Great Gulf announces minority investment in new ownership group behind purchase of Killington Resort and Pico Mountain

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Sep 30, 2024, 11:02 ET

KILLINGTON, VT, Sept. 30, 2024 /PRNewswire/ - Great Gulf, the developer of the upcoming one-of-a-kind master-planned village at Killington, announces a minority investment in the new ownership group purchasing the Killington Resort and Pico Mountain.

"We are pleased by the announcement of the successful sale of the Killington Resort and Pico Mountain to a new ownership group, with local ties to Vermont. Led by Phill Gross and Michael Ferri, the new owners are comprised of long-time Killington passholders and devoted winter sports enthusiasts, with ambitious plans to invest significant capital into winter and summer infrastructure over the coming years. To support these efforts and further reinforce our commitment to the mountain, Great Gulf is announcing a minority investment in the new group," says Michael Sneyd, President of Great Gulf Resort Residential.

The new group's existing connections to Killington align perfectly with Great Gulf's goal of creating a community that is deeply rooted in the Vermont ethos. Great Gulf's plans for a new four-season resort-style residential community and village, offering innovative modern architecture, transformative amenities, and stunning landscape design, continue to progress.

"We look forward to collaborating with the new owners to create a world-class destination that will enhance the Killington experience for residents and visitors alike," adds Sneyd.

Great Gulf's plans for the first phase village, once completed, include:

Over 650 ski-in/ski-out condominiums and townhomes, along with a collection of single- family lots on Ramshead
A vibrant, pedestrian-oriented village featuring more than 111,000 square feet of retail and dining space
Two public squares and an 84,000-square-foot iconic lodge designed by Moshe Safdie, replacing the current Snowshed and Ramshead lodges
Dramatic waterfront improvements to snowshed pond including a retail promenade

Great Gulf has been working closely with the Town of Killington, state officials, the resort, and the new ownership team and remain dedicated to ensuring the success of the 'Killington Forward' initiative, which includes key road and water infrastructure improvements to support the village's development.

Together, these collective efforts will bring this monumental development to life, further strengthening Killington's position as the premier mountain destination in the Eastern United States while continuing to positively impact the local and state economy.

View the Killington Resort press release.

For more information about Great Gulf's Killington Village development, please visit www.greatgulf.com/killington.

About Great Gulf
Established in 1975, the Great Gulf Group including Great Gulf, an international award-winning, low-rise and landmark high-rise residential developer; Ashton Woods Homes, the largest private builder and 15th largest in the U.S.; Beacon Residential, a U.S.-based Built-to-Rent platform; First Gulf, an innovative market leader in sustainable, accessible and transit-oriented commercial developments and large scale design-build industrial facilities; Tucker HiRise, a leading construction management company, specializing in the construction of high-density, mixed-used projects; H+ME Technology, a precision engineering panelization manufacturing facility; and Taboo Muskoka, one of Canada's top-ranked golf courses, is one of North America's premier real estate organizations. With major projects in Canada and the United States, the company's fully integrated activities span the entire real estate spectrum. Learn more at greatgulfgroup.com.

SOURCE Great Gulf Group