teaching children age two to six how to ski, explained Peter Fina, chair of the Jay Planning Commission. It would also house a café.
But planners asked for more information on parking, traffic control, and safety response access for fire and ambulance before giving their final stamp of approval on the proposal.
The resort is seeking an Act 250 permit for the plans. Renovations include changing the office space to a country store retail shop, a new exterior entryway and new sewer service connection to the Troy/Jay municipal wastewater treatment facility. The exterior design plan is to have the building harmonize with the exterior of the new hotels but keep the nostalgic feel, Fina explained. The footprint of the building will not change.
The plans are part of the ongoing effort to expand and improve Jay Peak Resort. Townhouses, a new hotel, and many other improvements are planned for the state side. Jay Peak already has two new hotels, restaurants, an ice arena, and indoor water park.
The projects at the resort are funded through the EB-5 Foreign Investor Program, where foreigners seeking to live in certain areas of the United States can invest $500,000 in a project in exchange of a Green Card for themselves and immediate family members.
Bill Stenger, the president and co-owner of Jay Peak, has traveled abroad to seek investors and promote the investor program. Stenger is using the program to fund the proposed bio-tech facility in Newport and he plans to tap into the EB-5 Program for the hotel and conference center on Lake Memphremagog in Newport.

 

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