The general contractor for an EB-5 funded hotel and conference center development at Q Burke Resort says the state is holding up payments for completed work.
The general contractor in charge of building a resort hotel in the Northeast Kingdom said he’s caught in the crossfire between the project’s developers and state regulators, resulting in payment delays that might force him to abandon the $120 million project.
Jerry Davis, president of PeakCM, the construction firm managing the 180,000-square-foot development at Q Burke Resort, blames the state.
“I’m at my breaking point,” Davis says. “I’m thinking of stopping the job. It’s delayed the hotel because when subs don’t get paid they slow down.
“Ninety percent of the issue is caused by the state’s inability to manage the (payment) approvals,” Davis says. “We don’t want to shut it down. All we want to do is finish the project under budget and on schedule.”
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