Bill Stenger, developer of several Northeast Kingdom projects using foreign EB-5 investments, has been given approval to seek further investors for a ski resort in Burke.
A piece of the $600 million economic redevelopment plan underway in the Northeast Kingdom is back on track. Vermont’s Department of Financial Regulation has granted conditional approval that allows the ski resort to seek foreign investment for a project already under development in Burke.
Q Burke, named for its co-owner, Ari Quiros, is a big chunk of the economic development puzzle Quiros and his more visible partner, Jay Peak Resort owner Bill Stenger, are trying to put together with foreign money. In exchange for at least $500,000, qualified investors receive visas under the federal EB-5 program. But more intensive scrutiny from state and federal officials has been slowing the projects.