Great Gulf Invests in New Ownership of Killington Resort
Great Gulf's Strategic Investment in Killington Resort
Great Gulf, a renowned developer, has recently announced a pivotal minority investment in the new ownership group that has taken over the Killington Resort and Pico Mountain. This strategic move is designed to enhance the future of these iconic winter sports destinations.
New Ownership Brings Local Expertise
The newly formed ownership group, composed of seasoned winter sports enthusiasts with deep ties to the region, is led by notable figures, including Phill Gross and Michael Ferri. Their shared history with Killington as long-standing passholders equips them with a unique insight into the needs and desires of the community.
Plans for Winter and Summer Infrastructure
As they move forward with ambitious plans for significant capital investment, their primary goal is to enhance both winter and summer infrastructure. This initiative aims to create a more robust and year-round experience for visitors and residents alike.
A Community Aligned with Vermont Values
Great Gulf's vision for a new four-season resort-style community embodies the Vermont ethos, fostering a sense of place that resonates with the natural beauty and culture of the area. This planned development features innovative architecture and luxurious amenities, making it a prime destination for outdoor enthusiasts.
Vision for the Killington Village Development
The development planned by Great Gulf includes impressive features once fully completed. Some highlights include:
- More than 650 ski-in/ski-out condominiums and townhomes, along with available single-family lots on Ramshead.
- A lively village atmosphere with over 111,000 square feet designated for retail and dining experiences.
- Two public squares and an iconic 84,000-square-foot lodge designed by renowned architect Moshe Safdie, which will take the place of the existing Snowshed and Ramshead lodges.
- Significant enhancements to the snowshed pond area, including a new retail promenade to attract visitors.
Great Gulf has been dedicated to collaborating with local authorities, resort officials, and the new ownership team to ensure that the 'Killington Forward' initiative becomes a reality. This initiative emphasizes key infrastructure improvements in roads and water systems crucial for the village development.
Impact on the Community and Economy
These extensive development efforts are poised to solidify Killington's position as a premier mountain destination in the Eastern United States. The anticipated influx of visitors will positively impact the local and state economy, offering a wealth of opportunities for local businesses and employment.
About Great Gulf
Founded in 1975, Great Gulf has evolved into a multifaceted organization within North America's premier real estate landscape. Their reach extends from residential developments to innovative commercial projects and built-to-rent platforms. This growth demonstrates their commitment to quality and sustainable development across diverse markets.
Frequently Asked Questions
What is Great Gulf's investment in Killington Resort?
Great Gulf has made a minority investment in the new ownership group of Killington Resort and Pico Mountain, aimed at enhancing winter and summer infrastructure.
Who leads the new ownership group of Killington Resort?
The new ownership group is led by Phill Gross and Michael Ferri, both of whom have long-standing ties to the Killington community.
What are the development plans for the Killington village?
The plans include over 650 ski-in/ski-out condominiums, a vibrant retail space, two public squares, and an iconic lodge designed by Moshe Safdie.
How will this investment impact the local economy?
The development is expected to enhance Killington’s position as a leading mountain destination and positively impact the local economy by bringing in more tourists and providing jobs.
When will the Killington village project be completed?
While specific completion dates have not been detailed, the project is set to progress over the coming years with a focus on transforming the area.
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