Fully Funded

The Observatory Sun Valley, a Viceroy Resort

Rural EB-5 Project approved by USCIS

A Premier Resort Destination in Sun Valley

Sun Valley is a generational destination, popular among Hollywood celebrities, Silicon Valley moguls, business leaders, and families seeking a premier mountain lifestyle. Known for its world class skiing, natural beauty, privacy, and year-round recreation, Sun Valley has long held a unique position among America’s most prestigious resort communities The development project is located at the entrance to the City of Ketchum, ID, and consisted of a fully entitled 73-room resort hotel and 12 penthouse condominium residences. The vertical construction began in the fourth quarter of 2023.

$130.5M development of The Observatory Sun Valley, a Viceroy Resort includes:

  • Land – 40,631 square feet entitled site
  • Gross building size – 147,820 square feet
  • 73 guest rooms (average size of approximately 420 square feet)
  • 12 condominium residences (28,238 square feet)
  • Four stories above grade building with three sub-grade levels (including parking)
  • Architect: Hornberger + Worstell, Inc.
  • Construction period from Q4 2023 to Q4 2026

The EB-5 Program Highlights

Minimum Investment Amount:

$800,000

Target EB-5 Investment Amount:

$42.4M (53 investors)

Total Investment Amount:

$130.5M

Projected Total Job Creation:

1,038 (Required: 530 / 95%+ cushion)

Mezzanine Debt Term:

3-Year Loan Term with Two 1-Year Extensions (3+1+1)

Project Status:

Vertical construction is anticipated to start in Q3 2023

Project Advantages

Job Cushion

The EB-5 fund will ultimately have a job cushion of approximately 96%.

Rural Project

The Observatory Sun Valley, a Viceroy Resort is in a rural area and qualifies for the annual 20% set-aside for rural projects per the EB-5 Reform and Integrity Act of 2022 (RIA).

I-526E Denial Repayment

Loan repayment guaranty by the development team in the event of an I-526E petition denial.

Secured Loan Structure

Construction completion guarantee and low-risk EB-5 mezzanine loan financing.

Completion Guarantee

Developer has unconditionally guaranteed the completion of the EB-5 project.

Regional Center Success

This is the 15th EB-5 fund offered by Golden Gate Global and follows a perfect track record of project approvals.

*Investment amount may change based on USCIS guidelines or the passage of an EB-5 Bill in Congress.

Project is Under Construction

Construction is approximately 80% complete. USCIS has now approved 55+ I-526E petitions for investors participating in the project, reflecting continued momentum in the EB-5 immigration process for investor families. The EB-5 project also continues to demonstrate strong progress across both job creation and immigration milestones. To date, more than 875 EB-5-eligible full-time American jobs, out of the required 900, have been created, representing 97% of the project's job requirements. Construction activity remains ongoing, with total job creation continuing to increase month over month.

Recent construction milestones include:

  • The entire building has been fully topped out
  • All major concrete structural work, including walls, decks, and elevator shafts, has been completed
  • Steel stair installation to the rooftop has been completed
  • Exterior siding is nearing completion
  • Stonework is now more than 50% complete
  • Exterior window and patio door installation has been completed
  • The signature planetarium dome has been installed
  • Roofing work is nearing completion
  • Major mechanical, plumbing, electrical, and fire sprinkler systems have been installed
  • Interior tile flooring, cabinetry, hardwood flooring, and bathroom finishes are actively progressing throughout hotel units and common areas
  • Drywall finishing and painting of hallways and shared spaces are ongoing
  • Elevator doors have been installed throughout the building
  • Interior columns, exterior concrete walls, interior concrete walls, decks, and elevator shafts have been poured
  • The installation of the structural steel for the penthouse is complete
  • The roof is complete
  • The steel stairs are complete to the rooftop
  • A majority of the exterior metal siding is installed
  • Windows and doors are installed
  • Waterproofing is installed
  • The planetarium dome is complete
  • Installation of the overhead plumbing, fire sprinkler, and light fixtures is complete on multiple levels
  • Plumbing, electrical rough, and HVAC work are nearing completion
  • Interior wall framing and drywall installation are in progress
  • Approximately 47% of construction are complete.
  • The concrete decks were poured to the top floor. All interior columns, exterior concrete walls, interior concrete walls and elevator shafts have been poured.
  • The installation of the structural steel for the penthouse was in progress through the steel and metal deck.
  • Level P2: The installation of the overhead plumbing, fire sprinkler and light fixtures was complete. The hot water heater boilers and storage tanks were set. The main HVAC return ducts were on site.
  • Level P1: The installation of the overhead plumbing, fire sprinkler and light fixtures was complete. The electrical switchgear was set.
  • Level 0: The metal stud framing was complete at the exterior. Plumbing top out was in progress.
  • Level 1: The metal stud framing was complete to 30% at the exterior. Plumbing top out was in progress with the waste and vents in place and the water lines in progress. Condensate lines were installed.
  • Level 3 interior stairs were in progress at one of the two stairways.
  • Level 4: the fan coils were installed to 50%.
  • Level 5: Penthouse steel was installed.
  • Subcontractor trades on site during Q1 2025 include electrical, concrete, rebar, plumbing, mechanical, waterproofing, steel, and general labor.
  • Post-tension cable and rebar placement are in progress on multiple levels.
  • Staircase erection is in progress.
  • Shoring is in place.
  • The concrete is complete through the grade level and ramp to the basement. The first-floor deck and second floor deck concrete are poured.
  • The columns and interior shear walls are poured to the third floor.

Electrical work has also commenced, with two temporary transformers installed on the east side of the site. Additionally, 40% of the formwork is now in place, and backfilling activities are progressing on the east side. These updates highlight the steady momentum of the project as it moves closer to completion.

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