Posts tagged with "Grand Alps Group":

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Eavesdrop> Ski Bummer: Proposed enormous indoor ski slope resort in Texas calls it quits

Grand Prairie, Texas, has been spared what could have been the nation’s first indoor ski resort and Hard Rock Hotel. The project’s developer, The Grand Alps Group, pulled the $215 million proposal after a meeting with Grand Prairie’s mayor and city manager. They were not happy about losing the big fish. “We were a little surprised,” City Manager Tom Hart told the Dallas Morning News. “We thought we had a pretty good meeting.” In a press release, Sherman Thurston, Grand Alps’ CEO, cited a disagreement about “terms and conditions and costs” as his reason for pulling out of the deal. Apparently the $30 million in tax exemptions, offer to purchase half the land, and return of 75 percent of the hotel-motel taxes that Grand Prairie promised Thurston wasn’t enough to convince the developer, who claims to already have financing in place to build the project, including $100 million from foreign investors, mostly Chinese. Grand Alps is currently looking for other possible sites in the Dallas–Fort Worth area.